Daily Market Analysis : After a flat opening, Nifty traded with a positive bias and saw significant momentum in the final hours Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
On the monthly expiry day, markets edged higher and gained nearly 1%, driven by favorable cues. After a flat opening, Nifty traded with a positive bias and saw significant momentum in the final hours, closing at 26,216.05, up 0.81%. All major sectors contributed to the rally, with auto, metal, and FMCG leading the charge. However, broader indices remained subdued for another session, ending mixed.
Supportive global cues and rotational buying across sectors are driving the index higher each week. Current indicators suggest this upward trend will continue, with Nifty likely to approach the 26,500 mark. While all sectors are participating in the movement, we continue to favor rate-sensitive sectors such as banking, auto, realty, and financials, and recommend selectively picking stocks from the metal and energy sectors as well.
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