Nifty ends in red as investors sit on sidelines

Nifty traded in adverse territory all through the session to shut with a lack of 75 factors at 22,021, Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, has stated.

Broader market, nonetheless, outperformed with Nifty Midcap and Smallcap 100 up 1 per cent and 0.4 per cent, respectively.

Sector-wise it was a blended bag with shopping for seen in realty, oil & fuel, and shopper durables.

Shortened buying and selling week, the derivatives month-to-month expiry together with world financial knowledge to be launched this week has stored the investors on the sidelines, he stated.

“Overall, we count on the market to consolidate in a broader vary, nonetheless, shopping for in a broader market earlier than the monetary year-end can’t be dominated out,” he stated.

Vinod Nair, Head of Research, Geojit Financial Services, stated aligned with world traits, the home market sustained its consolidation sample, ending near 22,000.

While key knowledge such as US GDP and inflation throughout the week could present some clues on future fee reduce paths, the fiscal year-ending truncated week, coupled with lowered buying and selling volumes and month-to-month expiry, are prone to contribute to volatility.

Generally, midcaps are performing nicely put up the consolidation of the final 2-3 weeks, whereas the IT sector continued to expertise sluggishness following weak world IT spending forecasts, he stated.

Vaibhav Vidwani, Research Analyst, Bonanza Portfolio stated Nifty closed on a adverse observe at 22,004 down by 0.42 per cent whereas, Sensex closed at 72,470 down by 0.50 per cent.

Bharti Hexacom, a phone and web providers supplier and a Bharti Airtel subsidiary, is ready to enter the first market with a Rs 4,275-crore providing.

(With inputs from IANS)