Daily Market Analysis : Markets extended rebound and gained over half a percent, Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 06 March 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets extended rebound and gained over half a percent, tracking favorable global cues. After the gap-up start, the Nifty index inched higher initially however profit taking in index majors across sectors trimmed the gains as the day progressed. Consequently, it settled around the 17,711.45 level; up by 0.67%. Meanwhile, a mixed trend on the sectoral trend kept the participants busy wherein energy, IT and auto performed well. The broader indices too witnessed decent traction and gained in the range of 0.8%-1.2%.
Buoyancy on the global front is helping the index to stage recovery however multiple hurdles are capping the upside on every uptick. We thus reiterate our view to continue with a stock-specific trading approach and prefer sectors that are showing resilience.
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