Daily Market Analysis : Markets ended slightly higher in a lackluster session, pausing after the recent rally 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 ended slightly higher in a lackluster session, pausing after the recent rally. Following an initial uptick, the Nifty traded within a narrow range and closed at 24,811. Sectors like metals, FMCG, and banking supported the positive sentiment, while energy and IT remained subdued. The broader indices continued to provide support, with notable traction in the midcap segment.
Markets are closely monitoring global indices for direction, and the recent pause in US markets ahead of the Jackson Hole Symposium is leading to some caution locally also. Technically, there are signs of consolidation in the Nifty after it failed to break the resistance at 24,850 level. Despite this, we maintain a bullish outlook on the markets and recommend focusing on selective stock picking.
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