Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty closed lower for the second consecutive session on April 18. At close, Nifty was down 0.26% or 46.7 points at 17660.2. Broad market indices rose more than the Nifty for the second straight session even as the advance decline ratio was up at 1.12:1.
Global markets struggled to make much headway on Tuesday as investors weighed Chinese data that pointed to an uneven recovery, as well as the possibility of further policy tightening by the Federal Reserve and other central banks amidst mixed corporate earnings data.
Nifty continued the downtrend amidst sluggish activity levels. It could now remain in the 17574-17759 band for the near term.