Daily Market Analysis : Nifty tried hard to inch higher however a sharp cut in the final hour Says Mr. Ajit Mishra, Religare Brokingtttt
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Below Quote Daily Market Analysis 27 March 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets traded volatile in a narrow range and ended marginally in the green amid mixed cues. After the flat start, Nifty tried hard to inch higher however a sharp cut in the final hour trimmed the gains and it finally settled at 16985.70 levels. Most of the sectoral indices, barring defensive viz. FMCG and pharma, continue to reel under pressure wherein realty, energy and auto were among the top losers. Meanwhile, the broader indices underperformed and shed in the range of 0.5%-2%.
Amid uncertain global environment, participants are not reacting positively to any intermediate uptick in world indices and now a fresh decline in the broader markets further adding to their worries. We thus recommend maintaining a check on leveraged positions and let the market stabilize.
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