As global markets are struggling, analysts expect the Indian peers to move in a narrow range with downward bias. House Speaker McCarthy and President Biden will likely draw their red lines and try to signal a willingness to work with the other side,” said Edward Maya, Senior Market Analyst at The Americas, OANDA. While the Nifty is finding some profit booking at higher levels, the overall Market structure remains positive,” he added. It was a range-bound trading session for the indices as the markets did not witness any significant move and the market breadth also was even-steven, said Ruchit Jain, Lead Analyst at 5Paisa.com. Also, the Nifty index has surpassed last week’s high but the Bank Nifty index hasn’t, which is another divergence.

Source: The Hindu May 10, 2023 03:30 UTC