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Below Quote Daily Market Analysis 02 March 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets reversed Wednesday’s gain and lost over half a percent, tracking feeble global cues.  The tone was negative from the beginning citing pressure in the IT and banking majors, which further deteriorated with a decline in select index majors like Reliance, Maruti and ITC as the session progressed. Meanwhile, stability on the broader front capped the damage to some extent.

Global factors are largely dictating the trend and we feel a further decline in the US markets may fade away the hopes of sustained recovery. Considering the scenario, it is prudent to stay light and prefer stocks that are showing relatively higher strength. On the index front, the 17100-17200 zone would continue to act as strong support

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