Sensex, Nifty muted a day after sharp rally, IT stocks extend gains. What lies ahead for Dalal Street?

The Indian stock market, as measured by the Sensex and Nifty, remained relatively stable after a significant increase in the previous session. This stability is notable, given that IT stocks continued to perform well, while pharmaceutical shares experienced a decline. Elevated US bond yields and rising crude oil prices pose challenges for the market, but short-selling and expectations of tax relief have helped to support investor sentiment. The market's performance will likely be influenced by these factors in the days ahead.

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Indian equities traded nearly flat after a sharp rally in the previous session. Analysts flagged concerns about the market's direction.

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