Market Wrap : Markets stayed lackluster, ending slightly lower in correction Says Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Below the Quote on Market Wrap by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
"Markets remained lackluster and ended marginally lower, extending the ongoing corrective phase. After an initial dip, Nifty gradually recovered, followed by a range-bound movement for the rest of the session. Sectoral trends were mixed, with energy, metal, and banking stocks gaining, while auto and IT sectors underperformed. A slight rebound in small-cap stocks improved market breadth, though mid-caps closed on a flat note.
Weak global cues continue to weigh on sentiment, but selective buying is limiting the downside. We maintain a cautious outlook on the index, with key support at the 21,800-22,000 zone. Among sectors, banking, financials, and metals are exhibiting relative strength, while others present a mixed trend. Traders should align their positions accordingly while managing risk with prudent position sizing."
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