Market Probe 17/08/2023 - 17 August 2023

Market Probe 17/08/2023

- Market pressure led to a decline of over 0.5%, mirroring weak global cues. - Despite an attempted rebound mid-session, the tone turned negative in the final hour. - Nifty settled close to the day's low at 19365.25. - Key sectors like energy, FMCG, and IT recorded notable losses. - Broader indices managed to hold their ground, ending flat to slightly positive. - A corrective phase persists with a gradual index decline, though select heavyweights attracted buying interest. - Broader indices' consistent outperformance presents attractive buying opportunities. - Given the ongoing sentiment, the recommendation remains focused on prudent stock selection and risk management.