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

"Markets found some relief after the recent downturn, ending the day with nearly half a percent gain. Following a gap-up opening, Nifty edged higher during the initial trades, but pressure on select heavyweights limited the recovery. Eventually, Nifty closed at 23,176, up 0.39%. Sectorally, the performance was mixed. While metal, energy, and financials delivered notable gains, IT and FMCG sectors slipped into the red. Broader indices staged a strong rebound, each climbing around 2.5%. 

The rebound was largely driven by oversold conditions, which often trigger such recoveries. However, participants should view this as an opportunity to trim positions during further recovery, particularly in the midcap and smallcap segments. IT and FMCG, which had shown resilience until now, are beginning to exhibit signs of weakness, while other sectors remain under bearish pressure. We thus recommend adopting a stock-specific approach and prioritizing risk management in the current environment."

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