INDIAN
BENCHMARKS are likely
to witness cautious opening as the global cues look mixed with SGX Nifty
trading 9 points lower. Indian equity benchmarks may open slightly lower
on Wednesday tracking a renewed rout in global equities as falling crude oil
prices soured risk taking appetite, whilst caution ahead of the Railway Budget
and Economic Survey due this week and the Union Budget on Monday, may also
prompt Dalal Street traders to stay on the sidelines. The NSE Nifty fell on
Tuesday, posting its first drop after four sessions of gains, as investors
turned jittery ahead of next week's Union Budget, with a reversal in oil prices
putting further pressure on the market. The S&P BSE Sensex and CNX Nifty
ended 1.59%-1.73% lower each. On Tuesday, February 23, 2016, 30-share BSE
SENSEX closed at 23410.18, down by 378.61 points, or by 1.59 per cent, and the
NSE Nifty ended at 7109.55, down by 125 points, or by 1.73 per cent.
Trend in FII flows:
The FIIs were net sellers of Rs -289.66 Cr in the
cash segment on Tuesday while the DIIs were net buyers of Rs 257.93 Cr, as per the
provisional figures released by the NSE.
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