Evening Walk Down D-Street on February 28, 2019

What started off as a roaring Thursday ended up as a volatile one as both Sensex and Nifty shed gains and closed below their respective support levels. The S&P BSE Sensex gave up 36,000 while the Nifty50 closed below 10800 towards the close of the trade.

The Nifty50 index closed 0.35 percent lower in February series with rollovers seen at 58 percent (provisional) at 4 PM. The Nifty Future 3-month average rollover stands at 68 percent, data showed.

The good news is that foreign institutional investors (FII’s) net cash flow remained positive for February which was negative 7 out of last 12 months, but Indo-Pak tension is likely to keep the market volatile in March series as well.

Indian market started the day on a positive note despite negative global cues but shed most of its gains in the last hour of the trading sessions.

The final tally on D-Street – the S&P BSE Sensex closed 37.99 points lower at 35,867 while the Nifty50 ended at 10,792, down 14 points.