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The dollar held steady after its biggest rally since June, as traders awaited speeches from key Federal Reserve policymakers for clues on interest rate cuts. Investors reassessed the aggressiveness of future rate reductions, with Fed officials showing differing views. The dollar index eased slightly, while other major currencies saw minor changes.

Anand Tandon, an independent analyst, discusses the current robust market sentiment despite new IPOs from companies like Swiggy and Hyundai. He highlights the cyclical nature of brokerage businesses and suggests looking at housing finance companies over real estate stocks. Tandon also sees strong support for gold due to central bank buying.

This feeds into the consumer cycle as well. So, the setup in terms of the corporate and economic background is very good. However, in the past two years, because of the sharp rally, some areas have become a little expensive. That’s why markets are now looking for milestones.

In the options market, the highest Call open interest is at 27,000, followed by 26,000, while the maximum Put open interest is at 25,000 and 25,900. Call writing has been noted at 26,060 and 26,150, while Put writing is observed at 25,900 and 26,000.

Discount brokers are increasingly entering the margin trade funding (MTF) space to diversify revenue streams as futures and options trading faces regulatory scrutiny. Companies like Zerodha, Groww, and Fyers are launching or testing MTF products, while early movers like Mstock and Angel One have already built significant loan books in this area.