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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.

Markets remained under pressure, extending their corrective phase with a loss of over a percent. After an initial decline, Nifty staged a strong recovery in the first half but sharp selling pressure in heavyweights pushed the index briefly below the 25,000 mark. All major sectors, except IT, succumbed to the pressure, with realty, auto, and FMCG among the top losers. Broader indices also weakened, shedding nearly a percent each.

The ongoing geopolitical tensions have driven crude prices higher, dampening hopes for a rate cut by the RBI in the upcoming policy meeting. Additionally, noticeable selling by foreign investors is adding to the market's strain. While there may be a pause or slight rebound after the recent slide, the overall bias will remain negative unless Nifty decisively reclaims the 25,600 level. Key sectors such as IT, metal, and pharma are showing resilience, while others are facing selling pressure during rallies. Traders should adjust their positions accordingly and consider adopting a hedged approach.

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