Ahead of Market: 10 things that will decide stock market action on Wednesday
benchmark indices closed flat on Tuesday, with blue-chip IT stocks gaining, while market participants exercised caution ahead of key inflation data from India and the United States due later in the week.
The benchmark S&P BSE Sensex declined 1.59 points to settle at 81,510.05, while the broader Nifty 50 index closed at 24,610.05, lower by 8.95 points or 0.04%.
Here's how analysts read the market pulse:
Commenting on the day’s action, Ajit Mishra – SVP, Research at Religare Broking said the markets remained range-bound for another session, closing nearly unchanged as the recent rebound paused.
“Despite the consolidation, the continued buoyancy in midcap and smallcap stocks is encouraging. Additionally, rotational participation across most sectors is sustaining the positive sentiment during this phase. Traders should maintain a stock-specific approach, focusing on long positions unless Nifty decisively breaks below the 24,300 level,” said Mishra.
US markets
Wall Street opened mixed on Tuesday as investors remained cautious ahead of key U.S. inflation data expected later this week.
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