An evening walk down Dalal Street: Nifty's movement suggests buying interest missing

A day of consolidation for the Indian market just ahead of the 'Holi' holiday suggests that traders preferred to remain on the sidelines. The S&P BSE Sensex closed with positive bias while Nifty50 managed to hold on to 11,500 levels.

But, can we say that the momentum is fizzling out? To a certain extent, yes. But a close above 11,556-11,600 would negate that theory, and investors will be better off staying with financials.

The final tally - the S&P BSE Sensex rose 23 points to close at 38,386 while the Nifty50 closed 11 points lower at 11,521 on March 20.