Daily Market Analysis : The markets remained lackluster and closed flat, taking a pause after Tuesday`s decline 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 remained lackluster and closed flat, taking a pause after Tuesday’s decline. Following a subdued start, the Nifty traded within a narrow range and ultimately ended at the 24,143 level. Sector-wise, metal and pharma stocks were the top losers, while resilience in the IT sector helped limit the overall decline for the second consecutive session. The broader indices also slipped, losing over half a percent each.
With no major domestic triggers, participants are now looking to global markets for direction. An intermediate recovery in the US markets is providing some relief, but ongoing pressure in select heavyweight stocks across sectors is limiting the recovery. In light of the uncertain outlook, we recommend maintaining a cautious stance and adopting a hedged approach until there is more clarity on the market’s next move.
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