Today’s rally looked much better compared to recent bounce attempts. This time it was not just a few big stocks pulling the index up. Buying was visible in pharma, metals, capital market stocks and many midcaps also stayed strong till market close. Banks gave strong support to the rally and pharma stocks saw good buying after strong results from the sector. IT stocks were the weak spot again. Traders are still worried about weak global tech spending and AI impact on some IT businesses. Interesting thing today is market stayed strong even with crude oil still high and rupee near record weak levels. Looks like traders are focusing more on earnings and improving global sentiment for now instead of worrying too much about crude and currency pressure. For tomorrow, market will watch PMI data, US economic numbers and crude oil movement closely.

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