The domestic equity market is likely to trade range-bound on Tuesday as caution prevails ahead of the outcome of two-day policy review by the US Federal Reserve that concludes later in the day. Volatility is expected to rise amid quarterly earnings and ahead of Thursday's expiry of October series futures and options contracts.
At 07:45 am, Nifty50 stock futures on the Singapore Stock Exchange were trading 15 points lower at 8,230, indicating a rangebound opening in the domestic market. Experts felt that Nifty50 could test the 8,200 level in the short term. They pointed out that marketwide rollovers on D-2 (two days ahead of expiry) climbed to 46 per cent, which was higher compared with the average rollovers of 44 per cent in the past three F&O series.
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