Daily Market Analysis 29 November 2021 By Ajit Mishra, Religare Broking
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Below is the Daily Market Analysis 29 November 2021 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets ended almost unchanged amid volatility, taking a breather after the recent fall. After the weak start, the benchmark gradually recovered as the day progressed, thanks to the rebound in index majors from across the board. However, the profit taking at higher levels capped the upside till the end. Amid all, the broader markets underperformed wherein midcap and small cap ended lower by 1.4% and 2.7% respectively. Amongst the sectors, realty, oil & gas and pharma were the top losers while the IT index gained nearly a percent.
We expect choppiness to remain high citing the prevailing uncertainty around the new COVID variant. Besides, on the domestic front, macroeconomic data like GDP numbers, core sector data and auto sales figures will further add to the volatility. We reiterate our cautious stance and suggest preferring hedged positions.
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