Daily Market Analysis : Markets oscillated in a narrow range and ended marginally in the green amid mixed cues Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 10 July 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets oscillated in a narrow range and ended marginally in the green amid mixed cues. The tone was positive in the early hours, thanks to the strong up move in Reliance however pressure in the other heavyweights capped the upside and trimmed the gains as the session progressed. Consequently, the Nifty index ended closer to the middle of the day’s range at 19355.90 levels. Meanwhile, the sectoral trend was mixed wherein metal and energy showed resilience while IT, realty, and FMCG drifted lower. The broader indices too witnessed a dip and shed nearly half a percent.
Indications are in favor of further consolidation in the index and the recent dip in the US markets is also weighing on the sentiment. It is thus advisable to limit leveraged positions and wait for the resumption of the trend.
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