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
"The markets began the week on a subdued note, ending with a modest gain of half a percent while continuing the ongoing consolidation phase. After an initial uptick, the Nifty traded within a narrow range throughout the day and settled at 24,461.15. Barring the banking sector, all other indices closed in the green, with auto, energy, and FMCG emerging as the top gainers. The broader markets outperformed, posting gains of over 1%.
We are witnessing rotational buying across sectors, which is helping the index maintain its positive tone despite the consolidation. However, participation from the banking sector is crucial, as it could provide the necessary momentum to drive the Nifty toward the 24,800 mark. Participants are advised to maintain a “buy on dips” approach, focusing on stocks demonstrating relative strength."
Above views are of the author and not of the website kindly read disclaimer
