Sensex, Nifty trade lower as pre-Diwali explosive rally cools down. Why analysts are bullish

Synopsis The Indian stock market declined as investors engaged in profit-booking following a strong rally. Major stocks like HCL Tech and Infosys faced declines of approximately 2%. However, SBI shares increased by more than 2%, while the Nifty Pharma sector gained around 2%. Analysts suggest that foreign institutional investors will continue buying, potentially supporting future market rallies. The Indian stock market traded lower on Monday, after snapping a six-day winning streak during the Muhurat Trading session on Sunday, as investors may have resorted to profit-booking after the explosive rally on Dalal Street prior to Diwali. At 9.57 AM, Sensex declined…