Market Wrap – Nifty manages to bounce back after the recent sell-off with a marginal 32 points gain in today’s session.
Cash market volumes backing this up move however is dismal, which raises doubts in terms of the validity of this move. So far, 7700 seems to be acting as a decent enough support for the index and as long as this level holds, we can expect the index to post further up sides. From a short-term point of view, immediate resistance is at (7790-7800), which now acts as an important level of supply.
The performance of the sectoral indices were as follows:
The top 5 gainers and losers of today are:
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