IGI Logo

Markets remained volatile on the weekly expiry day and settled with a marginal cut. After the initial uptick, the benchmark drifted lower and traded with a negative bias for most of the session. However, a rebound in select index majors in the final hour trimmed some losses. Consequently, the Nifty index settled at 15,938; down by 0.18%, Meanwhile, sectoral indices traded mixed wherein IT, banking and realty ended with losses whereas oil & gas, power and consumer durables ended with gains.

Besides global headwinds, the domestic cues are also portraying a mixed picture. On the benchmark front, it’s critical for Nifty to hold 15,900 else the bias would shift sideways to negative. While most sectors are trading in tandem with the benchmark and drifting lower, defensive like FMCG and pharma are still holding strong. Participants should maintain a cautious stance and align their positions accordingly.