A morning walk down Dalal Street | Market likely to remain volatile amid Indo-Pak tension

A volatile day for Indian markets as both Sensex and Nifty swung in both direction 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 60 percent. 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 in 7 out of the last 12 months. As move into March series, Indo-Pak tension is likely to keep the market volatile.

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.