The Indian equity markets concluded the trading session with little change on September 3rd, 2024. The benchmark indices, Sensex and Nifty, remained within a narrow trading range throughout the day.
Key Market Movements
Market Analysis
Despite a positive start, the market spent most of the session in the negative territory. However, a late recovery helped the indices close with minor losses.
Expert commentary
Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas, noted that the Nifty has been steadily inching higher due to sector rotation. He expects the index to target levels of 25,500.
Osho Krishan, Senior Analyst - Technical & Derivatives, Angel One, highlighted the range-bound movement of the Nifty and the lack of a clear trend. He identified 25200 as a key support level and 25350-25400 as intermediate resistance.
Outlook for September 4
Investors will be closely watching the Bank Nifty for any signs of increased buying activity, which could provide momentum to the market. However, given the recent consolidation, a cautious approach is advised for those looking to buy shares online.