At 10:28 a.m.,
Nifty was trading at 17,687 points, down 0.5% or 93 points from the previous close of 17,780 points. He opened at 17,767 points.
Among the actions,
On the contrary,
“Technically the market is strong, helped by the steady decline in FII sales, and DIIs and retail investors are consistently buying dips. Financials are strong and IT is coming back from the recent correction. trend is expected to continue,” VK Vijayakumar said. , chief investment strategist at Geojit Financial Services.
Overall, markets are very volatile and this is likely to continue until some clarity emerges on the US Federal Reserve’s rate hike decision in March, Vijayakumar said.
“If the Fed opts for a 50 basis point rate hike in March, as some pundits fear, there will be a sell-off in equity markets globally. But now it is a low probability event Fed would prefer gradual rate hikes without upsetting markets.”
At its last meeting held last month, the US central bank’s Federal Open Market Committee said it was ready to tighten monetary policy by raising rates.
At the same meeting, the Committee kept its key interest rate “near zero” and said it expected a rate increase “to be appropriate soon.”
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