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Below Quote Daily Market Analysis 30 November 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets managed to inch higher and gained nearly a percent, in continuation of the prevailing trend. After the initial uptick, the Nifty index oscillated in a narrow band for most of the session however a sharp surge in the index majors in the last half an hour helped the index to surpass the hurdle at 18,700 and close around the day’s high at 18,758.35 levels. Meanwhile, a mixed trend on the sectoral front kept the participants busy wherein metal, realty, and auto traded upbeat while banking and IT consolidated further. The broader indices too participated in the move and gained in the range of 0.7-1.3%.

The rotational buying across sectors is fuelling the recent surge while the global markets are not offering any clear signal. We’re now eyeing a new milestone of the 19,000 mark in Nifty. Participants should keep a close watch on themes/sectors which are gaining traction and place their bets accordingly.

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