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Analysts say the market will continue to trade sideways in the near term, with the Nifty hovering within a broad range of 500-600 points

Focus shifts to Nifty’s 22k milestone, with corporate earnings and elections later in the year expected to drive the market from here

Indian headline indices, S&P BSE Sensex and Nifty Bank, traded in the green on Friday led by strong gains in bank and IT stocks. Adani Ports and Special Economic Zone, BPCL, ICICI Bank, Coal India, and Hero MotoCorps were the top gainers, while Eicher Motors, Larsen & Toubro, Maruti Suzuki, Power Grid, and Britannia Industries were the top losers. Shares of fintech major One 97 Communications, which runs Paytm, crashed another 20% after RBI barred Paytm Payments Bank from offering all kinds of banking services for non-compliances.

Market experts maintain a bearish bias and have cautioned investors against aggressive long positions ahead of two events

Experts feel 21,000 is expected to be key to watch in the current week, which is full of events including interim budget, and FOMC meet outcome, while on the higher side, 21,500 is likely to be key hurdle, followed by the resistance of 21,700 levels.