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FIIs & DIIs turn net buyers today! Is it a reversal confirmation?

Good Evening Everyone, As written in the Title and as we discussed in our weekly meet, we could see power coming into the Nifty today as both institutional went on to buy in the market today.

The DIIs bought for Rs. 228.06 Cr while the FIIs bought for Rs. 860.5 Cr.

Though the Nifty started flat this morning after weak global cues, Due to buying by the institutional, we could see the Nifty going up today and closed higher at 17691.

The Nifty did try to go 17750, but faces stiff resistance and came back down.

On the daily chart, Nifty has formed an indecisive candle with a bearish bias and hence we need to keep a watch on tomorrow's trade and global cues to prepare ourselves for tomorrow.

Sector Watch:

There was broad buying in the market, mainly in the Media, Metal, PSU banks, and Realty sectors. Also, every sector ended in the green today.

Top Gainers:

Divis lab was the top gainer today after news came that it will be manufacturing the new drug, that could help reduce hospitalization or death due to Covid.

Otherwise, we could see Metal stocks like Hindalco, Financial service companies like Bajaj Finserv among the top gainers.

Top Losers:

Cipla and Grasim were top losers for the day as Grasim has received a Tax Notice from the IT dept with a demand of more than Rs. 8000 crores.

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


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