Post Market Analysis | 30 June, 2026

The market remained under pressure for most of the day. Nifty and Bank Nifty traded in a narrow range but slowly drifted lower as the session progressed. By the closing bell, both indices ended in the red. The interesting part was that the broader market told a different story. Midcaps and Smallcaps managed to close higher, and advancing stocks were comfortably ahead of declining stocks. That shows buying was still visible outside the index heavyweights. The biggest drag on the market was IT. The sector continued to see selling after weakness in US-listed ADRs over the last few sessions. That kept pressure on the index, even though several other sectors held up well. Defence, Realty, Consumer Durables, Chemicals and Tourism stocks attracted good buying interest and managed to close with decent gains. The rupee weakened by another 12 paise and closed around 94.7. It is still trading at a weak level and remains something to watch over the coming sessions. Another positive development was the fall in India's 10-year bond yield, which may support interest rate-sensitive sectors if the trend continues. From a market structure point of view: • Nifty stayed below the 24,000 mark • IT remained the biggest drag on the index • Midcaps and Smallcaps continued to outperform • Market breadth stayed positive despite the weak index Tomorrow, traders will keep an eye on global markets and any fresh updates from the US technology sector, as IT stocks continue to influence the index. For now, the index is looking weak, but the broader market is still holding up well. As long as Midcaps, Smallcaps and market breadth remain healthy, this doesn't look like a broad-based sell-off yet.