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Below Quote Daily Market Analysis 23 June 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets remained volatile for yet another session and lost over half a percent amid mixed cues.  After the initial downtick, the Nifty oscillated in a narrow band and finally settled around the day’s low to close at 18,665.50 levels.  The decline was widespread wherein metal, energy and auto were among the top losers. In line with the move, the broader indices too witnessed a dip and shed over a percent each.

Weak global cues are largely weighing on the sentiment and prompting profit taking across markets including ours. A decisive close below 18,600 in Nifty and 43,400 in the banking index may change the tone and trigger further slide.Participants should plan their trades accordingly. 

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