A morning walk down Dalal Street | Tread with caution, Nifty may face selling pressure at higher levels
Episode 1352, Jun 25, 2019, 01:30 AM
Monday blues on D-St! It was indeed a volatile day for Indian markets. The index failed to hold on to its crucial level of 11700 on a closing basis
Weak global cues, lingering trade war tension combined with geopolitical risk kept traders on the edge. On the domestic front, delay in the arrival of monsoon and issue related to liquidity and corporate governance weighed on sentiment.
Investors are advised to tread with caution as there is a higher possibility that the index could face some selling pressure at higher levels of around 11800 in the absence of any major cues.
The next big trigger for markets would be the Budget which is due on July 5
After opening on a weak note, the rupee recovered the lost ground and finally settled 23 paise higher at 69.35 to the US dollar amid a weakening of the greenback against major currencies.
On the provisional front, FPIs were net buyers in Indian markets for Rs 207 crore while DIIs were also net buyers to the tune of Rs 984 crore, provisional data showed.