Stock market today: Nifty 50, Sensex end higher for 4th consecutive session; smallcaps falter
Stock market today: Extending gains into the fourth consecutive session, frontline indices the Sensex and the Nifty 50 ended at their fresh closing highs on Monday, March 4.
Despite touching new closing highs, market benchmarks saw modest gains due to mixed global cues and the absence of significant triggers.
The market lacks fresh triggers at this juncture which is keeping it in a range. Experts point out that most positives, including robust economic growth and political stability after the General Elections 2024, are already discounted.
According to Taher Badshah, Chief Investment Officer at Invesco Mutual Fund, it is going to be a period of low triggers in the market—not much in terms of actionable events to look forward to, except for policy rates at a global level, the monsoon development, and the election results from a domestic standpoint.
Investors now focus on central bank events and macro data this week that will influence the mood of the market.
“Federal Reserve Chair Jerome Powell testifies before lawmakers on Wednesday and Thursday, though analysts assume he will stay in wait-and-see mode on policy given recent upside surprises on inflation that have helped temper market rate cut bets,” reported Reuters.
Nifty 50 closed at 22,405.60, up 27 points, or 0.012 per cent while the Sensex settled at 73,872.29, up 66 points, or 0.09 per cent.
(More to come)
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