Domestic markets range bound before US inflation data

New Delhi, Jan 11: In anticipation of inflation data from the US, the Indian market exhibited range-bound trade, Vinod Nair, Head of Research, Geojit Financial Services, said.

Though investors anticipate US inflation to ease, global markets, expecting a CY24 interest rate cut, have already priced in optimism, he said.

Profit booking occurred amid moderating Q3 corporate earnings and concerns about premium valuations. Selling pressure on IT stocks stemmed from weak earnings estimates, he added.