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

"Markets started the week on a strong note, gaining over a percent, driven by favorable cues. The absence of any major geopolitical developments between India and Pakistan over the weekend, along with stability in global markets, eased pressure and triggered an upbeat start. Additionally, strength in index heavyweight Reliance, following its results, further supported the move as the session progressed. As a result, the Nifty index closed near the day’s high at 24,328.50, up by 1.20%.

On the sectoral front, all key sectors, barring IT, participated in the rally, with pharma, energy, and auto emerging as the top gainers. The broader indices also performed well, posting gains in the range of 0.89% to 1.60%.

This buoyancy is certainly encouraging; however, participants should maintain a positive yet cautious bias, given the lingering geopolitical tensions. A decisive breakout above 24,400 could trigger fresh momentum in the Nifty, potentially propelling it towards the 24,800 marks. Amidst all this, the focus should remain on sectors and themes showing consistent outperformance, with an aim to accumulate quality counters on any intermediate dips."

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