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Below the Quote on market wrap 04 Sep 2025 from Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

"Markets witnessed a volatile session and ended marginally higher, supported by sweeping GST reforms that signaled a structural tax overhaul. The Nifty opened on a strong note, led by sharp gains in auto and consumer staples, but profit-taking and weakness in select heavyweights dragged the index lower as the day progressed. Eventually, it closed with modest gains at 24,734.30. Sector-wise, auto, financials, and FMCG led the advance, while IT, energy, and realty were the notable laggards. The broader indices, however, underperformed after the recent upmove, losing over half a percent each.

The GST 2.0 reforms strengthen the case for a consumption-led recovery, with auto and consumer staples expected to benefit the most. Select metals and infrastructure names linked to rural stimulus also remain in focus. That said, the broader outlook stays vulnerable to global macro uncertainties, continued FII outflows, and persistent U.S. tariff headwinds. In the near term, consolidation in the benchmark index cannot be ruled out. Hence, we recommend maintaining selective exposure to structurally strong themes while keeping a close eye on the risk–reward equation."

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