Analysts expect the current market momentum to continue, while the market will closely track fresh set of economic data to be released later this week.
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Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: «We are now eyeing 22,800 in Nifty and expect banking, metal and IT to lead the surge. Traders should align their positions accordingly, with a focus on stock selection. In case of any intermediate dip, the 21,900-22,150 zone would cap the downside in the index,» said Ajit Mishra, SVP — Technical Research, Religare Broking
- India VIX: India VIX, which is a measure of the fear in the markets, fell 3.7% to settle at 14.99 levels.
FII/DII action
Foreign portfolio investors were net sellers at Rs 128 crore on Saturday. Domestic institutional investors too sold shares worth Rs 42 crore.
Rupee
The rupee declined 2 paise to close at 82.91 against the US dollar on Friday amid rising crude oil prices in the overseas market and increased demand for the American currency from importers.
FII data
The net short of FIIs increased from Rs 58,968 crore on Thursday to Rs 62,761 crore on Friday.
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