Daily Market Analysis : Trading in the markets remained lackluster, closing marginally higher amid a blend of signals Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Trading in the markets remained lackluster, closing marginally higher amid a blend of signals. The Nifty commenced positively but remained confined to a narrow range throughout the day, eventually settling around the 22,648.20 mark on the weekly expiry day. Sector-wise, there was a mixed bag, with auto, energy, and metal sectors seeing moderate gains, while banking and realty sectors closed in the red. The broader market also lacked vigor, although midcap stocks managed a modest uptick of around half a percent.
Global cues presented a mixed picture, contributing to subdued sentiment, albeit with an overall positive undertone. Our recommendation remains inclined towards a strategy of buying during dips, emphasizing prudent stock selection and overnight risk management. While various sectors are contributing to market movements, the performance of the banking sector is anticipated to be pivotal for generating fresh momentum.
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