Derivatives strategies: 11,100-11,200 mark a key support for Nifty

The rupee has hardened however, with foreign portfolio investors selling equity but buying into rupee debt

The market cracked substantially in the Budget session and it fell more steeply on Monday. The bearish trend seen in the loss of approximately 3 per cent in the major market indices was reinforced by poor advance-decline ratios and the high volumes associated with Budget-related trading.

Declines outnumbered advances by over 4:1 since the Budget session. While fast-moving consumer goods and the financial sector held up on the Budget session itself, both those sectors broke down on Monday. As such, there have been no sector-specific gains, with every sector marking losses.

The rupee has hardened however, with foreign portfolio investors