IGI Logo

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

The markets ended their gaining streak, losing nearly half a percent due to weak global cues. In line with other Asian markets, the Nifty index opened with a gap down, following a decline in US markets. However, selective buying in heavyweight stocks helped trim the losses as the session progressed, with the index eventually closing at 25,198, down by 0.3%. Sector-wise, the trend was mixed; pharma, realty, and FMCG sectors saw gains, while IT and metal sectors faced profit-taking.

This move indicates that the bulls are still holding their ground, though consolidation could occur if global pressures intensify. We recommend maintaining a focus on stock selection and trade management, with the support zone for Nifty remaining strong at 24,850-25,000.

Above views are of the author and not of the website kindly read disclaimer