0402 Closing Market Comments

Domestic benchmark index Nifty dipped marginally after hitting

record highs in the previous session as bulls took a breather

following a 3-day rally. Mixed global cues and profit booking

in financials weighed. IT stocks also dropped after fresh US

data added to worries of a delayed rate cut.

Broader markets, outperformed, as both Nifty Midcap 100 and

Nifty Smallcap 400 indices rose in trade.

The 10-year US benchmark yield hitting 4.323% could weigh on

sentiment and prompt overseas investors to offload shares in

emerging equities, including India. Local investors could

exercise caution ahead of RBI policy later this week although

it is more likely that interest rate may remain steady due to

inflation above the comfort level

In terms of operation, seize the rare market correction

opportunity and make arrangements for bargain hunting.

There are great opportunities for stock market movements during

the election period.