Global markets witnessed mixed signals ahead of the US FED chair's testimony to Congress. While it's widely expected that the FED chair may downplay the urgency for rate hikes, the possibility of hints regarding a potential rate cut trajectory cannot be dismissed. Investors are banking on recent FOMC minutes, suggesting the policy rate may have peaked and higher rates could hinder growth. The domestic market exhibited a smart recovery in the second half, reversing initial losses as buying picked up in large-cap stocks. Nevertheless, the broader index continued to underperform with probit booking in Mid & Small caps reflecting worries about stretched valuations