Pre-market action: Here's the trade setup for today's session
If the market had a spirit animal today, it would be a yo-yo on a particularly strong downward pull. Looks like domestic equities decided to reenact 'The Great Fall of 2024' chapter one, with broad-based selling making sure no sector felt left out of the party. Your portfolio isn't just taking a breather; it's practicing its free-fall technique, just to keep you on your toes – or perhaps, on the edge of your seat.
In more sobering news, domestic equities indeed declined sharply, witnessing broad-based selling pressure that spared no sector. This pervasive downturn sent the India VIX surging, a clear signal of heightened market volatility and a palpable increase in investor fear. With global tensions casting long shadows, analysts are largely anticipating a continuation of sideways trading, albeit with a distinct negative bias. Adding to the prevailing sentiment, foreign portfolio investors have maintained a cautious stance, contributing to the selling pressure as they reassess their positions amidst the uncertain global landscape.
