Stock picks of the day: Nifty50 has crucial support at 11,600 levels

Markets further drifted lower amid volatility last week, tracking uncertain global markets and not so supportive local cues. The lingering trade war tension combined with geopolitical risk pressurized the world indices including ours.

On the domestic front, delay in the arrival of monsoon and issue related to liquidity and corporate governance also weighed on the sentiment.

Markets settled marginally lower in a range-bound session on Monday, in absence of any fresh trigger. Mixed global cues lead a flat start in the benchmark index and it gradually drifted lower as the session progressed.

Participants are closely eyeing developments on the global front however signals are still indecisive and that may cause further consolidation.