Stock market today, 4th April: Day trading guide for Nifty 50 to Sensex, six stocks to buy or sell on Thursday
Stock market today: On account of weak global market sentiments ahead of the US Fed chairman Jerome Powell's speech on Wednesday, the Indian stock market remained range-bound throughout the Wednesday session. Out of three frontline indices, The Nifty 50 index and the BSE Sensex ended lower whereas the Bank Nifty ended in the green territory on the previous session. However, the broad market indices continued outperforming the key benchmark indices as the small-call and the mid-cap indices gained over 0.50 percent.
"The Nifty index traded in a narrow range with a negative bias to close flat at 22,435 levels. The broader market outperformed with the Nifty mid-cap 100 up 0.4% and the Nifty Smallcap 100 up 1%. Sector-wise it was a mixed bag with PSU Bank being the top gainer.
Markets are trading with caution ahead of the RBI policy meeting and key macro data to be released in the US and Europe. Also, US Fed Chair Powell's speech will be keenly watched. We expect the market to consolidate over the next few days until the events unfold," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
Also Read: Day trading stocks: Anand Rathi expert recommends three shares to buy today On the outlook for the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "The near-term uptrend of the Nifty index remains intact and a decisive move above 22,550 is likely to pull Nifty towards the next crucial hurdle of 22,800 levels in a quick period. Immediate support for Nifty today is placed at 22,300 levels." On the outlook for the Bank Nifty today, Om Mehra, Technical Analyst, SAMCO Securities said, "Bank Nifty ended at 47,545.45, down 0.07%. Private banking stock weakened at the fag end of the
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