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Below Quote Daily Market Analysis 14 October 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets witnessed a decent surge on Friday and gained nearly a percent. Strong recovery in the global indices combined with upbeat earnings triggered a gap-up start in Nifty however profit taking in the latter half trimmed the gains. It finally settled at 17,185.7 levels; up by 1.01%. Among the sectors, banking, financials and IT contributed the maximum while realty, energy and auto were on the back foot.

Markets have been consolidating for the last two weeks amid mixed cues and we expect this to end soon. Meanwhile, participants should maintain their focus on sectors and stocks which are showing resilience despite the prevailing uncertainty and utilise this phase to accumulate them.

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