Daily Market Analysis : Markets lose over a percent, resume corrective trend after two-day gain Says Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
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Below the Quote On Market Analysis by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
The markets traded under pressure, losing over a percent, as they resumed their corrective trend after two days of gains. Despite a strong overnight performance in U.S. markets following Donald Trump's presidential win, Nifty maintained a bearish tone, dipping early and holding that sentiment throughout the session. All major sectors aligned with the benchmark, with metals, pharma, and energy stocks leading the decline. Broader indices struggled to hold higher levels, ending down by nearly half a percent.
With the focus now on the U.S. Fed post-election, markets are expected to react to the outcome of the FOMC meeting and the Fed Chair’s commentary in early trades. On the index front, Nifty was unable to breach the 24,500 resistance once again, suggesting that consolidation may continue, with key support at 24,000. Traders are advised to maintain a stock-specific approach and consider hedged positions.
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