Daily Market Analysis : Markets moved higher in a volatile session, ending with nearly half a percent gain amid mixed signals Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Ajit Mishra, – SVP, Research, Religare Broking Ltd.
Markets moved higher in a volatile session, ending with nearly half a percent gain amid mixed signals. The Nifty started on a negative note, but resilience in select heavyweights, particularly in the banking sector, spurred a steady rebound as the session advanced. By the close, it settled near the day's high at 24,466.85, up 0.5%. In addition to banking, the realty and metal sectors also saw gains, while auto and pharma remained under pressure. Broader indices extended gains for the second consecutive session, each adding nearly a percent.
The buoyancy in certain heavyweights is supporting this recovery; however, resistance at the 24,500 level on the Nifty remains a challenge. Beyond tracking FII flows, we recommend closely observing the performance of major banking and IT stocks for further guidance. Meanwhile, traders should maintain a stock-specific approach with a strong focus on risk management.
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