FIIs net sell shares worth Rs 3,311 Crore; DIIs net buy shares £3,907 Crore. Nifty traded in a tight range for the fourth session in a row amid high volatility. The Sensex reached 0.24 percent lower, at about 75,357 points at closing after trading quite flat during the day. Bajaj Broking’s analysis of today’s market performance was as follows: \”While large cap private banks and defensive sectors like IT, FMCG and PHARMA took a breather, utilities and energy stocks ended on a positive note. Broader market extended out performance with Nifty Midcap 100 and Nifty Small Cap 100 indices closing higher by 1.26% and 1.43% respectively.\” It further mentions that as the Nifty has been trading within a broad range of 22,700–23,050, this consolidation phase should view dips toward 22,800–22,700 as buying opportunities. A breakout above 23,050 would pave the way for further upside, towards the 20-day EMA placed around 23,200 levels.
