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Below is the Daily Market Analysis 28 January 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets ended almost unchanged in a volatile trading session citing mixed indications. Initially, the benchmark was trading firm however profit taking in the latter half pare all the gains. Meanwhile, the broader markets witnessed healthy buying interest and both midcap and smallcap ended higher by over a percent each. A mixed trend was witnessed on the sectoral front wherein auto and banking ended with losses while IT, telecom, oil & gas closed in the green.

All eyes are on the Union Budget now which is scheduled next week on February 1. We expect a growth-friendly budget but also expect the government to lay out a path for fiscal consolidation. Besides, earnings and global cues would remain on participants’ radar. We reiterate our cautious view and suggest continuing with hedged positions.

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