There is a ‘triple danger’ looming over markets in the near-term: dollar index above 105, steadily rising US 10-year bond now around 4.39 per cent and the Brent crude above $94, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
These are significant macro risks which the market cannot ignore for long. FIIs refraining from big selling is because of the FOMO (fear of missing out) factor, he said.
Investors should exercise caution, particularly in the over-heated mid-and small-cap segments. Safety is in large-caps, he added.
The participation of large-cap bluechips across sectors has been giving strength to the rally which has taken the Nifty well above 21,000 level, he said.
The fact that the fairly valued banking segment has been a significant contributor to the recent rally also is a positive development. PSU banks like BoB, Canara Bank and Indian Bank are even now attractively valued, he added.
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher said Nifty index continue to record new highs touching the 20,200 levels during the intraday session and is poised for further gains in the coming sessions with near term-target expected till 20,300-20,350 zone.
The broader markets once again are regaining strength with significant participation visible from the mid-cap and small-cap counters supporting the index for further gains. The support for the day is seen at 20,100 levels while the resistance is seen at 20,350 levels, Parekh said.
BSE Sensex is down 155 points at 67,682 points. Infosys, HDFC Bank, Wipro are down more than 1 per cent.
VC funding drops 22.5 pc in China in Jan-Nov as India sees surge
As venture capital (VC) funding surged in India this year, China saw a 22.5 per cent decline in VC funding by both volume and value in the January-November period, a report showed on Thursday.
Indian share market opens in green, Nifty above 23,800
At around 9:37 am, Sensex was trading at 78,744.55 after gaining 271.68 points or 0.35 per cent, while the Nifty was trading at 23,812.50 after gaining 84.85 points or 0.36 per cent.
Indian share market ends in red ahead of key global policy decisions
Ahead of key policy decisions especially from the US Federal Reserve, the Indian stock market closed in red on Tuesday as selling was seen in the PSU bank, auto, IT, financial service, pharma, FMCG, metal, and realty sectors of Nifty.
Buy on dips strategy working well in Indian stock market amid sharp rebound
The surge in the Indian stock market on Friday helped the Indian benchmark indices end the week on a positive note. A strong 2,000-point rebound from the lows suggests that the buy-on-dips strategy is working well in the market, experts said on Saturday.