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

"Markets slipped after a brief rebound, losing over half a percent as the choppy trend persisted. Sentiment took a hit following the announcement of fresh U.S. tariffs on China, leading to a gap-down opening and a largely range-bound session thereafter. The outcome of the MPC meeting—where a 25-bps rate cut was announced along with a shift to an accommodative stance—failed to evoke any meaningful market reaction. As a result, the Nifty index closed at 22,399.15, down 0.59%.

On the sectoral front, most indices ended in the red, with IT, pharma, and realty emerging as the top losers. The broader market also faced pressure, with losses ranging from 0.60% to 1%.

The ongoing volatility continues to keep traders cautious, and any near-term relief seems unlikely given the recent tariff-related developments and the onset of the earnings season. Investors will react to the IT major, TCS’s results in early trades on Friday, which could influence market direction initially. Until volatility, as reflected by the elevated India VIX, cools off, we recommend maintaining a hedged approach to navigate potential sharp swings."

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