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Below Quote Daily Market Analysis 07 December 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded lackluster for yet another session and lost over half a percent. After the initial uptick, the Nifty index inched lower and oscillated in a narrow band till the end and finally settled at 18,560.50 levels.  A mixed trend across sectors kept the traders busy wherein buying in the FMCG majors capped the downside. The broader indices traded in sync with the benchmark and lost nearly half a percent each.

Markets have been gradually drifting lower however rotational buying in index majors across sectors is capping the damage. Feeble global cues might continue to put pressure but we expect Nifty to hold the 18,300-18,400 zone. In the current scenario, traders should focus on trade management and prefer sectors that are showing resilience for fresh buying. 

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