Quote on Market Wrap by 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 subdued, trading within a narrow range on the monthly expiry day of the April derivatives contracts, and ended slightly lower. After an initial dip, the Nifty moved in a tight band throughout the session and eventually settled at 24,244.70. Mirroring the benchmark, most key sectors closed in the red, with realty and FMCG among the top losers. The broader indices also traded in a narrow range and ended largely unchanged.
This phase of consolidation in the index is in line with expectations and may continue in the coming sessions. Therefore, we recommend maintaining a focus on stock selection and using market dips as buying opportunities. Following their recent outperformance, banking and financial stocks may see some consolidation. Meanwhile, sectors like PSEs, metals, and pharmaceuticals could attract renewed interest, so plan your short-term positions accordingly."
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