Daily Market Analysis 25 August 2022 By Mr. Ajit Mishra, Religare Broking
Below is the Daily Market Analysis 25 August 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets traded volatile and lost nearly half a percent on the monthly F&O expiry day. Initially, the benchmark opened with an uptick and traded range bound for most of the session however a sharp decline in the final hours completely changed the tone. Consequently, the Nifty index settled closer to the day’s low to close at 17,522.45 levels. Most sectoral indices traded in tandem with the benchmark and ended lower. The broader indices managed to withstand the last hour decline and ended marginally higher to flat.
The recent move in the index indicates consolidation after the phenomenal gains and we expect the trend to continue. Meanwhile, volatility would keep the participants on their toes. In absence of any major domestic event, the performance of global indices will remain on the radar for cues. We thus recommend focusing more on position management and preferring stocks from the defensive basket.
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