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

Markets remained range-bound for another session, closing nearly unchanged as the recent rebound paused. After a flat opening, the Nifty index drifted lower during the first half of the session, but a swift recovery in select heavyweights erased the losses, ultimately closing at 24,610.05. 

Sectorally, performance was mixed, with realty and IT leading the gains, while energy and pharma lagged. Amidst this, the broader indices managed to end marginally in the green, reflecting underlying resilience. 

Despite the consolidation, the continued buoyancy in midcap and smallcap stocks is encouraging. Additionally, rotational participation across most sectors is sustaining the positive sentiment during this phase. Traders should maintain a stock-specific approach, focusing on long positions unless Nifty decisively breaks below the 24,300 level.

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