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Below the Quote on market wrap 03 Sep 2025 from Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

"Markets moved higher and gained over half a percent, supported by optimism around the GST Council meeting. After a flat start, the Nifty traded in a range during the first half, but renewed buying in select heavyweights in the latter part of the session pushed the index upward. Eventually, it closed near the day’s high at 24,715.05. Sectoral performance was broadly positive, with metals, pharma, and banking leading the gains, while IT remained the only laggard. The broader indices also advanced in tandem, rising in the range of 0.6%–1%.

With participants awaiting clarity from the GST Council outcome, we continue to view the index as being in a consolidation phase. Any favorable announcements from the GST Council could act as a near-term catalyst. In the meantime, metals and consumer-oriented sectors are showing relative strength, whereas persistent underperformance in IT and banking continues to weigh on sentiment. Traders are advised to keep positions light and align strategies with evolving sectoral trends."

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