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Below is the Daily Market Analysis 24 December 2021 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets traded volatile and ended with a cut of nearly half a percent, taking a breather after the recent up move.  Favourable global cues led to a firm start but profit taking at the higher levels trimmed all the gains in no time and pushed the benchmark lower. Though buying in IT and FMCG trimmed losses in the middle, the pressure in the IT pack capped the upside. Finally, the Nifty ended lower by 0.4% to close at 17,003 levels. The broader markets too ended with losses in the range of 0.5-1%.

Markets are closely eyeing the COVID situation and any positive news could only help the index to make any sustainable up move else volatility will continue. Interestingly, we’re seeing a mixed trend across sectors so traders should focus on IT, select FMCG, pharma for long trades while the banking pack may continue to trade subdued.

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