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Below Quote Daily Market Analysis 08 August 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Market extended up move for yet another session and gained nearly half a percent. After the flat start, Nifty inched gradually higher however profit taking in the final hour trimmed the gains. Consequently, it settled at 19819.95; up by 0.47%.  Most sectors contributed to the move wherein realty, financials and energy were among the top performers. Besides, the continued buying in midcap and smallcap further added to the buoyancy.

Markets may take a breather after the recent surge but the tone is likely to remain positive. In case of any dip, we expect Nifty to respect 19650 now. Since all sectors are now participating in the move, we recommend focusing on stocks, which are showing relatively higher strength within the sector.

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