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

Markets extended gains for the third consecutive session, rising by 2% in line with the ongoing positive trend. Following a flat start, the Nifty gradually climbed, nearing its record high. Most sectors contributed to the rise, with IT, auto, and energy leading the gains. The broader indices also aligned with this trend, increasing by 1.4% to 2.3%.

Markets have nearly reclaimed their record high and appear poised to maintain this momentum. Rotational buying across key sectors, including IT and FMCG, which had previously been on the sidelines, has bolstered the upward movement. Therefore, we recommend maintaining a "buy on dips" strategy as long as the Nifty holds above the 22,600 level.

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