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Below Quote Daily Market Analysis 28 December 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

The benchmark indices traded dull and ended almost flat amid mixed cues.  After the initial downtick, the Nifty spent the entire day in a narrow band however the tone was on the positive side, thanks to buying select index majors. And, it finally settled at 18,122.50 levels. Among the sectoral pack, auto, energy and select PSU banks were in the limelight while defensive viz. pharma and FMCG traded subdued.

Indications are pointing towards a range-bound trend to continue in Nifty and we expect stock-specific moves to keep the participants occupied, thanks to the scheduled expiry of December month derivatives contracts. Besides, the broader indices are also showing some stability so participants can selectively look for buying opportunities. 

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