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Below are Views On Market Analysis by Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets witnessed a breather after the sharp decline in the previous session and managed to close with gains of nearly one and a half percent. The benchmark indices opened marginally in the green and traded volatile in the first half amid profit-taking in the IT majors post TCS results. However, recovery in the auto, banking and select metal majors in the latter half helped the index to close around the day’s high. Sentiment boosted on the news of fast-tracked emergency approvals for foreign-produced Covid-19 vaccines. Consequently, Nifty ended with gains of 1.4% at 14,505 levels. The broader markets too ended with gains in the range of 1.2-1.5%.  

We expect volatility to continue until there is clarity over the lockdown situation and availability of vaccines. The earnings season would further add to the choppiness ahead so we suggest investors maintaining stock-specific trading approach. Meanwhile, global cues, metals and crude oil prices would also be on investors’ radar.

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