Daily Market Analysis : The market edged higher, continuing Thursday`s gains, and ended slightly in the green Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote On Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
The market edged higher, continuing Thursday’s gains, and ended slightly in the green. After an initial dip, the Nifty quickly recovered and then traded within a narrow range to finally close at 22,480.55. Sector performance was mixed, with real estate, auto, and metal sectors leading gains, while IT and pharma sectors closed in the red. Broader indices outperformed the benchmark, gaining between 0.8% and 1.6%.
Positive global cues and rotational participation from index heavyweights are helping the index climb higher, though momentum is missing. We thus recommend maintaining a "buy on dips" strategy, with a focus on stock selection.
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