Markets so far today - March 4, 2020 - Deepak Jasani- Head Retail Research, HDFC Securities

Indian markets ended with modest losses on Wednesday after a sharp recovery in the late afternoon session amidst volatile trade. The Nifty lost 52.3 points or 0.46% to close at 11,251.

Indian markets came over a weak opening reflecting the overnight weakness in the US markets. The unscheduled rate cut by the US Fed created fears about the depth of financial problems across the globe. However later market participants sought signs of further fiscal measures which could be of help at this stage. European markets rose and Dow futures also reflected this optimism. India's PMI Service for Feb (fastest since Jan 2013) and Australia's Dec quarter GDP numbers came in better than expected and helped investor sentiments.

Technically, while the Nifty has bounced back from the lows, the short term trend remains down. The Nifty will have to convincingly cross the recent highs of 11433 to reverse the downtrend.

Source : Equity Bulls

Keywords