Concern on valuations keep markets in consolidation phase

New Delhi: The market traded range-bound after touching a new high as higher-than-expected US inflation and anticipation of hawkish ECB policy meetings on Thursday impacted investor sentiment, said Vinod Nair, head (research) at Geojit Financial Services.

Concern over valuations and inflation trajectory due to increasing oil prices may navigate the market into a consolidation phase in the near-term, he added.

S Ranganathan, head (research) at LKP Securities, said: “Banks, autos and realty stocks helped benchmark indices close in the green “as we approached the festive season.”