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Below Quote Daily Market Analysis 15 February 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets edged higher for the second consecutive session and gained nearly half a percent amid mixed cues. Weakness in the global markets was weighing on the sentiment in early trades but resilience in the select heavyweights pushed the index gradually higher. Consequently, Nifty reclaimed the 18,000 mark, after struggling for three weeks. On the sectoral front, IT, auto and realty posted decent gains while defensive viz. pharma and FMCG traded subdued.

We reiterate our positive view on the market however intermediate consolidation/profit taking on the global front and restricted participation within the index heavyweights could keep the momentum in check. We thus recommend staying selective and preferring exposure to the counters which are leading from the front.

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