Daily Market Analysis : Markets remained volatile and ended slightly lower, extending the recent decline in the index Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
"Markets remained volatile and ended slightly lower, extending the recent decline in the index. After a flat start, the index saw sharp swings in both directions during the first half but lacked a clear directional move, reacting largely to the MPC’s review meeting, which delivered a rate cut in line with expectations. Eventually, it settled at 23,566. Among sectors, metals and auto showed strength, while FMCG and energy slipped. Broader indices also traded mixed, closing flat to marginally lower.
With major events now behind us, the focus will shift back to earnings for further cues. On the benchmark front, Nifty held its crucial short-term support at the 20 DEMA, and sustaining this level will be key for a potential rebound towards 23,900. Otherwise, the bias may turn sideways. Meanwhile, traders should maintain a stock-specific approach with a strong emphasis on risk management."
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