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Below Quote Daily Market Analysis 31st August 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded volatile on the monthly expiry day and lost nearly half a percent, in continuation to Wednesday’s fall.  Meanwhile, mixed moves continued on the sectoral front wherein realty and IT edged higher while energy and FMCG witnessed pressure. On the broader front too, we witnessed a similar tone as the smallcap gained nearly half a percent while the midcap settled on a flat note.

We are seeing a gradual fall in the index amid mixed global cues however buoyancy on the broader front combined with selective buying across sectors is compensating in the interim. Participants should continue with the stock-specific approach until we see a decisive sign of reversal in the index. Besides, keep a close watch on the global front for further cues.

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