IGI Logo

Below is the Daily Market Analysis 10 May  2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets remained volatile and ended with a cut of nearly half a percent. After the initial downtick, the benchmark hovered in a narrow range for most of the session however selling pressure in the final hour pushed the markets lower. A mixed trend was witnessed amongst the sectoral indices wherein metal, energy and realty were the top losers. The broader markets, midcap and smallcap, continued to underperform which ended lower in the range of 1.3-1.7%. 

We reiterate our bearish stance on the markets, in absence of any positive trigger. Participants shouldn’t read much into a single-day rebound and wait for some decisive reversal signal. Besides, stability on the global front is equally critical for any sustained move. Meanwhile, since most of the sectors are trading under pressure, the focus should be on stock selection and using intermediate rebound to create shorts.

Above views are of the author and not of the website kindly read disclaimer