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

Markets edged higher, gaining nearly half a percent, continuing Wednesday’s rebound. After an initial uptick, the Nifty oscillated within a range and finally settled at 22,821.40 levels. Most sectors moved in sync with this trend, with realty, IT, and oil & gas among the top gainers. The broader indices outperformed the benchmark, gaining between 2%-3%.

It appears that markets have adjusted to the recent election results, and stability on the global front is further boosting positivity. While a breather in the index might occur after the recent rebound, the overall tone is likely to remain positive. With all key sectors participating in the move, we suggest maintaining a “buy on dips” approach, focusing on quality names during pullbacks.

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