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

The monthly expiry day was a roller-coaster ride for participants, ultimately ending on a positive note. Nifty started flat but gradually moved higher in the first half. However, sharp swings in the latter half kept traders on their toes. Sector-wise, mixed trends persisted, with auto, FMCG, and energy emerging as the top gainers, while pharma and metal sectors saw some profit-taking. The disappointment was the underperformance of the broader indices.

In line with the current trend, participants find reassurance in selective buying among heavyweights from various sectors, with banking taking a backseat. And, Reliance, ITC, and Tata Motors were the key contributors to the index today. Given the current scenario, traders should look for buying opportunities on dips, focusing on less volatile sectors or themes like IT, FMCG, and pharma, while being selective with others.

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