A morning walk down Dalal Street | Nifty unlikely to cross 11,000, may retest stiff resistance of 10,900

Indian market snapped its 8-day losing streak and closed with handsome gains led by large-cap names.

The S&P BSE Sensex rallied over 400 points while Nifty50 reclaimed 10700 levels. The Nifty index posted its best daily gain since Jan 31, 2019, when the index rose by 1.68 percent. 

The advance-decline ratio was on the whole balanced and therefore the current bounce should be taken with a pinch of salt, suggest experts as the pain may not be over yet.

The market rallied in expectation of dovish minutes from the US Fed and resumption of dialogue between the US and China adding positive vibes for the global market. 

Strong inflows from DIIs, appreciation of rupee and value buying in mid & small caps helped the domestic market, experts said.