Thursday’s dull trading for equity benchmark indices followed their Asian counterparts as investors braced themselves for important local and U.S. economic data. The majority of sectors indices saw drops in trading, with Media Pack performing the worst, falling about 2%.
“The market’s extreme volatility has abruptly made it unpredictable. The Nifty 22200 level is seeing significant resistance. Despite FII selling being offset by DII purchasing, yesterday’s more than 1% decline in the Nifty is noteworthy. This is because the holdings were rebalanced one day before the monthly expiration. Since this is the final day of the monthly expiry, the volatility will persist today as well. Investors might hold off till the turmoil passes.