Market stayed under pressure throughout the day and almost every sector ended in red. Nifty closed below 23850. Banks, realty, PSU stocks, oil & gas and consumption stocks saw heavy selling. Market breadth was also weak the whole day, which shows the weakness was across the market and not just because of a few big stocks. The main problem now is crude oil and rupee weakness. Brent crude is still above $104 and rupee fell near record low levels around 95.3 against the dollar. Since India imports a lot of crude oil, rising oil prices and weak rupee together are creating pressure on the market. Global markets are also cautious because of continuing Middle East tensions. One interesting thing today is Pharma and Healthcare stocks held up better than the rest of the market while high momentum sectors saw sharp selling. Tomorrow market will mainly watch: • Crude oil movement • USD/INR movement • Bond yields • Any new updates related to US-Iran tensions Right now, global and macro factors are controlling the market more than individual stock news.

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