Daily Market Analysis : Markets closed slightly lower on the weekly expiry day, shedding nearly half a percent amid mixed signals Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Markets closed slightly lower on the weekly expiry day, shedding nearly half a percent amid mixed signals. After an initial uptick, the Nifty gradually declined throughout the session, ending near the day’s low at 24,548.70 level. Sectorally, most indices saw profit booking, with FMCG and energy being the top losers, though resilience in the IT sector helped limit the losses. Broader indices, which had recently outperformed, also faced profit-taking, declining by 0.5%-1%.
The market awaits a fresh catalyst to resume its rebound, while rotational buying in key sectors like IT and banking keeps recovery hopes alive. Participants should maintain a positive outlook but manage position sizes until Nifty clears the resistance at 24,800. Additionally, given the broader indices’ recent outperformance, traders might consider booking partial profits in the midcap and smallcap segments.
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