Daily Market Analysis : The outlook suggests further consolidation in the index, but the bias remains positive 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 experienced another volatile session, ultimately closing nearly flat amid mixed signals. After an initial dip, the Nifty climbed to a new record high, but profit-taking in the final hour erased all the gains. Sector-wise, mixed trends kept traders engaged, with IT and pharma sectors showing decent gains, while realty and banking lagged. The broader indices mirrored the benchmark index, ending almost unchanged.
Currently, we observe a balancing act, as the ongoing underperformance of major banking stocks weighs on market sentiment, while the strength in select heavyweights from IT, FMCG, metals, and energy on a rotational basis helps maintain a positive tone. The outlook suggests further consolidation in the index, but the bias remains positive. Traders should continue to focus on stock selection.
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