Market Recap 26 July 2021

Markets had a subdued opening and traded in a narrow range throughout the day. The market breadth was weak as 30 of the Nifty50 stocks closed in the red.
Among the Nifty sectoral indices, Metal (+0.6%) and Pharma (+0.3%) were the top gainers, whereas Realty (-0.9%) and PSU Banks (-0.8%) were the top losers.
Asian Markets except Nikkei Index closed in red. European Markets too closed in red. In the opening minutes US is giving mixed signals. India Vix has risen by 5.84%.
Today also FIIs were net sellers. There has been a constant pressure of selling by FIIs who are also reducing positions in Index Futures and Index Calls. They are bearish towards Indian Markets. With 15900/16000 proving to be strict resistance now , I suggest a more conservative approach to trading and investments.