Good Evening Everyone,
Though I had thought that Nifty would go into consolidation today, the big news of ARAMCO trying to strike a deal with Reliance to buy some more share in the company, gave a boost to the Nifty today.
FIIs took this as an opportunity to book profits and sold for Rs. 1088 Crores while the DIIs continued to buy for Rs. 506 crores.
The Nifty continued to form a bullish candle on the daily chart, though small, is still a positive sign.
Nifty Metal went on the steal the show today as TATA steel got a rerating buy major analysts and hence that went on a rally lifting the metal sector up by 1.48%
Tata steel went on to become the top gainer of the day, up by 3.67%, followed by Bajaj Finance & M&M which actually woke up from sleep after a long time.
The auto sector lagged behind today and Maruti continued to be the top loser for the day, followed by Shree cem where we could see profit booking. We still patiently wait for the Auto sector to recover in the coming day. That's it for now, let us catch up tomorrow with the pre market report.