Daily Market Analysis : The markets traded lackluster and ended almost unchanged, taking a breather after Friday`s surge 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 traded lackluster and ended almost unchanged, taking a breather after Friday’s surge. After an initial uptick, the Nifty edged closer to the new milestone of 25,000 in the first half. However, profit-taking in select heavyweights trimmed the gains as the day progressed, ultimately closing near the day’s low at 24,836.10. Meanwhile, a mixed trend across sectors kept traders engaged, with realty and auto among the top gainers. The broader indices performed well, gaining over a percent each.
Mixed global cues and the underperformance of major banks are causing an intermediate pause in the index; however, the overall tone remains positive. We reiterate our recommendation to maintain a “buy on dips” approach. Besides domestic factors, the performance of the US markets will also remain in focus for cues.
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