Here's Why Nifty Is Expected to Remain Volatile Today

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Here's Why Nifty Is Expected to Remain Volatile Today

By Aditya Raghunath

Investing.com -- Rising coronavirus cases and FIIs (foreign institutional investors) cutting their bets on Nifty Bank on one side versus strong Asian and global markets on the other could see another volatile day of trading on Indian markets.

Nifty 50 Futures are trading up 0.29% at the time of this report, signalling a positive opening for Nifty and the BSE Sensex . Pressure on Bank Nifty could continue today after FIIs reduced their bets on Bank Nifty and Nifty by 5,191 contracts to 16,785 contracts on March 15.

FIIs sold net shares worth Rs 1,101.35 crore yesterday while DIIs (domestic institutional investors) sold shares worth Rs 749.71 crore.

Rising COVID cases in India have caused governments to impose restrictions again. Example: The remaining T20 cricket matches between India and England in Ahmedabad will be played without any spectators after 55,000 people attended the previous game.

In the US, S&P 500 and Dow Jones Industrial Index closed at record highs on Monday with S&P 500 up 0.65% and Dow up 0.53%. Nasdaq Composite gained 1.05%.

Asian markets took a cue from US stocks and have opened strong with Nikkei 225 up 0.64% and KOSPI 50 up 0.29% respectively. The Shanghai Composite is down 0.11%.

Crude oil has given up its gains and is now trading at $64.66 after trading at over $66 levels yesterday.

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  • Neetesh Jain @Neetesh Jain
    Ready for 20% correction in NSE/BSE.Covid wave will surely going to have severe impact in coming few weeks.
    Like 0
  • Ginni Ramesh Reddy @Ginni Ramesh Reddy
    nifty 50 15500 tak up hosakte
    Like 0
  • Pradeep Rao @Pradeep Rao
    Deep economic issues are popung up.. expect another collapse..
    Like 0
  • Prakash Vishy @Prakash Vishy
    with due respect from when sports activities have started impacting stock markets, by this logic for the first two t20s there were 70000 odd spectators, bank nifty fell more than 2000 points, would help if you could clearly focus on technicals, what the chart is telling you
    Like 7
    • Abhishek Sairam @Abhishek Sairam
      @Prakash Vishy I think the line is about how serious the covid cases are. As in, India is seriously locking down stuff again and that will lead to slowing of economy again. No connection between sports and stocks obviously
      Like 1

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  • Karan Patil @Karan Patil
    Can’t understand that when US and rest of the world markets are in bullish trend then why Indian markets are seeing constant downsides!
    Like 3

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