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Below Quote Daily Market Analysis 09 August 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded volatile but finally gained nearly half a percent. After the weak start, Nifty inched gradually lower and oscillated in the narrow range in the middle however a sharp recovery in the final hours completely changed the tone. Eventually, it settled closer to the day’s high at 19632 levels; up by 0.32%. Among the sectoral indices, metal, auto and pharma posted decent gains while realty remained under pressure. The broader indices continued to inch higher and gained nearly half a percent each.

Bulls are trying hard to reclaim some strength but it would be tough without the participation from the banking majors. Besides, resilience on the global front, especially in the US, would play a critical role ahead.  Meanwhile, traders should continue with stock-specific trading approach and focus on sectors that are attracting buying interest.  

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