Consolidation changes to bullish move! What's driving the market?

Good Evening Everyone,


As the market opened today morning, it gave bearish signals, but then the IT sector just did not leave it at that and drove the Nifty to yet another record high leading to a close above 16600 for the first time.

The daily chart indicates that the game is not over yet, and we could see some good amount of volatility tomorrow due to the weekly expiry tomorrow. Day after being a holiday, we need to see if any interesting moves can change the trend in Nifty.

The FIIs continued to sell for a net of Rs. 343 crores, while the DIIs continued to buy for a net of Rs. 266 crores.

Sector Watch:


FMCG & IT were the front runners to take up Nifty while Nifty PSU bank was down led by SBI.



Top Gainers:


Tata consumer went to its all-time high with Wipro & TechM also hitting an all-time high today leading the 2 sectors today.



Top Losers:


JSW Steel was among the top loser for the day along with Adani Ports & Tata motors as we could see them consolidating further.


That's it, for now, team, let us catch up tomorrow for the pre-market report.



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