Daily Market Analysis : Markets edged higher as expected, gaining over half a percent 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.
Markets edged higher as expected, gaining over half a percent. After a flat start, the Nifty gradually climbed throughout the session and closed near the day's high at 23,868.80 level. Sectoral trends were mixed, with energy, FMCG, and banking contributing to gains, while metal, auto, and realty sectors faced pressure. The broader indices remained range-bound and closed nearly unchanged.
Selective heavyweights have been driving the index gains, with Reliance making a significant impact today. We anticipate some volatility on Thursday due to the scheduled monthly expiry of June derivatives contracts. Despite this, we reiterate our recommendation to continue with a “buy on dips” strategy, focusing on specific sectors and themes for stock selection.
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