Nifty closes marginally in green

New Delhi: Nifty swung between gains and losses before closing marginally in the green on July 25, says Deepak Jasani, Head, Retail Research, HDFC Securities.

At close, Nifty was up 0.04% or 8.3 points at 19680.6. Volumes on the NSE continued to be on the higher side. Broad market indices rose more than the Nifty even as the advance decline ratio ended in the positive at 1.02:1.

Asian stock markets followed Wall Street higher on Tuesday after China’s ruling Communist Party promised to shore up its sagging economy ahead of a Federal Reserve meeting that traders hope will announce this interest rate cycle’s final increase. European stocks made muted moves on Tuesday, he added.

Vinod Nair, Head of Research at Geojit Financial Services said Indian indices hovered along the flat line, waiting ahead for the crucial decision of Fed policy.

Metal stocks rose due to China’s commitment to provide policy support to its realty sector, while utilities were up in anticipation of demand & improvement in operating margin.

The recent correction of the domestic market can be attributed to several factors, including muted start to Q1 results, a reversal in FII activity, a rising dollar index, and an increase in crude oil prices, he said.