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

Markets traded subdued and ended slightly lower, taking a break after a busy week. On the benchmark front, Nifty opened with a slight increase and fluctuated within a narrow range before closing at 23,259.20. Meanwhile, a mixed trend among sectors kept traders engaged, with realty and pharma emerging as top gainers, while IT and metal ended in the red. Notably, the small-cap index reached a new high, contributing to a strong market breadth on the advancing side.
 

We feel it is healthy if Nifty spends some time around the current levels, after experiencing extreme swings last week. Meanwhile, as all the sectors are contributing to the move on a rotational basis, the focus should remain on stock selection and utlise consolidation to accumulate quality names.

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