The BSE Sensex fell more than 200 points while the Nifty50 slipped below 23,650 in the first 15 minutes of trade.
So far in January FIIs have sold equity for Rs 10,419 cr. “With the dollar index at 109 and the 10-year bond yield at 4.67% FIIs are likely to continue with their selling strategy putting pressure on the market in the near term,” Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
“With the Q3 results season starting from today there will be market reaction to results. The results of TCS will give an indication of what is in store for the IT sector,” he said.
On the options front, the maximum Call OI is placed at 24,000 and then towards 24,100 strikes while the maximum Put OI is placed at 23,500 and then towards 23,000 strikes.
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