On Wednesday, we did have the frontline indices consolidate and the midcaps outperform. But, the Nifty still posted a record close and the midcap index was also at a record close in Wednesday’s trading session.The momentum was intact because we had 52.8 percent of the stocks which advanced in yesterday's trading session.India's market capitalisation hit a record high crossing Rs 300 lakh crore for the first time ever.Foreign institutional investors (FIIs) continued to pump in money and they bought around Rs 1,603 crore in yesterday's trading session.In terms of the global markets, the FOMC minutes pointed to a rate hikes at a slower pace. The US markets which closed marginally lower, Asia which is weak and the GIFT Nifty which is indicating a marginally lower start as well.Brent crude did see a marginally up move. Brent and crude are trading around $76 per barrel.

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06 Jul 2023