Quote on Markets 06th May 2026 by Mr. Vikram Kasat, Head Advisory, PL Capital
Below the Quote on Markets 06th May 2026 by Mr. Vikram Kasat, Head Advisory, PL Capital
"Indian equity markets staged a powerful rebound today, opening with a significant gap-up as global risk sentiment improved following signals of a potential peace deal in the US-Iran conflict. The cooling of WTI crude oil prices below the $100 per barrel mark provided a much-needed relief to the domestic macros, sparking a broad-based rally. The Sensex and Nifty 50 both witnessed gains of over 1%, with the Nifty decisively reclaiming the 24,300 level, bolstered by exceptional strength in PSU Banks, Chemicals, and heavyweights like HDFC Bank.
While the sharp recovery from Tuesday's lows indicates strong buyer interest at support zones, markets may enter a phase of consolidation near these higher levels. Investors should remain mindful of the high volatility—evidenced by the India VIX—and persistent FII outflows. Near-term momentum will likely be dictated by the sustainability of the geopolitical de-escalation and upcoming corporate earnings results."
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