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Below the Quote on Market Wrap 04 July 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd

"Markets remained volatile for yet another session and ended on a flat note. The tone was negative in the first half; however, a decent recovery in heavyweight stocks pared all the losses as the day progressed, helping the index close near the day’s high at the 25,461 level. A mixed trend persisted across sectors, with realty, IT, and pharma edging higher, while metal and auto ended in the red. The broader indices moved in line with the benchmark and also closed nearly unchanged amid volatility.

With all eyes on the impending US-India trade deal as the tariff deadline approaches, participants are hopeful for a favorable outcome, which could provide the much-needed trigger for the next leg of the market up move. We recommend maintaining a “buy on dips” approach until the Nifty decisively breaks below the 25,200 level, with a strong focus on stock selection. Despite the recent outperformance, the broader indices are still holding up well; however, one should remain cautious, given the potential for profit booking at higher levels."

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