Street signs: Trend weak on FPIs, Electronics Mart India IPO, and more

Analysts are upbeat on shares of ceramic tile manufacturers, even as their July-September quarter performance is likely to be weak

Trend weak on FPIs raising bearish bets

Friday’s sharp upmove notwithstanding, the markets remain on a weak footing as foreign portfolio investors (FPIs) continue to raise bearish bets. “FPIs have rolled over their short positions in the index futures segment, which indicates their bearish stance for the October series. As of now, we are reading Friday’s upmove as just a pull-back within a short-term downtrend. Our markets are not out of the woods yet. They could continue to see higher volatility and witness selling pressure at higher levels,” says Ruchit Jain, lead research, 5Paisa. Technical analysts say the immediate support for