Daily Market Analysis : Markets witnessed volatility but managed to close in positive territory, taking a breather after Monday`s decline Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Markets witnessed volatility but managed to close in positive territory, taking a breather after Monday’s decline. Despite weak global cues, the benchmark displayed resilience, inching higher for most of the session. However, a sharp dip in the final half-hour erased a significant portion of the gains. Ultimately, the Nifty index settled at 22,957.25, up 0.56%.
On the sectoral front, rate-sensitive sectors like realty, banking, and auto outperformed, driven by the RBI’s announcement of measures to enhance liquidity. Conversely, pharma and energy sectors faced selling pressure. Broader markets continued to underperform, with the midcap index losing nearly half a percent and the small-cap index declining by about two percent.
Markets have repeatedly struggled to sustain recovery attempts, and this session was no exception. Ongoing caution ahead of the Union Budget, a mixed earnings season, and weak global cues are further unsettling participants. We maintain our “sell on rise” stance for the index and emphasize the importance of robust risk management, particularly in broader market segments like midcaps and small caps, while awaiting clearer signals.
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