IGI Logo

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

"On the weekly expiry day, markets remained range-bound and closed slightly lower. While positive global cues initially drove an uptick, selling pressure in heavyweight stocks across sectors pulled the Nifty into the red, eventually settling at 22,397.20. Barring the banking sector, all major indices ended lower, with realty, auto, and metal stocks leading the decline. The broader indices followed suit, losing nearly a percent each. 

The ongoing consolidation in the Nifty index has kept participants cautious, but a decisive breakout from the 22,250-22,650 range is expected soon. In the meantime, traders should maintain a stock-specific approach while managing position sizes carefully. We continue to advise against adding to loss-making positions, particularly in the midcap and smallcap segments, given the likelihood of sustained underperformance."

Above views are of the author and not of the website kindly read disclaimer