«The broader market could remain under pressure given the profit booking and adverse advance-decline ratio. Hence we suggest traders be very selective in mid/small caps,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
FII/DII action
Foreign portfolio investors were net sellers at Rs 564 crore on Monday. DIIs, meanwhile, bought shares worth Rs 3,543 crore.
Rupee
The rupee rose 1 paisa to settle at 82.90 against the US dollar on Monday, tracking a weak American currency overseas and positive equity market sentiment.
FII data
The net short of FIIs reduced from Rs 61,332 crore on Saturday to Rs 50,047 crore on Monday.