Post market comment by Mandar Bhojane, Research Analyst, Choice Broking
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Indian markets halted a five-day winning streak as the Nifty plunged below 22,400 amidst volatility on April 26th. By the session's close, the Sensex recorded a decline of 609.28 points or 0.82 percent, settling at 73,730.16, while the Nifty dropped 150.30 points or 0.67 percent to 22,420.
The market downturn today can be attributed to global factors, particularly the decline in US markets following slower-than-expected GDP growth and persistent inflation in the country. Looking ahead, as we enter the fresh month expiry period, the market might exhibit a range-bound behavior due to the ongoing election month. Bank Nifty is anticipated to find strong support around 48,000, while the Nifty is likely to find support in the range of 22,325 to 22,400.
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