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Daily Market Analysis : The broader indices too felt the heat and lost nearly a percent each Says Mr. Ajit Mishra, Religare Broking
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Below the Market Analysis 20 October 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.
Markets edged lower in a dull session and lost nearly half a percent. After the initial downtick, the Nifty oscillated in a narrow band and finally settled at 19,547 levels. The majority of sectors traded in sync wherein oil&gas, metal and realty were the top losers. The broader indices too felt the heat and lost nearly a percent each.
Weak global cues combined with pressure in the key sectors are currently weighing on the sentiment and we don’t expect relief anytime soon. Traders should align their positions accordingly and continue with a hedged approach.
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Bank Nifty witnessed heavy selling pressure throughout the session - Religare Broking Ltd
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