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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra SVP, Research, Religare Broking Ltd

Markets edged higher for the third successive session and posted modest gains, tracking favorable global cues.  After the initial uptick, Nifty oscillated in a narrow range till the end and finally settled at 22,368 level. Meanwhile, a majority of sectors were aligned on the positive side wherein realty, FMCG and auto were among the top gainers. The broader indices outshined the benchmark and gained over a percent each.

We may see a pause in the index after the recent surge but the tone is likely to remain positive citing a sharp dip in the volatility index i.e. India VIX. Meanwhile, traders should continue with stock-specific approach and utilize corrections to accumulate quality names. 

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