Daily Markets Wrap - April 11, 2022 - HDFC Securities

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

Nifty fell for the fourth out of the past five sessions on April 11 dragged down by IT stocks ahead of the Q4 results. Nifty opened gap down, but recovered later to make an intra day high at 1335 Hrs. It fell once again to close near the intra day lows. At close Nifty was down 0.62% or 109.4 points at 17674.9.

On a day when the volumes on the NSE were lower than recent averages, Power & Oil & Gas indices rose the most while Capital goods and IT fell the most. BSE Midcap and Smallcap indices rose 0.38-0.41%.

Shares globally slid on Monday as caution gripped markets ahead of central bank meetings and U.S. inflation data. Chinese stocks tumbled on Monday as mounting concern over a Covid outbreak at home and rising global interest rates added to persistent regulatory headwinds.

Nifty fell once again after a day of recovery. Advance decline ratio however remains positive signifying pressure of FPI selling in largecaps. 17522-17600 could be the next support band for the Nifty while 17784 could be the resistance for the near term.

Source : Equity Bulls

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DailyMarketsWrap HDFCSecurities Sensex Nifty Midcap Smallcap