Daily Big Picture – Distribution Hits Nifty; Broader Indices Fightback

Today’s Action:

Nifty succumbs to distribution, while broader indices stage superb recovery.

Daily Market Review:

On expected lines, India’s key indices came under the pump right from the word go. Rising inflation concerns in the U.S. jolted global market sentiment, resulting in a gap-down opening in India’s benchmark indices.

While both the Sensex and Nifty tried their best to recover lost ground in the final hour of the session, weak fiscal deficit data dashed the hopes of market optimists. Eventually, the Nifty and Sensex ended the day with losses of 0.6% and 0.5%, respectively. Continue reading “Daily Big Picture – Distribution Hits Nifty; Broader Indices Fightback”

Daily Big Picture – Distribution Sets In As Nifty Faces Resistance At 50-DMA

Today’s Action:

India’s key indices turn weak, as they face stiff resistance at their 50-day lines.

Daily Market Review:

After a promising start to the week, today’s session turned out to be a damper for the market.

Stock market optimists had nothing to cheer about, as early-session gains turned into a 0.3% loss for both the key indices. Continue reading “Daily Big Picture – Distribution Sets In As Nifty Faces Resistance At 50-DMA”