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Live: Market turns volatile ahead of Budget; How should you position yourself? L&T, Maruti in focus

Indian equity market turned rangebound ahead of couple of key events like FOMC meet outcome and interim budget. Experts say the Nifty 50 may take support at 21,400-21,300 area in case of further correction and on the higher side, it may face resistance at 21,700-21,800 zone. On January 30, the BSE Sensex dropped 802 points to 71,140 points, while the Nifty 50 declined 216 points to 21,522, after hitting the hurdle of 21,800. The volatility climbed above 16 mark for the first time since March 16 last year, which seems to have created discomfort for bulls. The India VIX, a fear index, rose 3.65 percent to 16.10, from 15.68 level. Global cues are mixed this morning with the Gift Nifty hinting at a lower start. Among stocks in focus will be L&T, Dr Reddy’s, Maruti, Sun Pharma and PB Fintech. Catch Nandita Khemka in conversation with Kush Bohra ,Founder, kushbohra.com and Market Expert Anshul Saigal

first published: Jan 31, 2024 08:34 am