It's been a very sluggish expiry session. Since morning, the Nifty has not found any strength despite good global cues. We have more or less struggled around that 5,800 level.
We haven't slipped too much, but Reliance and ADAG Group stocks have been quiet a weight for the Nifty to carry. It has just not managed to overcome that. The breadth is also not special. The volumes are not high for an expiry session.
Overall, the Nifty seems to be circling around 5,800 levels for the course of the day, despite some pretty impressive results coming in from individual companies.
There has been some pressure going into expiry, not only for the frontliners, but also at the market breadth. Reliance is playing a little bit of spoil sport. Not only is it pulling the Nifty down a bit, it is also affecting sentiment. The speed at which it has come down from 1,040 P/E results to 975 now, it has been a deciding factor at the Nifty
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