IGI Logo

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.

Above views are of the author and not of the website kindly read disclaimer