Daily Market Analysis : Market sentiment was cautious, influenced by a global wait-and-see approach ahead of the US Fed Chair`s speech at Jackson Hole Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
It was a quiet trading session for the Nifty, which remained in a narrow range and ended the day almost flat. Market sentiment was cautious, influenced by a global wait-and-see approach ahead of the US Fed Chair's speech at Jackson Hole. Sector-wise, there was a mixed performance; the auto sector saw decent gains, while the realty and IT sectors lagged. Broader indices also stayed range-bound, finishing slightly lower.
On Monday, markets will likely react to global cues following the US Fed speech. We recommend maintaining a positive outlook unless the Nifty decisively breaks below 24,500. We continue to believe that the banking sector holds the key to the next directional move, as other sectors are engaged in a balancing act. In the meantime, traders should avoid taking aggressive positions and stay stock-specific.
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