“The key event this week is RBI’s monetary policy which provides direction to the market. Though RBI is expected to maintain the status quo, commentary would be eagerly eyed with regards to hints on rate cut,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: The crucial opening downside gap of 17th Jan is now placed at the verge of decisive upside breakout at 21970 levels. Immediate support is at 21750 and the next overhead resistance to be watched around 22125 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 1.7% to settle at 15.78 levels.
Stocks in F&O ban today
1) Hindustan Copper2) India Cements3) Indus Tower
4) Nalco
5) ZEE
6) Ashok Leyland
7) UPL
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors were net buyers at Rs 92 crore on Tuesday and DIIs bought shares worth Rs 1,096 crore.
Rupee
The rupee declined marginally by 2 paise to close at 83.05 against the US dollar on Tuesday, amid a firm greenback against major currencies overseas.
FII data
The net short of FIIs reduced from Rs 61,998 crore on Monday to Rs 60,275 crore on Friday.
Q3 results
Power Grid, Nestle India, Tata Consumer, Lupin, Trent and a slew of other companies will announce their third quarter results today.
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