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Indian equities trade in a tight range ahead of June-quarter earnings
The Nifty 50 settled up 0.1% at 24,636 after trading between 24,500 support and 24,700 resistance, while FIIs sold ₹943.4 crore in the cash market despite DIIs buying ₹2,883.2 crore.
Indian equities ended 6 August in a narrow trading range as positive domestic macroeconomic signals offset persistent foreign outflows and weaker global cues, according to LiveMint Markets. The Reserve Bank of India raised its FY27 GDP growth forecast to 6.7% while lowering its inflation projection to 5%.
Softer Brent crude prices near $78 a barrel supported buying in heavyweight segments including oil and gas, pharmaceuticals, and infrastructure. Still, continued FII selling capped upside, with foreign investors offloading ₹943.42 crore in India’s cash market as domestic institutional investors bought shares worth ₹2,883.17 crore.
Market participants also stayed cautious due to profit-taking in private banking stocks ahead of key June-quarter earnings and volatility around the weekly derivatives expiry. The Nifty 50 was confined between support at 24,500 and resistance at 24,700, reflecting subdued price action despite a marginally positive close.
The index opened at 24,641.00, reached an intraday high of 24,677.05, fell to a low of 24,604.15, and settled at 24,636.00, up 11.35 points or 0.05%. Weakness across other parts of Asia, including Japan’s Nikkei and South Korea’s Kospi, added to the cautious tone.
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