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However, a non-stop rally of 900 points from 18600 level and a PCR ratio of around 1.50 suggest a slightly overbought condition for the market. The immediate resistance is visible at 19500; a failure to move above 19500 on a sustained basis might call for profit booking in the market.

Overall macroeconomic factors provide comfort as we are seeing a fall in inflation, a pause in interest rate cycles, an increase in foreign investment in the equity markets led by issues being faced globally.

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However, owing to the fast-paced nature of market movements, the window of opportunity is small. Therefore, to procure the maximum benefits at breakneck speed, investors and traders can utilise the fastest-evolving technology, i.e., algorithmic trading.

Investors Shah Rakesh and Satpal Khattar sold shares worth Rs 697 crore and Rs 510 crore, respectively in Eric Lifesciences and IIFL Finance. Meanwhile, HDFC Mutual Fund and BNP Paribas Arbitrage bought shares worth Rs 94 crore and Rs 51 crore in Eric Lifesciences and CEAT.

The move is not expected to trigger any weight changes, a Nuvama report said. MSCI will continue with the half factor for the merged entity and passive trackers will have to sell around USD 150-200 million of the merged entity on the potential index adjustment.

First, let’s look at the fund flows. Currently, India is a hot spot for investment in emerging markets. Foreign institutional investors (FIIs) have demonstrated their confidence in our equity markets by investing Rs 121,728 crores in FY24 so far.

The yellow metal started the week on a positive note, after the ISM Manufacturing PMI in the United States fell to 46 in June 2023, from 46.9 in May and below forecasts of 47.

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A market shift away from the handful of megacap technology and growth stocks that have powered the rally in the S&P 500 is not a given, cautioned John Quealy, chief investment officer at Trillium Asset Management.