Daily Market Analysis :Markets experienced volatility and ended nearly unchanged, pausing after the recent surge Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote On Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Markets experienced volatility and ended nearly unchanged, pausing after the recent surge. The tone was positive in the first half, but profit-taking in heavyweights in the latter half erased all the gains. Sectorally, the trend was mixed: realty and banking sectors edged higher, while energy and metal sectors came under pressure. Amid the choppiness, the broader indices regained strength, gaining between 0.6%-0.8%.
The presence of resistance around the 23,100 level in the Nifty, along with a rise in the volatility index, India VIX, limited the upside. We may see further consolidation in the index ahead, so participants should focus on careful stock selection and effective trade management.
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