A morning walk down Dalal Street | Bounce back looks inevitable, Nifty may rally towards 10,900

Four straight days of fall after hitting a high 11,118 surely signifies loss of confidence among investors

Even positive global cues are not able to take the Nifty higher which is a cause of concern. Mid & small cap rebounded after many days of correction; however, investors are yet to find stability in the market 

One positive takeaway from Thursday’s session was the fact that WPI numbers came in at 2.76% in Jan compared to 3.8% in Dec. The decline in inflation may further increase the probability of the RBI to cut interest rates in the coming months

On a day when benchmark indices tested crucial support levels, over 400 stocks on the BSE including Arvind, Ashok Leyland, CG Power, Coal India and Hindalco, hit their 52-week low. 

On the other hand, only a handful of stocks such as UPL, Avas Financiers hit fresh 52-week high on the BSE.

The advance-decline ratio was in favor of losers. Of the 2,066 stocks traded on the NSE, 836 advanced, 875 declined, and 355 remained unchanged.