InvestorQ : How do you see the stock markets on Tuesday 29th March, and do you see the bounce in the market sustaining?
shrinidhi Rajan made post

How do you see the stock markets on Tuesday 29th March, and do you see the bounce in the market sustaining?

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diksha shah answered.
2 months ago
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The market movement on Monday was exactly the opposite of the movement on Friday. After making losses of 70 points on Friday, the Nifty almost gained that many points on Monday to close at 17,222 levels. The big driver was Bharti Airtel after paying off spectrum dues earlier than warranted. This is likely to be a week full of date flows.

In terms of market structure, the overall breadth of the Nifty was favourable with the advance decline ratio pegged at 29:20. For Monday, the VIX or the fear index tapered lower to the 22.61 levels. The rally was led by Bharti and supported by PSUs and banks. However, UPL due to its sale plans remained under pressure.

Foreign investors net sold equities to the tune of Rs.801 crore even as domestic funds and LIC bought stocks worth Rs.1,162 crore net on Monday. FPIs may end March with net selling of Rs.50,000 crore in equities. In global markets, the US markets were sharply higher on hawkish hopes while SGX also traded higher by about 65 bps in early trades on Tuesday.

The Indian stock markets have some key data flows during the week. There is the core sector infrastructure numbers, fiscal deficit and current account deficit numbers announced this week. In addition, auto numbers are expected during the week. Overall, pressure on markets are likely to sustain at higher levels.

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