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Below are Views On Markets started the week on a robust note and gained nearly two and a half percent By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets started the week on a robust note and gained nearly two and a half percent. The benchmark opened gap-up led by supportive global cues and continue to inch higher as the day progressed, thanks to healthy buying in sectors such as IT, FMCG, metals and healthcare. Consequently, the Nifty ended near day’s high at 14,845 levels, up by 2.3%. The broader markets too ended in positive with gains in the range of 1-1.3%.

It’s surprising the way the benchmark is showing resilience amid mixed cues. Going ahead, upcoming data viz. Core Sector and auto sales along with global cues will remain on the participants’ radar. Needless to say, the recent deterioration of the COVID situation in India has dented sentiment and will be closely watched by the participants in the coming sessions too. We thus reiterate our cautious stance until we see some decisiveness in the trend.

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