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Live: Nifty to consolidate further amid subdued global cues? Bharti Hexacom IPO opens | Opening Bell

Indian equity market snapped three-day gains and closed moderately lower on April 2. The consolidation is likely to continue in the coming days too, especially ahead of RBI policy meeting, with the Nifty 50 likely taking support at 22,300-22,200 in coming days, experts said, adding on the higher side, 22,500 is expected to be key hurdle for the index as breaking of the same may take the index towards 22,700-23,000 levels. On April 2, the BSE Sensex was down 111 points at 73,904, while the Nifty 50 fell 9 points to 22,453. The volatility index hit a fresh 2024 closing low, giving more support to the bulls. The India VIX, the fear index, dropped 3.56 percent to 11.65, the lowest level since November 24, 2023. The broader markets outperformed benchmark indices and extended upward journey for yet another session. The Nifty Midcap 100 and Smallcap 100 indices gained 1.2 percent each. JSW Energy, NALCO are some of the stocks that will be in focus today. Meanwhile, Bharti Hexacom IPO will open for subscription today. MPC’s three-day meeting kicks off today and the RBI is expected to hold interest rates in the first policy of FY25. What is the best investment strategy when the market is perched at record high? Should you increase allocation to largecaps? Catch Nandita Khemka in conversation with Aashish Somaiyaa, CEO, WhiteOak Capital AMC and Rajesh Palviya, Senior Vice President Research (Head Technical & Derivatives) at Axis Securities.

first published: Apr 3, 2024 09:08 am