Quote on Daily Market by Vikram Kasat - Chief Business Officer – Advisory and Dealing at PL Capital
Below the Quote on Daily Market by Vikram Kasat - Chief Business Officer – Advisory and Dealing at PL Capital
"Indian equities are witnessing profit booking after Tuesday’s sharp rebound, with the Sensex declining 207 points to 72,827 and the Nifty falling 82 points to 22,640. Rising crude prices amid geopolitical supply concerns and sustained FII selling are weighing on sentiment, raising concerns over imported inflation, rupee stability and corporate margins. Sectoral divergence remains pronounced, with IT gaining 1.41% while pharma declined 1.44%, indicating selective buying rather than a broad-based recovery. Gold prices and global interest-rate expectations remain key external factors to watch. Going forward, earnings visibility, crude price movements and foreign fund flows will determine market direction. Investors should prioritise fundamentally strong companies, maintain a disciplined approach and avoid chasing short-term rebounds."
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Sensex falls 252 points, Nifty slips below 22,650 as pharma, healthcare stocks drag
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