The domestic markets remained volatile with the focal point being the US FOMC meeting, indicating rate cuts. Valuation-related concerns linger as earnings season will be critical to gauge market ‘froth’. Nifty support stands at 21,700 and resistance at 22,300, causing continued volatility, experts say.
Nifty ended positively for the third consecutive session at 22,096.75, with Asian stocks mixed and European stocks slightly lower but on path for ninth weekly gains. Central banks signaling looser policies and upcoming rate cuts boosted investor confidence, leading to the positive market sentiment.
According to Bank of America Corp., US equity funds saw redemptions of $22 billion, the largest since December 2022, reflecting market volatility. As investors turn more confident in the economy and anticipate rate cuts, markets remain unpredictable. Stay tuned for more updates on the market trends and developments.–IANS
San/arm
