InvestorQ : Can you share your trading view for 03 August, Tuesday in the stock markets?
Aashna Tripathi made post

Can you share your trading view for 03 August, Tuesday in the stock markets?

diksha shah answered.
2 years ago

There was no ambiguity about the markets on Monday, unlike on Friday when the markets were extremely tentative. On Monday 02 August, the Nifty decisively close very near to the 15,900 mark. Of course, the market was driven by specific stories like Titan and Shree Cements but the overall sentiments were positive, barring metals under some pressure.

On the positive side, there were hopes that the RBI would continue its accommodative stance of monetary policy, apart from holding rates in the August policy when it concludes its 3-day meeting on 06 August. That enthused markets to become less risk averse and that was evident in the breadth of markets at 37:13 for Nifty Fifty stocks.

However, foreign flows continue to tb every tepid. On Monday, even in the midst of the rally, the Foreign Portfolio investors or FPIs remained net sellers to the tune of Rs.1,540 crore while domestic institutions infused Rs1,506 crore. With FPIs inactive on the buying side, this rally looks like a mix of short covering and pure trading positions.

At close on Monday, the US and European markets were strong with a global bounce seen across the markets. However, that does not appear to have rubbed off on the SGX Nifty, which is trading down nearly 25 basis points in early trades.