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Daily Market Analysis : The majority of sectors aligned with the benchmark move and ended lower Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 09 June 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets edged lower and lost nearly half a percent, in continuation to the previous session’s fall. After the flat start, the Nifty gradually inched lower as the day progressed and finally settled around the day’s low at 18,563.40 levels. The majority of sectors aligned with the benchmark move and ended lower wherein IT, FMCG and auto were among the top losers. The broader indices too witnessed profit taking and settled marginally in the red.
Indications are pointing towards a further slide in the Nifty index however downside also seems capped citing support at 18,400 levels. We recommend focusing more on position management during the corrective phase and preferring sectors/stocks that are showing relatively higher strength.
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