Daily Market Analysis 27 January 2022 By Ajit Mishra, Religare Broking
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Below is the Daily Market Analysis 27 January 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets traded volatile and lost over a percent, following weak global cues. After the gap down start, the benchmark inched lower in the first half however healthy buying in the banking space pared the losses significantly. However, continued pressure in the IT majors and a few other index majors capped the upside. Consequently, Nifty closed at 17,110; down by 1%. The broader indices performed in line and lost in the range of 0.7%-1.2%.
Excessive volatility on the global front is keeping our markets also on the edge. With the US FOMC meet behind us, we expect some stability now. However, the prevailing earnings season and upcoming Union budget would keep the participants on their toes. The recent buoyancy in the banking space is certainly encouraging but the other sectors should also support for any meaningful recovery. We feel it’s prudent to stay light and let the markets stabilise.
Above views are of the author and not of the website kindly read disclaimer
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