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

"The markets remained volatile for yet another session, slipping nearly half a percent after three consecutive days of gains. Early weakness, driven by IT and banking heavyweights reacting to earnings, pulled the benchmark indices lower. However, resilience in key players like Reliance, ITC, and LT helped limit the decline. By the close, the Nifty settled at 23,203.2, down 0.5%. Sector-wise, IT and banking led the losses, while realty, metal, and energy showed strength. Interestingly, broader indices defied the trend and ended marginally in the green.

The ongoing tussle between bulls and bears reflects mixed market sentiment, with select heavyweights supporting recovery hopes on a rotational basis. However, persistent FII selling and a mixed start to the earnings season are restricting upward momentum. Until clear signs of reversal emerge, we advise maintaining a “sell on rise” strategy for the index while focusing on stock-specific opportunities during the earnings season."

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