Mumbai, Jan 24 (SocialNews.XYZ) FIIs continue to be sellers in the market this week.
"We expect the domestic and FPI volumes to remain tepid during truncated week, as most long only investors to stay defensive and wait for clear trading trends to emerge in the last week of January," said Jaykrishna Gandhi, Head of Business Development, Institutional Equities at Emkay Global Financial Services.
The coming week will also be event heavy with multiple results and the interim budget on February 1 (Thursday).
"However, over the medium term, we expect flows to pick up gradually, given the inflation stability and expected political steadiness post elections," he said.
Nifty forms bearish candle, losses to deepen on slip below 21,300, if the index breaks the 21,300-mark in the coming sessions, the correction can deepen to 20,850. On the higher side, 21,400-21,500 may act as a hurdle, Gandhi said.
The banking sector weakness continues with mixed number being reported by the large private sector banks, HDFC Bank, Axis continuing the downtrend, he added.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
