The broader indices witnessed a good recovery from their day’s low on a volatile trading day. Nifty slipped 0.43 per cent but managed to close at 17,250 while Sensex plummeted 200 points.

In context to market expectations from Friday’s RBI MPC meet, Sumit Chanda, Founder & CEO of JARVIS Invest says, “While there have been some indications of the inflation moderating, with the Brent being still above the $100 mark and a falling rupee, we can expect RBI to hike the repo rate by about 50 bps.

Indices traded lower for the most part of the day. Nifty slipped 0.57 per cent while Sensex shredded 347 points. However, Nifty Midcap and Nifty Smallcap closed marginally higher.
 

Indices witnessed a spectacular rally in the last one hour while Nifty rose 0.74 per cent to close at 16,478.10.

Indices recovered towards the end of the trading session. Nifty recovered about 120 points to close at 17,173.65.

On Monday morning the markets fell sharply, as the Asian markets globally plunged by 3 per cent amidst weaker global cues. The International Monetary Fund, on Saturday, said that the war between Russia and Ukraine will have a severe effect on the global economy as the commodities prices have already surged, coupled with the harm to human life and the unprecedented sanctions on Russia.