Daily Markets Wrap - Jan 11, 2023 - HDFC Securities

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

Nifty ended lower for the second consecutive day on Jan 11. It ended almost unchanged after a day when moves on either side were reversed in equal measure later. At close, Nifty was down 0.1% or 18.5 points at 17895.7. Volumes on the NSE continued to be on the lower side. Midcap index fell more than the Nifty even as advance decline ratio improved to 1.03:1.

Global stocks were largely higher on optimism over reopening in China, hopes of less aggressive U.S. interest rate hikes aided the sentiment and traders bet that US consumer price data on Thursday will show further softening.

Nifty continues to be range-bound in a wide band of 17774-18141. A move on either side of this range could result in accelerated move in that direction.

Source : Equity Bulls

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