Nifty, +0.5%; Sensex, +0.6%; Nifty Midcap, -0.3%; Nifty Smallcap, +0.4%; Model Portfolio, +0.2%
Market Pulse Confirmed Uptrend
Nifty made a gap-up opening, taking cues from global markets. However, as the session progressed, it traded sideways in a narrow range and closed near the day’s low holding meaningful gains. Volume was higher compared with yesterday’s session. Nifty continues to close in the green for six consecutive sessions and is currently trading 2.4% above its rising 21-DMA. Broader markets took a breather today. Nifty Midcap was down 0.3%, while Smallcap closed 0.4% higher.
On the sectoral front, mixed results were observed. Nifty Media led the rally with a gain of 2% followed by Nifty Pvt Bank which was up 1.7%. On the flip side, Nifty Pharma staged a reversal and declined 1.4% whereas Nifty IT and Realty were down 0.6% each. Market breadth continues to remain skewed toward advancers. Of 2,179 stocks traded, 1,052 advanced, 798 declined, and the remaining traded flat.