Markets rose slightly, gaining almost half a percent, extending Wednesday's rise. After the weak start, Nifty maintained positive sentiment for most of the day, however profit-taking in the last hour pared gains. Eventually it settled at 19,765; increased by 0.46%. The majority of sectors agreed to this move, with IT and real estate among the top performers. The broader indices maintained their outperformance and the midcap index also hit a new high. Nifty tested the 19,850 target zone in no time after the breakout and we now expect a breather. All sectors are taking turns participating in the transition, but the banking sector is still not performing as expected. Above all, we recommend focusing on areas that are seeing sustained interest and taking advantage of interim dips to accumulate them. Needless to say, the prevailing upswing in midcap and smallcap groups is expanding the supply, so traders should plan their positions accordingly.
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