Daily Market Analysis : Markets started the week on a muted note and ended unchanged, taking a breather after the recent slide Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 25 September 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets started the week on a muted note and ended unchanged, taking a breather after the recent slide. On the benchmark front, Nifty oscillated in a range and finally settled at 19674.55 levels. Meanwhile, mixed trends on the sectoral front kept the traders occupied wherein realty and financials edged higher while IT and pharma ended in the red. The broader indices too traded mixed wherein midcap posted decent gains while smallcap closed flat.
It is a normal pause and we may see some rebound too due to oversold positions. However, the upside seems capped citing a strong hurdle around the 19800-19900 zone. Besides, weak global cues would continue to weigh on the sentiment. We thus reiterate our view to stay stock-specific and focus more on risk management.
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