Daily Markets Wrap - Sep 21, 2023 - HDFC Securities

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

Nifty fell for the third consecutive session on Sept 21 pulled down by negative global cues. At close, Nifty was down 0.80% or 159.1 points at 19742.4. Volumes on the NSE were surprisingly on the lower side on such a trending day. Broad market indices fell marginally more than the Nifty even as the advance decline ratio fell further to 0.46:1.

Global equities sank Thursday and the dollar advanced after the US Federal Reserve indicated it could hike interest rates again this year and keep them elevated longer than feared as it struggles to bring inflation under control.

Nifty fell on Sept 21 with a second consecutive downgap displaying the amount of bearish sentiments prevailing. Nifty could now remain in the 19645-19865 band for the near term. Intra day rises in the near term could face profit taking/sell on rise.