Markets Close Lower as Inflation Damps Rate Cut Hopes
• Domestic indices dropped 1% on Friday due to losses in financial and IT stocks as US inflation data dampened hopes of early Fed rate cuts
• Nifty faces resistance at 22,620-22,650 levels; next support at 22,370
• European shares ended flat after hitting 1-week high early on, as Middle East tensions erased optimism around ECB rate cut hints
• MACD showed bullish signs for stocks like Archean Chemical, Vinati Organics, Tata Consumer, while bearish for Natco Pharma, Ingersoll-Rand
• Overall market breadth favoured bears as more stocks ended in the red; HDFC Bank, RIL, Axis Bank most active in value terms