Profit booking in mid and smallcaps reflecting worries about stretched valuations ...Middle East

Mumbai: The domestic market exhibited a smart recovery in the second half on Wednesday, reversing initial losses as buying picked up in largecap stocks, said Vinod Nair, Head of Research at Geojit Financial Services. Nevertheless, the broader index continued to underperform with profit booking in mid and smallcaps reflecting worries about stretched valuations, Nair said. The Nifty 50 closed at 22,474.05 on Wednesday, up 118 points, or 0.53 per cent, while the Sensex settled at 74,085.99, up 409 points, or 0.55 per cent, both settling at their fresh closing peaks. The global markets witnessed mixed signals ahead of the US Fed Chair Jerome Powell’s congressional testimony. While it’s widely e

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Last updated : 06 March 2024 clock 02:40 PM

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Profit booking in mid and smallcaps reflecting worries about stretched valuations ...Middle East

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