D-Street turns cautious ahead of US trade deal deadline
snapped two consecutive weeks of gains Friday, with volatility ahead of the July 9 India-US trade deal deadline, profit booking, and regulatory action on
Jane Street
kept
D-Street
momentum subdued.
NSE's
Nifty
rose 55.7 points or 0.2% to close at 25,461. BSE's
Sensex
rose 193.42 points or 0.23% to end at 83,432.89. Both indices have declined about 0.7% this week.
"On Friday, investor sentiment was cautious amid regulatory developments and global uncertainty," said Vikram Kasat, head of advisory at PL Capital. "
Sebi
's interim action against US-based quant fund Jane Street weighed on broader confidence, while concerns over a possible US tariff announcement ahead of the July 9 deadline kept risk appetite muted."
The US President had announced a 90-day pause on the imposition of import tariffs, and India indicated hopes to strike a trade deal before the end of this deadline.
Despite this, Kasat said, the India
VIX
stayed near nine-month lows signalling subdued volatility. The Nifty Volatility Index or VIX- the fear gauge of the market, fell 0.6% to 12.3 levels on Friday.
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