Going ahead into this week, investors are likely to tread carefully as the U.S. Federal Reserve's meeting scheduled Tuesday-Wednesday, its outcome due likely this midnight, will be closely monitored.
Indian stock indices opened marginally in the red on Monday, with the benchmarks witnessing mild profit booking. Investors may have taken some money off the table after the indices hit their fresh highs last week.
Indian stock indices touched fresh highs on Friday, largely due to strong overnight cues from US markets and consistent fund inflows by foreign portfolio investors.
Indian stock indices traded steady Wednesday early trade, after they were in the green for the past three-to-four sessions. As it seems, investors possibly are looking for mild profit booking.
Indian stock indices plunged Thursday morning tracking weak global benchmark US markets, which fell as its central bank Federal Reserve said another hike in interest rate may be needed to tame inflation and bring it to 2 per cent target.
Indian stock indices traded marginally higher Friday, primarily due to some fresh buying, after they witnessed widespread selling pressure over the past two-three sessions.
Indian stock indices traded sharply lower Wednesday and settled in the red with widespread losses in all sectoral indices. The decline was primarily due to weak market sentiment in global markets.
They were largely steady for the past two sessions, primarily due to a lack of fresh bets at higher levels. Some investors who recently accumulated gains were apparently booking their profits.
Several analysts have been pointing out that any further rally from the current peak seems unlikely as valuations were higher, and that is what seems to have been happening in the past two-odd sessions.
Indian stock indices extended their losses from the previous session and traded deep in the red Friday morning, primarily due to continued profit booking after the latest bull run -- the indices had touched all-time highs earlier this week.