Broader Markets Hint At Bottom Fishing As Nifty Nears 200-DMA, Trades Near Early May Lows

Join us for the latest market commentary on Business Today Television, where we break down an eventful trading session. The Nifty has staged a spirited fightback from a three-month low, climbing past the crucial 24,500 mark, with strong contributions from banking heavyweights and select PSU stocks. We analyse the significance of this level, the 200-day moving average, and what the recent six-week losing streak could mean for market sentiment. From the surprising rebound in the IT index to sharp moves in HBL Engineering, TVS Supply Chain Solutions, and PSU banks, we explore the key gainers, laggards, and sectoral trends. We also look at the impact of disappointing earnings from frontline companies, the government’s stake sale buzz in smaller PSU banks, and why volumes remain the missing piece for a sustained rally. Whether you’re a seasoned investor or a market enthusiast, this in-depth analysis will help you understand the forces shaping the market and why this could be a strategic time to review your SIPs.