Nifty saw a day of quiet trade with the expiry of March contracts seeing less volatility as the index closed lower by 30 points seeing intraday swings of just 120 points.
Bank Nifty closed with gains of 30 points, with AU Bank, Bandhan Bank & Axis Bank leading the gainers while Bank of Baroda, HDFC & Kotak finished on the losing side. Metal stocks lead the gainers while pharma, Hindalco & Reliance saw profit booking.
US Market: US markets see proof booking as it ends the 1st quarter of the year with losses after 2 years. This as Dow Jones closes lower by 500 points while Nasdaq loses over 200 points.
Bond yields close near 2.33% while oil prices fall further as President Biden releases oil reserves to combat the rise in prices.
Asian Market: Asian indices opened in the red as the Japanese “NIkkei” traded lower by 250 points while other markets also traded mildly lower following the weak US cues.
The important event for the day would be the peace talks agenda between Ukraine/Russia which could see more signs of positive communication between the two. Chinese stocks will also see action as value buying sees foreign buying.
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