A morning walk down Dalal Street | Market likely to remain choppy in near term amid mixed trend in Q1 earnings
Episode 1424, Jul 11, 2019, 01:30 AM
Bulls failed to push the index back above 100-days EMA on Wednesday as Nifty50 closed below 11500 levels.
Despite firm global cues Indian markets witnessed a breakdown as fresh tariff threats from the US caused volatility.
Amongst the broader market indices, ‘BSE Midcap’ and ‘BSE Smallcap’ too ended lower by 0.8 percent each. Amongst the sectoral indices Realty, Capital Goods, Metal and Auto were the biggest losers in the range of 1.1-1.7 percent.
Experts feel that the market is likely to remain choppy in the near term amid mixed trend seen in Q1 earnings.
The rupee declined by 7 paise to close at 68.58 against the US dollar on Wednesday, pressured by persistent foreign fund outflows and firming crude oil prices.
On the institutional front, FPIs were net sellers in Indian markets for Rs 604 cr while the DIIs were net buyers to the tune of Rs 667 cr, provisional data showed.