Daily Markets - May 25, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian benchmark equity indices ended little changed on May 25 after a volatile session. Nifty opened higher, but started to fall soon thereafter. After making an intra day bottom at 1430 Hrs, a small recovery followed. At close, the Nifty was up 10.80 points or 0.07% at 15208.50.

Volumes on the NSE were a little short of recent averages as participants did not want to carry forward a lot of positions ahead of the F&O expiry on May 27. Among sectors, Consumer Durables and IT gained the most, while Banks and Power fell the most.

Asian stock markets followed Wall Street higher Tuesday as inflation fears eased and investors regained an appetite for risk. European shares rose to record highs on Tuesday, aided by a rally in tech stocks after soothing comments from the Federal Reserve and efforts by China to nail down commodity prices.

Nifty has again run into resistance closer to 15300 levels. Reports of a fresh stimulus package in India have raised hopes of an economic turnaround soon. 15137-15294 will be the trading band for the Nifty in the near term.

Source : Equity Bulls

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