Daily Market Analysis : Markets kicked off the week on a positive note, gaining over half a percent, driven by a dovish stance from the US Fed 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 kicked off the week on a positive note, gaining over half a percent, driven by a dovish stance from the US Fed. Mirroring other global markets, the Nifty opened strong and moved closer to its record high in the early hours. However, profit-taking in select heavyweight stocks limited further gains as the day went on. Eventually, the Nifty closed at 25,010.60, up 0.8%. All major sectors contributed to the rally, with metals, realty, and IT emerging as the top performers. The broader indices also moved higher, posting gains between 0.3% and 0.7%.
We maintain our optimistic outlook given the favorable global cues and recommend a “buy on dips” strategy. While there has been some selective participation from the banking sector, a lack of decisiveness among major private banks is restraining the momentum. Traders should adjust their positions accordingly, with focus on stock selection.
Above views are of the author and not of the website kindly read disclaimer
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