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Below is the Daily Market Analysis 18th October 2021 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Market started the week on a buoyant note and gained nearly a percent, tracking supportive global cues. After the gap up start, the benchmark hovered in a range till the end however movement on the stock-specific front kept the participants busy till the end. Finally, the Nifty index ended with gains of 0.8% to close at 18,472 levels. The broader markets too performed largely in line with the benchmark wherein midcap and smallcap ended higher by 1.2% and 0.6% respectively. Amongst the sectoral indices, except all the indices, barring healthcare and telecom, ended in green wherein metal, IT and power were the top gainers.

In absence of any major event, earnings will remain in focus and we have a long list of index majors announcing their results this week. And, participants will be closely eyeing the management commentaries for the future growth outlook. Apart from this, global cues would also be on investors' radar. We reiterate our bullish view on the market and suggest using intermediate dips to add quality stocks.

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