🐻 The Indian market’s four-day rally came to a halt as the Sensex fell 153 points and the Nifty slipped below 25,050, driven by profit-taking in banking, auto, and pharma stocks.
🐂 Despite the broader market dip, the IT sector gained ground as investors positioned themselves ahead of the Q2 earnings season, with TCS set to announce its results.
🐂 Titan Company shares surged nearly 5% after reporting a strong 20% YoY growth in its consumer business for the second quarter, signaling robust festive season demand.
🐂 Newly-listed Saatvik Green Energy was a standout performer, with its stock jumping 10% after reporting a massive 459% YoY increase in its Q1 net profit.
🐂 In a move to improve market integrity, SEBI raised the minimum size for block deals from ₹10 crore to ₹25 crore and mandated that these trades must be delivery-based.
The market took a well-deserved breather today, but the dip wasn’t a sign of widespread panic. Instead, we witnessed a classic sectoral rotation as money moved out of banking and into IT ahead of the earnings season. The session revealed that while the headline indices may have paused, strong undercurrents remain. Exceptional corporate scorecards and positive business updates are being rewarded handsomely, proving that the market is becoming more selective. This consolidation appears healthy, allowing traders to recalibrate before the next potential move driven by corporate results.
Stay sharp.
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