Daily Market Analysis : Most sectors experienced pressure, with realty and energy being the top losers Says Mr. Ajit Mishra, Religare Broking
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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
It was a subdued session as expected, with the Nifty fluctuating within a narrow range and closing slightly lower. Most sectors experienced pressure, with realty and energy being the top losers. The broader indices followed a similar pattern, with both midcap and smallcap indices losing nearly a percent each.
Indications suggest that the ongoing consolidation will persist, keeping the Nifty within the 22,700-23,100 range. Given the overall bullish trend, traders should use dips toward the lower end of this range to accumulate quality largecap and large midcap stocks. Sector-wise, traders should closely monitor IT and FMCG for cues, as other sectors have already performed well.
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