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IT takes rest, Pharma leads and market closes in an indecisive state. Post Market Report: 16 Jul 21

Good Evening Everyone, After yesterday's turbo run, Nifty consolidated today as we could see heavy profit booking in the IT sector, & the market closed just 1 point lower than yesterday, and throughout the day you could see nifty making violent swings in both directions.

On a daily chart, Nifty has formed an indecisive candle, which means Monday can have a movement on either side based on HDFC results tomorrow.

The FIIs continued selling in the Indian market for a net of Rs. 466.3 crores today and DIIs kept buying to the tune of Rs. 666.07 crores.

Angel Broking hit a 20 percent upper circuit of Rs 1,274 after the firm posted strong results with profit more than tripling in the June quarter.

Bandhan Bank's share price fell 3 percent to Rs 310 after the private lender said its loan book and deposits declined in the June quarter.

Sector Watch:

Top Gainers:

Pharma led the day as there is a high expectation of the pharma sector coming out with good results in the coming days. IT was interesting to see ITC appearing in the top gainers list for the 3rd consecutive day this week.

Top Losers:

Heavy profit booking was see in IT stocks after the huge rally yesterday. And we could see our favourite HCL on the top loser list.

Thats it for now team, lets meet tomorrow evening at 7pm to discuss the plan for next week. Good bye for now.

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