Market Wrap - 20 May

welcome to the market wrap . We will see how the market was yesterday, how the index performed, sectoral performed, and what the trend of the market is in the coming time. So nifty was 1% down yesterday, approximately 261 points down. Now let's see each index. So yesterday overall, every index was down, whether it was Nifty, midcap, small cap, or next 50. Nifty was down by approximately 2%, precise 11.85, followed by mid cap, followed by overall market, then Nifty, and small cap was the lowest yesterday. So, let's see each index one by one. So nifty, the place where it opened on Thursday, on its expiry day, has come to the same level. Still, it is trading above its 21-day moving average. So, the trend is still positive, but there is a little bit of wait and watch scenario. When there is a little bit of positivity, then we can also play out a bullish trend, and that too in those stocks or sectors in which the bullish trend is already going on. If we look at the Nifty next 50, whenever there is a steep rise, when the market goes up, then there is a profit booking, because the vertical moves, which are upside, sustain a little less. Every sector was down because the overall market was down. But the most down sector was defence, 2.3% was down. Defence sector was also running quite a lot in the last month, so there was a profit booking in that, followed by auto, tourism, consumption, and the least dropped were IT and metal. Now let's see the overall trend, so if we see Nifty 500, the trend is still bullish, even though we have seen a fall in the market. And the market never goes up one way, there are corrections and profit bookings in between. So, it's still going on, but there are some global scenarios that can have an impact on the market; those are major countries, the their bond yields are rising, which has a negative impact on the equity market. In a short time frame, when the market starts showing a bullish trend, then it's a good thing to participate.