Where is the market headed?
The day began with some interesting political drama. President Trump tweeted that India–US relations are improving and that both sides may soon find a negotiating point. But just an hour later, he urged the European Union to put a 100% tariff on India.
Thankfully, the market did not pay much attention to these tweets and continued to move up.
Market Overview
Nifty opened with a gap up and closed the day with a gain of 0.42%. It could not build further momentum after the gap, but even this rise is welcome.
Nifty Next 50
Nifty Next 50 also rose 0.43%.
Nifty Mid and Small Cap
Mid-caps gained 0.95%, erasing the losses from three days ago. Small caps ended with a 0.66% gain.
Bank Nifty
The banking index was up 0.59%. Overall, it was a positive day across the indices.
GOLD
Gold continued its relentless rally, gaining 0.71% to trade around ₹10,971 per 10 grams, now approaching the ₹11,000 mark. This rise has been very unusual, as such rallies usually pause for a few days in between. Jewelers are even charging a premium of ₹2,500–3,000 per 10 grams, which is surprising after such a big run-up.
Advance Decline Ratio
Heat Maps
On the stock front, IT stocks staged a comeback. After the Infosys buyback news yesterday, there is hope that the sector may not be targeted, and that has brought investors back. Auto stocks, however, saw some profit booking after three weeks of a strong rally. Bharat Electronics and Tata Consumers performed well, along with some banking and finance names.
In the Nifty Next 50 space, Dmart, Swiggy, and TVS Motors faced profit-taking, while Hindustan Aeronautics, CG Power, JSW Energy, and Adani Group stocks moved up.
Mover Of The Day
Avanti Feeds jumped 15% after the EU approved 102 new Indian fishery units for export.
Oracle Finance gained 10% as its US parent rallied on optimistic guidance.
Sectoral Overview
Sector-wise, IT led the rally with a 2.6% gain, followed by DefenCe at 2.5% and PSU Banks at 2%. Real Estate and CPSE Stocks also moved up, while Consumption, Media, and Auto Stocks were the only losers.
Sector of the Day
Nifty IT Index
Nifty India Defence Index
Tweets Of the Day
The tweet of the day again came from Trump, sounding friendly towards PM Modi and hopeful of a deal. It seems he is now realizing that dealing with India is not the same as dealing with a small nation.
On the corporate side, Boat reported ₹61 crore profit ahead of its IPO. Many mutual funds are lining up to invest, but there are concerns about how such IPO valuations are being handled.
