On Monday, the Nifty experienced a downturn, breaking a two-session rally, and concluded the day lower despite a marginal opening gain, according to Deepak Jasani, Head of Retail Research at HDFC Securities.
Jasani reported that at the close, the Nifty exhibited a decline of 0.91%, equivalent to 197.8 points, settling at 21,513. The cash market volumes on the NSE remained below Rs.1 lakh crore, indicative of subdued sentiments in the market.
In contrast to the Nifty's performance, the small-cap index saw a more modest decline of 0.36%, showcasing a relatively better performance. However, the advance-decline ratio witnessed a sharp fall, reaching 0.64:1. This suggests a decreased breadth in market participation, with fewer advancing stocks compared to declining ones.
These market dynamics highlight the cautious and subdued sentiment prevailing in the market on that particular trading day. Investors and traders were met with challenges, leading to a decline in the broader market indices despite initial marginal gains.
(With Agency Inputs)
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