Foreign institutional investors (FIIs) offload Rs 35,658 crore in Indian stocks in early January, citing rising US bond yields and a weakening rupee. Financials suffer the most with Rs 12,200 crore sold, while minimal buying is seen in textiles and media. Analysts recommend focusing on quality stocks and defensive sectors, anticipating continued volatility.
Tech View: Nifty faces crucial resistance at 23,500; breakout needed to negate bearish sentiment. How to trade on Friday
Hardik Matalia of Choice Broking warns that if the Nifty breaks below the crucial 23,000 support level, it could fall further to 22,500. To negate