Quote on Market Wrap Up by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
Below the Quote on Market Wrap Up by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
"Markets remained subdued for yet another session and ended largely flat. After a muted start, the Nifty traded within a narrow range on the weekly expiry day and eventually settled at 24,334. Sectoral trends were mixed, with realty and pharma showing strength, while energy and banking edged lower. Pressure was more pronounced in the broader markets, as the mid-cap and small-cap indices declined between 0.9% and 2%.
The index is currently in a consolidation phase, facing resistance near the 24,400 marks. However, rotational buying in heavyweight stocks across sectors is helping to cushion the downside. Looking ahead, markets will take cues from global developments on Friday, particularly U.S. GDP data and corporate earnings. In this context, we continue to recommend a stock-specific trading approach, with a focus on buy-side opportunities."
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