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Below is the Daily Market Analysis 20 May  2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets rebounded sharply and gained nearly 3%, in continuation of the prevailing volatile trend. The benchmark witnessed a gap-up opening, taking cues from the Asian counterparts and gradually inched higher as the session progressed. Consequently, the Nifty settled around the day’s high, to close at 16,270 levels. All the sectoral indices ended in the green with metal, pharma and realty being the top gainers. The broader indices, midcap and smallcap, also ended higher in the range of 2-2.4%.

Markets have been seeing a roller-coaster ride and the key is to manage the overnight risk. Going ahead, global cues, the last leg of earnings and updates on the Russia-Ukraine war will be on the radar. We reiterate our advice to focus more on managing risk and preferring hedged bets.

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