IGI Logo

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

Markets remained volatile on the monthly expiry day and closed marginally lower, in continuation of the prevailing corrective phase.  After the flat start, the Nifty index oscillated in a narrow range and finally settled at 17,511.25 levels; down by 0.25%. Mostly sectoral packs traded in sync with the benchmark and ended lower wherein energy, realty and consumption were among the top losers. Meanwhile, the broader indices showed resilience and ended almost unchanged.

Though we may see some respite after the recent fall, the tone is likely to remain negative citing subdued cues. Apart from banking and financials, other sectors are also facing the heat now. Considering the scenario, participants should continue with the “sell on rise” approach until we see some signs of reversal.

Above views are of the author and not of the website kindly read disclaimer