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Below is the Daily Market Analysis 02 March 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded volatile and lost over a percent amid feeble global cues. The news of war intensifying between Russia-Ukraine led to a weak start, which further deteriorated citing a sharp surge in crude oil prices. However, a rebound in the last hour of the trade trimmed some losses. Consequently, the Nifty index settled around 16,605.95; down by 1.12%. Most sectoral indices ended lower in line with the benchmark while the broader indices traded mixed.

Markets have been gradually inching lower amid erratic intraday swings but the dent is more severe on the broader front. We feel the volatility is here to stay and the scheduled weekly expiry would further add to choppiness on Thursday. Among the sectors, metal and energy pack look firm while others are witnessing mixed trends. Participants have no option but to align their positions according to the trend and prefer a hedged approach.

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