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It turned out to be a roller coaster ride for participants as the Nifty oscillated sharply on both sides and finally settled marginally lower.  After the gap-down start, it drifted lower however recovery in the heavyweights pared majority of the losses as the day progressed. Meanwhile, mixed trends on the sectoral front kept the participants busy wherein auto and realty posted decent gains while pressure continued in banking and IT. Amid all, the broader indices traded in sync with the benchmark and closed flat.

The recent dip in IT majors combined with the underperformance of the banking pack is currently weighing on the sentiment. And, it is difficult to make any directional move without their participation. We thus reiterate our view to stay focused on stock selection and risk management.

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