D-Street set for a cautious opening as GIFT Nifty signals muted start
Foreign funds sold $1.1 billion in Indian shares on Wednesday as elevated crude prices and higher bond yields kept selling pressure in place.
- Indian benchmark indices opened lower on Thursday, October 1, amid persistent supply disruption concerns from West Asia, with the BSE Sensex tanking more than 150 points at the opening bell.
- Foreign institutional investors dumped shares worth around $1.1 billion on Wednesday, bringing cumulative monthly sales to around $3.8 billion as elevated crude oil prices and weak sentiment squeezed market optimism.
- Analyst Chouhan noted the Nifty formed a bearish candle on the daily chart, while intraday charts continued to show a "lower-top formation," identifying 22,600-22,550 as crucial support levels.
- President Donald Trump on Thursday said the US will either "make a deal" or resolve the situation by "maybe by blowing them up," doing little to bolster ceasefire hopes in West Asia.
- The Reserve Bank of India's Monetary Policy Committee will meet next week, with market participants expecting a 25 basis point repo rate hike as inflationary concerns grow amid elevated energy costs.
20 Articles
20 Articles
Indian stock markets log worst weekly losing streak in 25 years, fall another 1%
Foreign selling, high crude prices, a weak currency, and elevated bond yields continue to weigh as benchmark indices fell nearly 1%. Auto stocks were among the worst performers Thursday due to weaker-than-expected September sales
D-Street set for a cautious opening as GIFT Nifty signals muted start
Nifty fell significantly, closing at 22,716 after hitting a six-month low during the trading session. Foreign investors continued selling shares, contributing to market volatility, while domestic institutions showed buying interest. The rupee settled marginally higher due to RBI interventions and falling oil prices. Immediate support levels are identified around 22550-22500, with resistance expected at 22800-22900. Market sentiment remains cauti…
Sensex, Nifty opening: Will stock market crash or open higher today?
Indian benchmark indices are set for a muted start after sliding to near six-month lows. Rising crude, foreign selling and elevated US yields remain the key pressure points for Tuesday's trade.
Technical View: Caution prevails ahead of F&O expiry; Nifty 50 below 22,700 may trigger further pressure; Bank Nifty support seen at 54,000
Experts see the possibility of a pullback rally towards 22,800-22,900 following the recent heavy selling. However, such a rebound is unlikely to sustain amid the prevailing bearish technical setup.
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