FII net buy shares worth Rs 7,470 crore, DIIs net sellers of Rs 3,202 crore

Market Performance

In today's session, the market’s fiery run continued, with the Nifty locking in its best weekly performance in four years, soaring 4.27 percent — the highest since February 2021, when it had surged 9.46 percent in a week. The Sensex wasn’t far behind, posting its best week since July 2022, with a 4.2 percent gain that underscored the market’s unrelenting momentum.

The Nifty breached 23,400 intra-day for the first time in two months before closing at 23,350, up 160 points. The Sensex roared 557 points higher to 76,906, while the Nifty Bank surged 531 points to 50,594. Broader markets kept pace, with the Midcap index jumping 706 points to 51,851 as investors chased opportunities beyond blue chips.

"Following a remarkable recovery, Nifty has now approached its critical resistance around the moving averages ribbon at 23,400. A decisive breakout above this level could further fuel momentum, potentially driving the index towards the 23,800-24,100 range. On the downside, the 22,750-23,000 zone is expected to serve as crucial support. Given the recent surge, traders should focus on selective stock-picking with a favorable risk-reward ratio rather than chasing momentum," Ajit Mishra, Senior Vice President at Religare Broking said.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.