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Live: Will Nifty resume uptrend after a day’s break? RBI setback for JM Financial | Opening Bell

Indian equity market is likely to consolidate further in the coming sessions, though overall trend remains positive, experts said, adding the 22,200 is expected to be immediate support for the Nifty 50 followed by 22,000 mark, with hurdle on the higher side at 22,500 mark. On March 5, the benchmark indices snapped four-day winning streak with the BSE Sensex falling 195 points to 73,677, while the Nifty 50 declined 49 points to 22,356. Meanwhile, India VIX was down by 3.63% from 14.92 to 14.38 levels. The broader markets were also under pressure with the Nifty Midcap 100 and Smallcap 100 indices down 0.3 percent and 1.2 percent respectively. Among stocks in focus, watch out for Bajaj Auto as its Rs 4,000 cr share buyback opens today. JM Financial will be in focus after RBI directs the firm to halt financing against shares, debentures. Two block deals likely today – Zomato & Samvardhana Motherson. Meanwhile, lots of action in the primary markets. Gopal Snacks IPO kicks off for subscription today. Catch Nandita Khemka decode the cues for trade with Rajesh Palviya, Senior Vice President Research (Head Technical & Derivatives ) at Axis Securities and Swarnendu Bhushan, Co-Head of Research, Prabhduas Lilladher.

first published: Mar 6, 2024 09:05 am