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Daily Market Analysis : The pressure was board-based but a sharp decline in the IT majors was largely weighing on the sentiment Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 09 December 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets drifted lower and lost over half a percent amid mixed cues. After the flat start, the Nifty index gradually inched lower for most of the session however marginal rebound in the last hour trimmed some losses. It finally settled at 18,496.60 levels; down by 0.61%. The pressure was board-based but a sharp decline in the IT majors was largely weighing on the sentiment.
Indications are in the favour of prevailing consolidation to continue and sustainability above 18300 in Nifty is critical to maintain the positive tone. Among sectors, banking and FMCG look promising while others may contribute selectively. Traders should plan their positions accordingly.
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