Nifty closes almost flat after record highs

After reaching fresh highs throughout the day, the Nifty finished Thursday almost unchanged. Nifty was up 19.5 points, or 0.09 percent, at 22,493.6 at the closing, according to Deepak Jasani, Head of Retail Research at HDFC Securities.

Even though the NSE’s cash market volumes decreased from the previous day, they remained over Rs 1 lakh crore at Rs 1.05 lakh crore. Even though the advance-decline ratio increased to 1.64:1, the broad market indexes increased more than the Nifty, according to Jasani.

According to Motilal Oswal Financial Services’ Head of Retail Research, Siddhartha Khemka, the Nifty settled in the positive region ahead of the holiday weekend, having reached a fresh high above the 22,500 zone.

After being under pressure for the last several sessions, there was some purchasing on the larger market. According to him, the bulk of the sectors had positive endings, with purchases seen in consumer durables, FMCG, metals, and financials.

Significant FII purchasing of almost Rs 2,800 crore on Wednesday helped to maintain the current pace.

Due to Shivratri, the local markets will be closed on Friday.

The conclusion of the ECB interest rate meeting and the US Non-Farm Payroll statistics, which are scheduled for publication on Friday, will serve as key indicators for investors next week. Additionally, the attitudes of the market would still be influenced by the second round of economic data.

“With the current rally concentrated on largecaps, we anticipate Nifty to move towards 22,700–22,750 in the coming days,” Khemka said.