Daily Market Analysis : Markets remained volatile on the monthly expiry day and ended nearly flat, continuing the current consolidation trend Says Mr Ajit Mishra, Religare Broking Ltd
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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Markets remained volatile on the monthly expiry day and ended nearly flat, continuing the current consolidation trend. Weak global cues and pressure on major banking stocks led to a gap-down start, but recovery in select heavyweights minimized losses. Ultimately, Nifty closed at 24,406.10. Sector-wise, energy, auto, and pharma performed well despite the choppiness, while metal and banking sectors ended lower. The broader indices remained almost unchanged.
Markets are showing significant resilience during this consolidation phase, so we continue to recommend looking for buying opportunities on dips as long as Nifty holds above the 24,200 level. Given the mixed trends across sectors, it is crucial to focus on stock selection. In addition to earnings reports, the performance of global indices, especially in the US, will be closely watched for further cues.
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