Today’s Action
Nifty, -0.5%, Sensex, -0.7%, Model Portfolio, +0.4%; MSI Ind 47, -0.8%, Nifty Midcap, +0.1%, Smallcap -0.3%.
Daily Market Review
Market Status: Rally Attempt
The Nifty fell 0.53% today and closed below 10,850 level. Investors seem more cautious ahead of inflation numbers and IIP results, due today. Moreover, concerns regarding NBFC crop up amid a report that Indiabulls Asset Management Company and DHFL Pramerica Mutual Fund have seen their assets fall by more than half in the December quarter.
With respect to sectoral performance, Nifty Realty (-1.4%) witnessed more selling pressure followed by Nifty Financial Services (-1.0%), IT (-1.0%), Bank (-0.8%), and FMCG (-0.7%).
The market status remained unchanged. Nifty is trading well above its key support levels. We will look for a legitimate follow-through day, after which we will upgrade the market to a Confirmed Uptrend.
The advance-decline ratio was in favor of losers. Of the 2,068 stocks traded on the NSE, 733 advanced, 1,002 declined, and 333 remained unchanged.
Stocks in News
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