The biggest downside for the market is the continued selling by FIIs.


New Delhi (Uttam Hindu News): The major downside to the Indian stock market in the near term is the continued selling by FIIs, which is likely to continue. In the month of September, FIIs have sold Rs 26,689 crore in the cash market. V.K., chief investment strategist at Geojit Financial Services. Vijaykumar has said this.

There are mixed signals for the October series, which has historically been a good month for the markets.

He said the dollar index rising above 107 and US 10-year bond yield at 16-year high of 4.68 per cent are the major headwinds for the market. FIIs are likely to continue selling due to rising dollar and US bond yields.

But, the positive side is that Brent crude prices have fallen by 5 percent. Due to this, DII and retail investors will support the market. He said these negative and positive factors are likely to continue to cause market volatility in the near term.

Vaishali Parekh, Vice President – ​​Technical Research, Prabhudas Lilladher, said Nifty recovered slightly to touch 19,720 levels from 19,500 levels after a sharp fall in the previous session.

On Tuesday, BSE Sensex fell by 381 points to 65,446 points. Maruti Suzuki is down 2 percent in business.

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