IGI Logo

Below is the Daily Market Analysis 25 October 2021 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets settled almost flat in a volatile trading session, taking a breather after the recent fall. After the initial uptick, the benchmark failed to hold the gains and started drifting lower as the session progressed. However, a sharp surge in the select banking majors, thanks to encouraging earnings by the ICICI Bank, not only capped the downside but also helped the index to pare the losses. Consequently, the Nifty closed at 18,125 levels. Selling pressure continued on the broader front wherein midcap and smallcap indices lost in the range of 1.8%-2.3%.

We expect the banking pack to remain in focus as Axis Bank and Kotak Bank will report their numbers on October 26. On the index front, Nifty should hold 17,950 levels for any rebound else profit taking would resume. Needless to say, the scheduled monthly expiry will keep the choppiness high across the board. Amid all, participants should continue with a cautious approach until we see some concrete sign of trend resumption.

Above views are of the author and not of the website kindly read disclaimer