Daily Market Analysis : The markets traded flat, showing little movement despite favorable global cues Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
The markets traded flat, showing little movement despite favorable global cues. An early rebound in the IT sector briefly lifted the index, but gains were short-lived. A mixed performance among heavyweight stocks kept the market's momentum in check. Sector-wise, pharma and energy posted solid gains, while banking and real estate sectors saw profit-booking. The broader indices mirrored the benchmark's lackluster performance, closing nearly unchanged.
We maintain a bullish outlook and recommend using periods of consolidation or dips to accumulate quality stocks. In the absence of any major domestic triggers, the focus will remain on global markets for direction. On the Nifty index, we anticipate strong support around the 25,900-26,000 zone, with the upside target still set at 26,500.
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