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Below is the Daily Market Analysis 16 February 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded volatile for yet another session and ended marginally lower. After the initial fall, the benchmark tried to inch higher however profit taking in the final hours pared all the gains and pushed the index closer to the day’s low. Finally, the Nifty index ended the session down by 0.2% to settle at 17,322 levels. Amongst the sectors, most ended in the red with PSU bank, metals and media being the top losers. The broader indices ended mixed wherein midcap traded under pressure while smallcap ended higher by 0.9%.

Markets are currently dancing to the global tunes and we don’t see this changing anytime soon. The US Fed meeting minutes and lingering tension over the Russia-Ukraine crisis will remain on the radar. Besides, the scheduled weekly expiry would further add to the choppiness. We reiterate our cautious stance and suggest waiting for further clarity.

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