Domestic equity benchmark indices ended marginally lower in opening deals on Wednesday. At 9.57 am, the Sensex was down 148 points at 55,418, while the Nifty was down 34 points at 16,550.
Stocks in other Asian countries were stable on Wednesday, said Deepak Jasani, head of retail research, HDFC Securities, while bond yields extended their gains amid debate that aggressive monetary tightening would be required to fight inflation.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “A clear trend is unlikely to emerge in the market in the near term. DIIs and retail investors will buy at lower levels, propelling the market.”
He added that investors can follow a cautious investment strategy in this uncertain context by buying high quality stocks, which will benefit from the recovery of growth. He said major financial, IT, cement, telecom and auto segments are good investment bets.