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Below Quote Daily Market Analysis 20 March 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets started the week on a volatile note and lost over half a percent, in continuation to the prevailing trend.  After the initial downtick, the Nifty index traded under pressure and slipped below Friday’s low; however, rebound in the select heavyweights trimmed the losses in the latter half. Eventually, it settled at the 16,988.40 level; down by 0.65%.  Most of the sectoral indices traded in line with the benchmark wherein metal, realty and IT were among the top losers. Meanwhile, the broader indices underperformed and shed nearly a percent each.

Mixed global cues are keeping the participants on the edge and it might continue in near future, in absence of any major domestic event. Amid all, we are expecting some respite in the Nifty index however the view would negate if it fails to hold 16,800 levels. Meanwhile, the focus should be more on risk management.    

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