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Below the Quote on the market wrap by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

"The markets took a pause after a three-day rally, shedding over half a percent. Following a flat opening, the Nifty traded within a narrow range throughout the session, eventually closing near the day’s low at the 24,005 level. Sectoral trends were mixed, with energy and FMCG sectors ending in the green, while IT and pharma closed in the red. The broader indices mirrored the benchmark’s movement, finishing with a decline of nearly half a percent each. 

This pullback appears to be a normal pause following the recent recovery and could persist until the Nifty decisively crosses the next resistance at 24,250. We continue to recommend focusing on stock-specific opportunities in line with sectoral trends. In the near term, sectors like FMCG, auto, and energy are expected to outperform, so positions should be aligned accordingly."

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