Daily Big Picture – Key Indices End at Record High

Today’s Action:

Strong global cues pushed key indices higher; broader market follows suit. Nifty (+0.2%), Sensex (+0.4%), Model portfolio (-0.05%) and MSI Ind 47 (+0.9%).

Daily Market Review:

The Indian market picked up from where it left off on Friday as both the Nifty and the Sensex closed at a record high.

Amid strong global cues, frontline indices observed a gap up opening and remained firm throughout the day.

Broader market indices also had a strong day as the Nifty Midcap and Smallcap advanced 0.5% and 0.2%, respectively.

The overall market breadth remained strong with gainers outnumbering losers in a ratio of 7:5 on the NSE.

On the sectoral front, top gainers were Nifty PSU Bank (+2.6%), Energy (+0.8%), and Bank (+0.7%). The top losers were Nifty Pharma (-1%), FMCG (-0.7%), and Realty (-0.6%).

The market direction remains unchanged at a Confirmed Uptrend with a low distribution day count of one on the Nifty and two on the Sensex. The Nifty Midcap and Smallcap are still in a Rally Attempt.

Current Outlook:

– Market environment conducive for purchases, but remain selective.

– Focus on fundamentally strong stocks breaking out of solid technical patterns.

– Stay disciplined and exercise sound buy and sell rules.

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