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Below is the Daily Market Analysis 28 December 2021 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets extended Monday’s up move and gained nearly a percent, tracking firm global cues.  The benchmark opened with an uptick and gradually inched higher as the day progressed. It was buying in the index heavyweights across sectors which kept the tone positive and aided the index to settle around the day’s high. Meanwhile, the market breadth was also inclined strongly on the advancing side.

Markets are taking cues from their global counterparts and seeing a rebound amid the news of rising COVID cases domestically and restrictions announced by a few states. While all the sectors are contributing to the move, the underperformance of the banking pack is still hurting the sentiment. We recommend focusing on the sectors which are trading in sync with the benchmark while keeping a check on leveraged positions. The upcoming monthly expiry of December month derivatives contracts would further add to the volatility.  

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