Daily Markets Wrap - April 25, 2023 - HDFC Securities

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

Nifty ended in the positive for the second consecutive session on April 25 after facing selling pressure on intraday rallies. At close, Nifty was up 0.15% or 25.9 points at 17769.3. Volumes on the NSE were on the higher side aided by heightened activity in financials including Banks. Midcap index ended flat even as the advance decline ratio came in at 1.16:1.

Global stocks fell broadly, and the U.S. dollar also weakened early on Tuesday, as investors weigh corporate earnings and economic growth outlooks in a busy week and grow increasingly nervous about the extent of China's recovery and potential US restrictions on investments in the world's second-biggest economy.

Nifty formed a near doji formation on April 25 suggesting indecision after a day's upmove. Follow through buying in index heavyweights is not happening to the extent expected. 17842-17684 could be the range for the Nifty in the near term.

Source : Equity Bulls

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