The Nifty Pharma index closed 1.22 per cent up at 12699.4.

In the Nifty pack, 50 stocks closed in the green, while 0 stocks ended in the red.

FLFL has in-house retail chains Central and Brand Factory, exclusive brand outlets (EBOs) and other multi-brand outlets (nearly a dozen apparel labels, including Lee Copper, Champion, aLL, Indigo Nation, Giovani, John Miller, Scullers, Converse and Urbana) in its portfolio.

“We had a spectacular run in the auto space and there is a lot of steam still left the way we look at the numbers coming, the monthly numbers as well as the quarterly numbers of most of the auto companies were quite strong.”

“For Reliance, I would believe that the stock has this tendency of going into a time-wise, price-wise correction - Consolidation with no major upswings.”

The formation of such a candle with a long lower shadow near a pattern resistance increases the possibility of the up move getting stalled for some more time and the markets staying under consolidation a bit longer.

“The Nifty Bank reached the overbought zone earlier than Nifty50 during the fall April to June 2022. The overbought situation caused buying in the banking and financial services sector. Hence, we witnessed Nifty Bank becoming stronger than Nifty50.”

Powell's speech sent US stock sinking on Friday as the benchmark indices plunged 3-4 per cent each on Friday. Dalal Street participants anticipate a similar knee-jerk reaction on Monday.