The trading session on Thursday was definitely a very good one for the Indian benchmark indices. The market surged to another record high. The Nifty has now posted a record close for the sixth-straight session, extending its gaming streak to eight consecutive sessions and has rallied 865 points in eight sessions and has crossed 19,500 on an intra-day basis yesterday.The midcaps outperformed, with the advanced decline ratio steady at around 2 to 1 on a year-to-day basis. The midcaps have given returns of around 15%.All the gains came in on Thursday despite caution over the FOMC minutes. FIIs continued to buy into the Indian equity markets. They bought around Rs 2,641 crore in yesterday’s trading session. DIIs however sold Rs 2,351 crore.Today, the set up in the global space seems weak because the US markets closed in the red. Asia is largely weak at this point in time reacting to the US markets.

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07 Jul 2023