Daily Markets Wrap - April 26, 2023 - HDFC Securities

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

Nifty ended in the positive for the third consecutive session on April 26. At close, Nifty was up 0.25% or 44.4 points at 17813.6. Volumes on the NSE fell compared to the previous day. Broad market indices rose marginally more than the Nifty even as the advance decline ratio remained positive at 1.29:1.

Most global equities fell on Wednesday, after softening U.S. data and renewed banking sector concerns fanned fears of a recession and dampened risk appetite.

Nifty formed a high low bar which is almost the same as the previous session but it closed higher. Recovery from early morning weakness in Nifty was quite sharp and sustained. Volume expansion and wider buying in largecaps may be required for the Nifty to rise beyond 17863. 17863-17612 could be the range for the Nifty in the near term.

Source : Equity Bulls

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