Daily Market Analysis : Markets began the week on a weak note, influenced by global cues, and declined by over half a percent Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
"Markets began the week on a weak note, influenced by global cues, and declined by over half a percent. After opening with a gap-down, Nifty fluctuated between gains and losses before settling at 23,361.05. Among sectors, IT posted decent gains, while pharma and auto saw marginal upticks. In contrast, energy, metal, and FMCG were the top laggards. The broader indices mirrored the benchmark’s trend, slipping nearly 1%-2%.
Concerns over Trump’s tariff announcements overshadowed the budget's impact, pushing the index toward its 20-week EMA, signaling caution amid consolidation. This phase may continue, with global cues, corporate earnings, and the upcoming MPC meeting playing a key role in market direction. Investors are advised to remain cautious and manage positions on both sides."
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