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
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.
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