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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, taking a breather after Monday’s move. Following an initial decline, Nifty gradually recovered throughout the day, erasing all intraday losses to close flat at 22,945.20. Sectoral trends remained mixed, with FMCG and auto among the top losers, while IT posted decent gains. Meanwhile, broader indices underperformed, declining between 0.4% and 2%. 

The attempts of stabilizing the Nifty index around the January low of 22,800 has raised hopes for a potential rebound. However, the continued underperformance of broader indices remains a key concern. We maintain our preference for large-cap and larger mid-cap stocks that are demonstrating relative strength within their sectors while advising against bottom fishing in the broader market."

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