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Below Quote Daily Market Analysis 17 July 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets started the week on a firm note and gained nearly a percent, in continuation to Friday’s surge.  After a flat start, the Nifty gradually inched higher as the day progressed and settled around the day’s high to close at 19,721.15 levels.  The majority of the sectors traded participated in the move wherein banking, financials, pharma and energy majors were top contributors. And, the broader indices too moved in tandem and gained in the range of 0.35%-0.85%.

The sharp surge in the banking index after a pause in the IT pack reaffirms our bullish view and we are eyeing Nifty to gradually inch towards a new milestone i.e. 20000 mark. Traders should maintain their focus on stock selection based on the sectoral trend and look for buying opportunities on dips. 

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