Market Recap: Flat Close with Sectoral Rotation
GIFT Nifty futures were down 369 points, trading at 24,342.50,
Indian markets ended the day on a flat note, with notable buying observed in the Automobiles, Pharmaceuticals, and Oil & Gas sectors. The Nifty August Futures closed at 24,455.40, up 66.65 points, reflecting a premium of 49.30 points over the spot index.
Foreign Institutional Investors (FIIs) were net sellers in the cash market, offloading shares worth ₹2,605.49 crore. They also reduced their positions in index futures, with net selling amounting to ₹3,087.52 crore.
The India VIX, a measure of market volatility, increased by 7.26% to end at 12.62. It touched an intraday high of 13.22, indicating heightened market uncertainty.
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