Daily Market Analysis : The markets opened the week on a positive note, gaining nearly half a percent in line with Friday`s momentum Says Mr. Ajit Mishra – SVP, Research, 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 opened the week on a positive note, gaining nearly half a percent in line with Friday's momentum. After an early uptick, the Nifty index traded within a narrow range for most of the session, ultimately closing near the day’s high at 25,928.75. Most sectors contributed to the rally, with realty, auto, and energy leading the charge. Broader indices also bounced back, posting gains between 0.8% and 1%.
The prevailing optimism in global markets is driving the trend, and this is likely to continue in the absence of significant domestic triggers. With Nifty nearing the key milestone of 26,000, a brief pause is possible. Given the outperformance of rate-sensitive sectors like banking, financials, auto, and realty, traders should maintain a "buy on dips" strategy, focusing on stock selection, with a preference for large-cap and large mid-cap stocks.
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