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Below the Quote on Market Wrap 02nd December 2025 from Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd

"Markets edged lower on the weekly expiry day, losing nearly half a percent and extending the ongoing consolidation phase. After a soft start, the Nifty drifted gradually through the session and settled near the day’s low at 26,032, marking a decline of around 0.43% from the previous close of 26,176. Sectorally, most indices moved in line with the benchmark, with banking, financials, and metal among the top losers. The broader market tone also remained subdued, as both midcap and smallcap indices ended in the red.

The decline was primarily driven by a sharp contraction in the IIP data, weakness in the rupee, and caution ahead of the upcoming US Fed and RBI policy decisions later in the week. Global cues offered little support, with US markets closing lower due to rising treasury yields and Asian markets showing only a modest rebound.

The Nifty is once again approaching its immediate support zone near the 20-DEMA around 25,950, with the trendline support at 25,900 providing additional cushion. Meanwhile, participants should continue to adopt a stock-specific trading approach, with a short-term preference for auto, banking, pharma, and IT names, while also considering selective shorts in weaker pockets as a hedge."

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