Daily Market Analysis 29 December 2021 By Ajit Mishra, Religare Broking
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Below is the Daily Market Analysis 29 December 2021 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets took a breather after the recent rebound and ended marginally lower in a lacklustre session. After the initial uptick, the benchmark drifted gradually lower and traded range bound thereafter. However, movement on the broader market front kept the traders busy till the end. The broader indices outperformed the benchmark and gained in the range of 0.3%-0.7%. Among the sectors, healthcare, auto and telecom ended with gains whereas metal and power ended with losses.
The scheduled monthly expiry of December month derivatives contracts would keep the volatility high. The banking pack is still struggling and its performance would be critical for the next directional move. In absence of any event, updates on the COVID cases would remain on the participants’ radar. Keeping in mind the scenario, we suggest continuing with a stock-specific trading approach.
Above views are of the author and not of the website kindly read disclaimer
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