The analysis of Relative Rotation Graphs (RRG) shows that Nifty Bank, PSU Bank, and Metal Indexes are inside the leading quadrant; they are likely to relatively outperform the broader markets. The Nifty MIDCAP index is also inside the leading quadrant but it is seen sharply losing its relative momentum and heading toward the weakening quadrant.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.