Market Commentary

Daily Markets Wrap - March 24, 2023 - HDFC Securities

Posted On : 2023-03-24 18:19:22( TIMEZONE : IST )

Daily Markets Wrap - March 24, 2023 - HDFC Securities

Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty continued to fall for the second consecutive session on March 24 pulled down by weak global cues. At close, Nifty was down 0.77% or 131.9 points at 16945.1. Broad market indices fell more than the Nifty even as the advance decline ratio fell to 0.32:1.

Global markets were mostly lower on Friday with traders remaining cautious as lingering concerns about the recent turmoil in the banking sector continue to hang over the markets amidst fears of economic slowdown.

Nifty has made a short term top at 17207. It could go towards 16748 over the next few days. Over the week, it fell 0.91%, down for the third week. 17324 could be the resistance for the next few days.

Source : Equity Bulls


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