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Below are Views On Markets traded lackluster and ended marginally higher amidst mixed cues By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded lackluster and ended marginally higher amidst mixed cues. Initially, upbeat global cues triggered a firm start in the benchmark but lack of follow-up buying and profit-taking in the index majors capped the upside. It hovered in a range till the end however movement on the broader front kept the participants busy. Consequently, the Nifty index ended higher by 0.5% at 15,178 levels. On the sector front, IT, Auto and Capital Goods were the top gainers. The broader indices performed in line with the benchmark wherein both Midcap and Smallcap ended higher by 0.8% and 1% respectively.

Nifty has been hovering within the 14,900-15,300 zone and a decisive break on either side would trigger the next directional move. Meanwhile, traders have no option but to limit their leveraged positions and maintain a stock-specific trading approach. The upcoming macroeconomic data i.e. IIP and CPI combined with cues from the global markets will dictate the trend ahead.

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