The markets are expected to remain in consolidation mode, with Nifty trading in a range and closing with marginal gains of 22 points at 21839 levels. Oil & Gas, Realty, and FMCG sectors were major gainers, with Oil & Gas index rising to 1.3% as crude oil price surged to a 5-month high at $87/bbl.
Siddhartha Khemka, Head Retail Research, Motilal Oswal Financial Services, stated, “The broader market ended flat, while sector-wise it was a mixed bag.” On the global front, England’s inflation cooled to 3.4% for February, and China’s central banks kept their benchmark lending rates unchanged.
Deepak Jasani, Head of Retail Research, HDFC Securities, mentioned that investors awaited the conclusion of the Federal Reserve’s meeting, where the central bank is expected to keep borrowing costs unchanged and provide cues on its monetary policy trajectory. Asian shares closed mostly higher, while European markets opened lower as investors awaited the latest signals from the Federal Reserve.
