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

Markets remained under pressure and ended the session with a loss of nearly one and a half percent, reflecting weak sentiment. After an initial dip, the Nifty witnessed a gradual decline throughout the day and eventually closed near its intraday low at 24,336. All sectors came under selling pressure, with metals, autos, and energy stocks taking the biggest hit. While the broader indices also ended in the red, their losses were comparatively moderate.

The large-cap segment bore the brunt of the selling pressure, while the broader indices displayed relative resilience. This trend highlights a renewed selling spree by Foreign Institutional Investors (FIIs) ahead of the US Federal Reserve meeting. Moving forward, a decisive break below the 24,300 mark could hinder the recovery and potentially drag the index toward 24,000. In this cautious market environment, traders are advised to adopt a hedged strategy and wait for clarity.

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