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Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
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Benchmark indices witnessed a volatile trading session today, with Nifty closing 33 points lower after a volatile trade while Sensex was down 73 points. Among sectors, the FMCG index outperformed with a gain of 3 per cent while the Realty index fell the most, falling 2.40 per cent. Technically, the market fell below the 20-day SMA (Simple Moving Average) due to sharp intraday selling, but it eventually found support near 24100/79225 and bounced back sharply. The intraday market structure which shows volatility is likely to continue in the near future.
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