Daily Market Analysis : Markets witnessed profit taking on Friday and shed over half a percent, tracking feeble global cues Says Mr. Ajit Mishra, Religare Broking
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Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Markets witnessed profit taking on Friday and shed over half a percent, tracking feeble global cues. After the flat start, the Nifty gradually inched lower as the day progressed and finally settled around the day’s low at 22,419.95 (-0.7%). Meanwhile, a mixed trend was witnessed on the sectoral front wherein pharma, realty and IT posted decent gains while financials and banking ended in the red. The broader indices outshined the benchmark and gained in the range of 0.6%-0.8%.
The intermediate volatility is normal during the earnings season and mixed global cues are further adding to the choppiness. We suggest continuing with stock-specific trading approach and utilizing dips to add quality names.
Above views are of the author and not of the website kindly read disclaimer
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