Daily Market Analysis : The markets experienced volatility and closed nearly unchanged amidst mixed signals Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
The markets experienced volatility and closed nearly unchanged amidst mixed signals. Starting flat, the Nifty fluctuated significantly throughout the day before settling around the 22,519 mark. While profit-taking was observed across most sectors, strength in banking and IT sectors mitigated overall losses. Broader indices, following days of strong performance, dipped by approximately 0.5% to 1%.
Rotational buying across key sectors is supporting a positive market sentiment, yet without clear conviction. Therefore, we advise continuing a strategy of "buying on dips" in the index and placing emphasis on selective stock picks based on sectoral or thematic factors. Banking has reached new highs and is anticipated to sustain momentum, while renewed interest in IT is expected following recent consolidation
Above views are of the author and not of the website kindly read disclaimer
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