Stories
Stock Market Faces New Decline Risk Amid 45000 Crore Sell off and Anuj Singhal Advice
- •Foreign Institutional Investors have sold shares worth approximately Rs 45,000 crore over the past six trading sessions, putting pressure on the market.
- •CNBC AWAAZ Managing Editor Anuj Singhal advises investors to remain cautious as the current upswing might only be a temporary relief rally.
- •The Reserve Bank of India has introduced special measures to meet the dollar requirements of oil companies and ease pressure on the rupee.
- •Escalating tensions in West Asia and Houthi attacks have driven up crude oil prices, potentially increasing pressure on India import bill.
Key Questions Answered
The ongoing market pressure is driven by persistent selling from Foreign Institutional Investors (FIIs), who have offloaded shares worth approximately Rs 45,000 crore over the past six trading sessions. Additionally, concerns over corporate earnings growth, crude oil prices, and the movement of the rupee are contributing to the cautious sentiment.
To ease pressure on the rupee, the RBI arranged for designated banks to provide dollars directly to oil companies like HPCL, BPCL, and IOC, cutting down open market dollar purchases. Furthermore, the RBI raised the daily minimum Cash Reserve Ratio (CRR) limit for banks from 90% to 99%, effective October 16, 2026, and announced a Rs 25,000 crore Open Market Operation (OMO).
According to CNBC-AWAAZ Managing Editor Anuj Singhal, Nifty may retest its 10 and 20-day Exponential Moving Averages around 22,650 and 22,950. The 22,400 to 22,450 range serves as the first support level, while 22,650 to 22,700 acts as the initial resistance.
