Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty ended in the negative on June 29 after two days of gains as the late morning rally after a gap down open fizzled out towards the end of the session. At close, Nifty was down 0.32% or 51.1 points at 15799.1.
Volumes on the NSE were the highest since June 17. Despite the fall, Indian markets were among the best performers in the Asian region. Among sectors, Power & Oil & Gas indices rose the most while Banks, IT and FMCG indices fell the most. Broader markets were weak as the Midcap index fell 0.74% and the advance-decline ratio ended in the negative.
Global stock markets slipped for the second straight day on Wednesday on growing fears that policymakers bent on dampening inflation will tip their economies into recession.
Nifty has shown signs of rising from the opening low levels over the past few sessions. However, it is not able to build on the gains in the session. Nifty could remain in the 15638-15927 band over the next few sessions.