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

"The markets remained volatile but managed to close with modest gains, continuing the ongoing consolidation phase. After an initial rise, the Nifty extended its gains and briefly surpassed the 23,813 level, only to lose momentum and gradually drift lower as the session progressed, ultimately closing at 23,813.40 level. Sector-wise, the trend remained mixed, with pharma and auto stocks performing well, while metal and realty sectors faced pressure. The broader indices were subdued for yet another session and ended nearly flat.

The markets continue to face resistance on the upside, reinforcing our negative outlook on the index. However, individual stocks are presenting opportunities on both sides, driven by noticeable strength in defensive sectors like pharma and healthcare, as well as a rebound in select heavyweights from other sectors. We maintain our view to stay stock-specific and hold positions on both sides."

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