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Published on 18/02/2020 5:49:40 PM | Source: Religare Broking Ltd

We would remain cautious on the Indian markets in the near term by Mr. Ajit Mishra

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Below is the Views On Market Analysis by Mr. Ajit Mishra, VP - Research, Religare Broking Ltd.

 

Bears continued to dominate the Indian equity benchmark indices, led by unsupportive global cues. The Nifty opened in the red and traded with negative bias throughout the session, finally ending 0.4% lower at 11,993 levels. The broader market indices BSE Midcap and Smallcap too ended lower by 0.6% and 0.5% respectively. On the sector front, IT, Capital Goods and Oil & Gas were the gainers while Telecom, Metal and Auto were the major losers.

Weak domestic data, muted earnings and the concern over global economic growth slowdown due to coronavirus is likely to weigh on the markets sentiments. Hence, we would remain cautious on the Indian markets in the near term. Investors would keep a watch on movement of currency and crude oil prices.

 

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