Global markets were very strong today, but Indian market stayed mostly quiet. Even after positive signals from US, Europe and Asian markets, Nifty moved sideways around the 24,300 zone for most of the day and closed almost flat near 24,326. Yesterday’s strong rally didn’t continue much today. But inside the market, things were better. More than 2200 stocks closed in green, midcaps gained more than 1%, and sectors like defence, auto, capital market and mobility stocks saw good buying. Defence stocks stayed strong again as market continued reacting to talks around India’s defence strength and local manufacturing focus. On the other side, IT and FMCG stocks stayed weak as traders moved more towards high-growth sectors. Crude oil cooling down and hopes of easing West Asia tensions helped market sentiment. Rupee also strengthened to around 94.25, which gave some relief. For now, 24,250–24,300 looks like an important support zone for Nifty. On the upside, market is still struggling to move strongly above 24,500. Tomorrow, traders will watch crude oil, bond yields and any new updates from West Asia.

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