IGI Logo

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

The markets experienced volatility and ended nearly flat, primarily in response to mixed earnings reports. After an initial uptick, Nifty saw a sharp decline and fluctuated within a narrow range, closing at 24,815. Most sectors faced pressure, with metal, IT, and FMCG stocks leading the losses. The broader indices also dipped, shedding nearly 1.5% each.

Despite selective rebounds in heavyweight stocks, supported by earnings, most gains appear unsustainable, mainly to prevailing bearish sentiment. We may see consolidation in the current scenario in Nifty however the overall tone is expected to remain negative. Traders should maintain a stock-specific strategy, focusing on risk management.

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