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

The markets remained subdued on the weekly expiry day, closing flat after a brief initial rise. Nifty fluctuated within a narrow range and ended at 24,998.45. Sector-wise, banking, metal, and energy sectors posted decent gains, while Pharma and IT saw sharp declines. Broader indices failed to build on early momentum and closed on a mixed note.

The outlook points to consolidation with a negative bias unless Nifty decisively surpasses the 25,300 mark. On the downside, a drop below the recent low of 24,700 could lead to fresh declines. With the earnings season underway, stock-specific action is expected to pick up. Traders should remain cautious and maintain a balanced approach with positions on both sides.

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