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Indian stocks saw buying on Thursday after three days of selling as investors grabbed stocks at low valuations. Analysts also believe this is the right time to pick quality stocks at a lower valuation.

Market continues to be under pressure amid soaring inflation and sell-off in shares globally. Indian benchmark indices also fell for the third consecutive day on Wednesday. Analysts believe this is the right time to pick quality stocks at lower valuations.

The Nifty ended below 16,150 in yet another volatile session on May 24, as the index squandered the gains to end in the red amid selling across sectors. The index ended 89.50 points, or 0.55 percent, lower at 16,125.20. It formed a small-bodied bearish candle with a long lower shadow, indicating that the tug of war between the bulls and the bears will continue.

The markets still haven’t fully discounted rising US interest rates, inflation risks, outcomes of geopolitical tensions and commodity and crude oil prices, Radhika Ravishekar, chief investment officer at General Insurance Corporation of India, said in an interview to Moneycontrol. She ruled out the possibility of indices setting record highs soon, saying volatility is expected to continue. Even in the case of a recovery, there will be some selling on every rise until conditions stabilise, said Ravishekar. Edited excerpts:

Despite the rebound, we feel the market has not reached its bottom, since price patterns on the Nifty50 show that the uptrend has been significantly harmed, said Yesha Shah, Head of Equity Research, Samco Securities.

Nifty failed to capitalise on a firm start, as it ended up forming a small bearish candle on the daily chart, with a long upper wick, reflecting selling pressure near the 16,400 level. But analysts are unfazed and see no major impact on the positive momentum post Tuesday's big bullish candle.

NEW DELHI: Nifty50 on Tuesday formed a large bullish candle on the daily chart -- after making what looked like a Bullish Harami candle in the previous day, sending signs of reversal. With this, the index has chalked out a new range after offering strong support at the lower end of the 15,750-16,150 range in the last few sessions. More upside is likely in the coming days, analysts said.

NEW DELHI: Nifty50 on Monday snapped a six-day losing streak but formed an indecisive Bullish Harami candle on the daily chart. Analysts said the recent selling pressure seems to have halted and that a close above the 15,900-16,000 level could send signs of a rebound ahead.

"We believe that unless the market sees a steep correction further, the faith of retail investors will remain and domestic flows will continue," Ashutosh Tiwari, Managing Director - Research, at Equirus, told Moneycontrol in an interview. Retail has made good money in equity markets over the last two years, especially when other investment options like debt and gold have not generated good returns. On the market correcting sharply, "while one can't rule out a small correction further, we believe that the possibility of a bounce-back is high," Tiwari said.

Such a candle has a bullish connotation if it is followed by a positive close in the next session, said analysts, who see immediate resistance in the 16,20-350 range and index support at 16,000.

Mumbai: Foreign funds' ownership in domestic equities fell to pre-COVID lows and hit a multi-year low of 19.5 per cent in March this year in NSE500 companies valued at USD 619 billion, shows an analysis.

The markets had a very weak day on Friday as it inherited a severely weak global trade setup. Following a deep red overnight in the US markets, the Asian markets too started on a negative note. India was no exception. The Nifty saw a gap-down opening on Friday and continued to trade with losses throughout the day.

NEW DELHI: Domestic equity markets ended another week on a poor note, dropping 1.5 per cent in the last session and an overall fall of 4 per cent during the week. Friday's session wiped off about Rs 4 lakh crore from investors' kitty.

The National Stock Exchange on Wednesday said Assets Under Management (AUM) of all the Exchange Traded Funds and Index Funds tracking Nifty 50 Index have crossed Rs 2 lakh crore.

Nagaraj Shetti, Technical Research Analyst at HDFC Securities said Thursday's movement indicates a lack of strength to sustain the highs. "But, it also signals a halt in a sharp follow-through weakness after a sharp downside breakout of the 16,800 level in the previous session. If Nifty50 manages to sustain above 16,600 level and shows upside bounce from here, then one may expect chances of upside bounce in the market," Shetti said.