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Below Quote Daily Market Analysis 23 December 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets gained nearly half a percent in a volatile trading session, in continuation of the prevailing trend. The Nifty index traded lackluster for most of the session however a sharp surge in the last half an hour pushed the index to the day’s high. It finally settled at 18,403.40; up by 0.4%. Most of the sectoral indices traded in tandem with the benchmark and ended with modest gains however the underperformance continued on the broader front.

Participants are maintaining a cautious stance around the record high which is reflecting in the market move. However, selective buying in the index majors on a rotational basis is helping the index to hold gains and gradually inch higher as well. We thus maintain our view to continue to follow the up trend until Nifty holds 17,800 and look for buying opportunities on dips.

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