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

Markets remained volatile and ended nearly unchanged, extending the prevailing consolidation phase. After an initial dip, Nifty staged a swift recovery in the early hours but struggled to sustain gains due to a lack of follow-up buying and pressure on select heavyweight stocks. It remained range-bound for the rest of the session, eventually closing at 22,932. 

Sectoral trends were mixed, keeping traders engaged—realty, metal, and energy outperformed, while IT and pharma lagged. The highlight of the session was the rebound in broader indices, which gained between 1.5% and 2.3%. 

The ongoing indecisiveness in the index is keeping participants on edge, and this volatility may persist on Thursday. We maintain our view of adopting a stock-specific approach, focusing on resilient sectors and themes, particularly those holding strong even during market downturns, and accumulating them gradually. Additionally, traders should avoid reading too much into the single-day rebound in midcap and smallcap stocks and wait for a clearer recovery signal before taking fresh positions.

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