Daily Market Analysis 11 January 2022 By Ajit Mishra, Religare Broking
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Below is the Daily Market Analysis 11 January 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets ended marginally higher in a volatile session, tracking mixed cues. Initially, weak global cues were weighing on the sentiments however resilience in the IT majors not only capped the downside but also helped the index to inch higher. As the day progressed, index majors from other sectors also contributed to the move. Eventually, the Nifty index ended higher by 0.2% at18,043 levels. Amongst the sectors, Power, IT and Realty ended with gains whereas Metal and Telecom ended with losses. Amid all, the broader indices ended flat, taking a breather after the recent surge.
We’re in the fourth week of rebound and now all eyes are on the earnings of three IT majors i.e. Infosys, TCS and Wipro for cues. We reiterate our positive yet cautious view on markets and suggest focusing more on sector/stock selection.
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