Market looked weak if you only saw the index numbers today. But inside the market, things were actually much better. Nifty moved in a small range and closed slightly red. Bank Nifty also stayed under pressure because private banks were weak. But the interesting part is broader market was strong. Midcaps performed well and advancing stocks were much higher than declining stocks. This shows money is still flowing into many individual stocks even though the index looks slow. IT stocks led the rally today after global tech sentiment improved a bit. Realty, capital market and internet-related stocks also saw good buying interest. The bigger concern right now is not stocks, it’s crude oil and the rupee. Rupee fell near record lows against the dollar, while crude oil is still trading near $110 because of the US-Iran tensions. Higher oil prices can increase inflation pressure for India. Oil prices cooled slightly later in the day after reports said the US delayed a possible strike on Iran. Markets will closely track this because crude oil is currently moving global markets. Things to watch tomorrow: • Crude oil movement • Rupee near record lows • Global bond yields • Whether midcaps stay strong So even though the index looked dull today, stock-specific action is still very active.

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