25 April, New Delhi, The Indian market indices traded mostly unchanged on Tuesday morning after reaching a peak the day before.
The indices traded strongly on Monday, and the Sensex increased by around 400 points. “Markets had a good week’s start and increased by more than 5%. After the initial gain, Nifty traded subduedly for the first few hours, but apparent purchasing in key banking and financial companies changed the mood as the day (on Monday) went on, according to Ajit Mishra, VP of Technical Research at Religare Broking.
Investors will continue to keep an eye on the listed businesses’ profits as well as the most recent trends in foreign investment in Indian stocks for new cues.
“Whether the present rally can continue is the key issue in the near term. Since the market needs support from other markets, particularly from the mother market US, the answer would primarily depend on global cues, according to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“This week is crucial for the US since many major US tech companies will be releasing their earnings reports this week. More crucially, US GDP and inflation figures are anticipated this week and will help predict the Fed’s interest rate decision next week, according to Vijayakumar.
According to Deepak Jasani, Head of Retail Research at HDFC Securities, financial markets in the Asia Pacific region were broadly weaker on Tuesday following a similar session on Wall Street as investors anticipated US earnings due out later this week.
