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

"Markets remained subdued on the weekly expiry day, ending nearly unchanged amid the ongoing tussle. After an initial dip, Nifty fluctuated within a narrow range and closed flat at 22,912.90. Sectoral trends remained mixed, with metal, energy, and auto emerging as top gainers, while banking and IT underperformed. Meanwhile, broader indices extended their gains for another session, advancing nearly one and a half percent each. 

The ongoing lack of sustained alignment between two key sectors—banking and IT—continues to create uncertainty among market participants, as other sectors are not in a position to drive a major trend. However, the recent rebound in broader indices has offered some relief. In this scenario, a cautious stance on the index is recommended, with close attention to banking and IT for potential signals. Meanwhile, select pockets across various sectors, except FMCG, are showing notable traction. Traders should prioritize identifying quality stocks while refraining from aggressive positions."

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