Investors Stay on Sidelines as Nifty Ends in Red
New Delhi, March 26 (IANS): Nifty closed with a loss of 75 points at 22,021 while the broader market saw Nifty Midcap and Smallcap 100 up by 1% and 0.4% respectively. Despite mixed sector performance, realty, oil & gas, and consumer durables saw buying interest. The shortened trading week and upcoming global economic data releases have kept investors cautious.
According to Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services, the market is expected to consolidate in a broader range with a possibility of buying in the broader market before the financial year-end. Vinod Nair, Head of Research at Geojit Financial Services, highlighted that the domestic market is following global trends and is likely to see volatility due to the fiscal year-ending truncated week and reduced trading volumes.
Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, noted that Nifty closed at 22,004 down by 0.42% while Sensex closed at 72,470 down by 0.50%. Additionally, Bharti Hexacom, a subsidiary of Bharti Airtel, is set to enter the primary market with a Rs 4,275-crore offering. The IT sector continues to face challenges following weak global IT spending forecasts.
In conclusion, the market is bracing for volatility as investors await key economic data releases and navigate through a shortened trading week. Mixed sector performance and cautious optimism regarding market movements before the financial year-end are signaling a challenging yet potentially rewarding period for investors.
–IANS
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