Market Quote : Markets traded robust for yet another session and gained over a percent Says Mr. Ajit Mishra, Religare Broking Ltd
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Quote on Market 29 July 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets traded robust for yet another session and gained over a percent. Favorable global cues triggered a gap start however some profit taking at the higher levels capped the upside. Amid all, the Nifty managed to close around the day’s high to close at 17,158; up by 1.35%. All the sectoral indices ended higher wherein Metals, IT and Power were the top gainers. The broader indices, Midcap and Smallcap, ended higher by 1.4% and 1.7% respectively.
With major events behind us, the focus would be on earnings and upcoming high-frequency data like auto sales, PMI numbers and GST collection figures for cues. We reiterate our positive view and suggest continuing with the “buy on dips” approach.
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