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Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd

Nifty slipped below the 25k mark, ending 143 points lower at 24,968 (-0.6%). This marks the third consecutive week of decline for Indian equity markets, with the Nifty50 losing 2.6% during the period. Broader market too witnessed selling pressure with Nifty Midcap100 and Smallcap100 declining between 0.7-0.8% each. The early trend in Q1 results has been muted, with management commentary reflecting caution amid global uncertainty, which is weighing on market sentiments. Additionally, the prolonged wait for the India–U.S. trade deal ahead of the looming August 1 tariff deadline, is keeping investors on the side lines. On the sectoral front, Private Banking index (-1.5%) saw significant pressure; primarily dragged by a disappointing Q1 performance from Axis Bank, which reported rising NPAs and lower-than-expected profitability. Defence stocks witnessed continued profit booking with Nifty India Defence index declining over 2%. IT index ended on a flat note following weaker than expected results and muted management commentary from key players like Wipro, Tech Mahindra and L&T Tech. Going forward, banking sector would continue to be in focus with Q1 results of heavyweights HDFC Bank and ICICI Bank, scheduled for release over the weekend. Overall, we expect market to remain in consolidation mode amid continued global trade uncertainty and a subdued start to the Q1FY26 earnings season. Key results on Monday include Ultratech Cement, Eternal, IDBI Bank, Havells, Oberoi Realty among others.

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