Daily Market Analysis 30 December 2021 By Ajit Mishra, Religare Broking
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Below is the Daily Market Analysis 30 December 2021 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
On a monthly expiry day, the markets had a rollercoaster ride. The start was weak amid a muted show of global peers due to concerns with regards to the rise in Omicron cases. As the day progressed the benchmark made several attempts to inch upwards but failed to sustain on the higher side. Further, selling pressure in sectors such as metals, PSU banks and Oil & Gas impacted sentiments. Finally the Nifty ended on a flat note at 17204 levels. The broader markets witnessed mixed trend wherein midcap ended lower by 0.4% while small-cap ended in the green, up by 0.2%.
Volatility and choppiness is likely to remain high in the coming session, so we maintain a cautious stance on the markets. Revival in the banking pack will be crucial for the markets. Meanwhile, global cues and upcoming domestic Auto sales numbers will be on radar. Besides, updates with regards to rise in Omicron cases in domestic as well as global markets will be key monitorable. Traders are expected to keep low leverage and hedged position.
Above views are of the author and not of the website kindly read disclaimer
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