Nifty has failed to cross the previous day's high for 12 straight trading sessions, the longest such streak on record. This creates an unusual setup for the market as investors weigh strong Q1 earnings against crude oil and global risks.
The streak began after Sebi introduced the Closing Auction Session, or CAS, in the market. According to Apurva Sheth, Head of Market Perspectives and Research at SAMCO Securities, the previous longest streak in Nifty's history was 9 consecutive sessions, making the current 12-session run unprecedented.