The domestic equity market concluded the session on a strong note, with the benchmark Nifty 50 index closing above the 23,900 level. A broad-based rally across sectors, led by IT, realty, and PSU bank stocks, propelled the indices higher. Strong US labor market data, signaling a rebound in job growth, boosted investor sentiment, particularly for IT stocks. Value buying in blue-chip stocks further contributed to the market’s uptrend. Technically, the Nifty may continue its upward momentum, potentially reaching the 24,200-24,342 range next week. However, a crucial support level exists at 23,450-23,400.
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