Published on 12/08/2022 4:50:46 PM | Source: Religare Broking Ltd

Market Quote : Markets consolidated in a narrow range and ended marginally higher Says Mr. Ajit Mishra, Religare Broking Ltd

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Quote on Market  12 August 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets consolidated in a narrow range and ended marginally higher, taking a breather after the recent surge. After the flat start, the tone was positive for most of the session however profit taking in the last two hours trimmed the gains. Consequently, Nifty closed at 17,698; up by 0.2%. The sectoral pack traded mixed Oil & Gas, Metal and Power ended with gains whereas Healthcare and IT were the top losers.

Markets will react to the macroeconomic data viz. IIP and CPI and other global cues in early trade on Tuesday. The recent buoyancy on the global front combined with rotational buying across sectors are pointing towards the prevailing up move to extend further with intermediate pause Participants should align their positions accordingly


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