Where is the market headed?
Today, the markets gave us a very mixed day. The first half was steady and looked positive, but the second half turned into a sharp fall. Many stocks were hit hard, and it felt like a complete sell-off. Still, there is hope that the rally which started two days ago can continue.
One key reason is the news around US tariffs. The executive orders related to tariffs are being challenged in court, and the courts are not fully accepting them. At the same time, our administration seems confident and is building new ties with other countries to improve business prospects. This may help markets stay stable even if the overall mood looks weak.
Market Overview
Looking at Nifty, it opened higher, touched 24,756, but then fell sharply to 24,522. The index closed just below yesterday, down 0.18%. This shows that the uptrend is still not confirmed. However, yesterday’s gains were not completely lost, which means the support level near 24,400 is still holding.
Nifty Next 50
On the other hand, Nifty Junior closed higher by 0.5%, showing that selling pressure was mainly concentrated on large caps.
Nifty Mid and Small Cap
Mid-Caps also managed to stay slightly positive, and Small Caps closed above their two-day high, which is a good sign.
Bank Nifty
The biggest weakness came from Nifty Bank. It erased yesterday’s gains and closed near a four-month low. If banks continue to drag, the overall market may find it difficult to recover.
GOLD
Gold showed strength during the day. Prices touched ₹10,528 per gram and also tested the key resistance of $3,500 per ounce internationally. Whenever markets get volatile, gold usually moves up, and this was clearly seen today. If gold breaks above $3,500, it may quickly run towards $3,700–3,800.
Advance Decline Ratio
Heat Maps
In stocks, Tata Motors, Mahindra, Dr. Reddy, Cipla, Kotak Bank, HDFC, and ICICI Bank all saw losses. Reliance was strong in the first half but closed up just 0.9%. Power stocks like NTPC and Power Grid did well. FMCG stocks such as Dabur, Nestle, and Colgate also supported the market.
Mover Of The Day
MRF jumped 6.2% on hopes of a GST cut on tyres, hitting a new high.
Sectoral Overview
Sector of the Day
Nifty CPSE Index
Nifty FMCG Index
FMCG stocks such as Dabur, Nestle, and Colgate also supported the market.
Tweets Of the Day
From a bigger picture view, trends in travel and education also show changes. Indian travel to the US fell 8% in June, and student enrollment numbers in the US are also falling sharply.
Another key trend is that global central banks are now holding more gold than US treasuries for the first time in 30 years. This shows a major shift in global financial thinking.
