Despite the index seeing buying on dips, the near-term trend seems to be sideways, said Mazhar Mohammad of Chartviewindia.in, adding that strength should emerge on a Nifty50 close above 17,777, while weakness should be expected on a close below the 17,400 level.
RBI: Govt to buy back bonds worth Rs 40,000 crore; move to ease tight liquidity
The unexpected move is also seen bringing down yields on short-term government bonds, as the three securities that the government has chosen to buy back