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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, reflecting mixed cues. Following an initial rise, the Nifty index drifted lower and remained range-bound, ultimately closing at 24,123.85. Sectoral trends were mixed, with IT, realty, and energy sectors edging higher, while financials and FMCG sectors saw profit-taking. The broader indices experienced a dip, losing nearly half a percent each after a day of gains.

Currently, the index is consolidating with a positive bias, and we expect this trend to continue. If there is any decline, the Nifty has support around the 23,800-24,000 zone. Amid these conditions, traders should focus on selecting quality stocks and use this phase to accumulate them.

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