Hello Everyone, as discussed in the pre-market report, Asian markets were down and the same effect could be seen in India too. There was a generic selling across all sectors led by the IT & Energy sector, which could be seen in the market today. MArkets again closed with a red candle on the daily chart indicating a short-term bearishness in the market.
The market again opened with a gap up and went on a selling spree. Took support at 15700 and went sideways for some time, but after that, by end of the day, we could see some more selling that broke 15700 but again rose up to close to 15700.
Pharma & Auto led the day, As I said in the morning, Auto sales data will be out tomorrow and we could see that positivity in the market today though by a small margin.
Dr. Reddy was the top gainer for the day, up by 2.75% followed by Hindalco at 2.07%.
Bajaj Finserv, Britannia & Infy were among the top losers for the day, as we could see some profit booking in them after the amazing rally all these days.
That's it, for now, team, let's meet tomorrow with the Pre market report to see what we can expect tomorrow.
- Srikant Rajan