Markets are expected to consolidate in the near term as investors focus on Q4 earnings season."We expect a consolidation in the near term, leading investors to seek refuge in bonds and gold," says Vinod Nair, Head of Research, Geojit Financial .
The benchmark NSE Nifty50 and the S&P BSE Sensex indexes each settled about 0.2% higher at 22,402 and 73,853, respectively. Nifty on Wednesday ended 34 points higher to form a Doji candle on the daily chart which indicates indecisiveness prevailing in the marketplace at the current juncture.
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Twelve out of 15 Nifty sectoral indices were trading in the green. The Oil & Gas and Realty indices gained over 1 percent, followed by Auto and IT indices which also witnessed buying action