Indian equity markets ended lower on Thursday, extending their recent losing streak as early gains gave way to sustained profit booking in key sectors. Overall, analysts said the market is in a consolidation phase with a negative bias. A decisive move above 25,700 will be crucial to revive the bullish momentum, while a failure to hold above 25,500 could increase weakness in the short-term.

Market conditions

Gift Nifty (earlier SGX Nifty) signals a negative start.

Nifty futures traded down 80 points at 25,510 on the gift.

Tech View: The index has fallen towards the support of the previous swing high, placed around 25,450. Going forward. If the index falls below 25,450, the short-term trend may become weaker. On the other hand, if it holds above 25,450, a significant trend reversal is likely.

India VIX: The India VIX, a gauge of fear in the markets, settled down 1.9% at 12.41.

Global Market Watch

• S&P 500 futures were up 0.2% as of 9:17 a.m. Tokyo time.
• Hang Seng futures fell 0.4%
• Japan’s Topix fell 0.5%
• Australia’s S&P/ASX 200 fell 0.1%
• Euro Stoxx 50 futures were little changed

Forex news

• The euro was little changed at $1.1545
• The Japanese yen was little changed at 152.96 per dollar
• The offshore yuan was little changed at 7.1228 per dollar
• The Australian dollar was little changed at $0.6482

Ban stock today in F&O

1) NIL

Block period securities under the F&O segment include companies in which the security exceeds 95% of the market-wide position limit.

FII/DII action

Foreign portfolio investors on Wednesday invested Rs. 3,263 crore net sale of shares. Meanwhile DII Rs. 5,284 crore were net buyers.

Rs

The rupee gained 7 paise to 88.63 against the US dollar on Thursday, supported by a weaker US currency against major foreign rivals and lower global crude oil prices.