Stock specific actions, volatility continue

Equity benchmark Nifty extended its losing streak, slipping nearly 100 points on Sensex weekly expiry to hit a onemonth low around the 25,500 mark amid profit booking and persistent FII selling concerns.

- Motilal Oswal Team

The selling pressure was more painful in the Midcap and Smallcap segments, reflected in a weak advance-decline ratio of 1:4 for Nifty 500 stocks.

In last week's edition we highlighted that despite all the positive developments taking place and macro indicators also looking good, benchmark indices Nifty is facing consolidation near 26,000/26100 reflecting Profit booking at higher levels. This was visible with the market mood index hovering around Greed and Extreme Greed Zone. And this exactly got played out this week.