Quote on Market Wrap 06 Oct 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
Below the Quote on Market Wrap 06 Oct 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
"Markets began the week on a strong note, gaining over half a percent amid supportive global and domestic cues. The tone remained positive throughout the session, aided by rotational buying in index heavyweights. Consequently, the Nifty index settled near the day’s high at 25,077.65. Sector-wise, strength in banking, along with a rebound in IT and healthcare, drove the momentum, while metals and FMCG traded on a muted note. Broader market sentiment also remained upbeat, with the midcap index advancing nearly a percent and smallcaps posting modest gains.
The rally was supported by a combination of robust domestic triggers and encouraging global factors. Positive business updates from leading private banks bolstered sentiment, while the upward revision of CGHS rates added traction to healthcare stocks. Additionally, festive season demand and optimism around upcoming IPOs kept the undertone constructive. Globally, optimism surrounding potential US Fed policy easing and strength in Asian markets fueled risk-on appetite.
Technically, the Nifty has reclaimed its short-term moving average (20-DEMA) and looks poised to test 25,150, with potential to extend the move toward 25,400. Sustained strength in banking and IT majors will be key to maintaining momentum. Amid all, we continue to favor themes such as PSU banks, oil marketing companies, and defense, while using dips to accumulate quality names from the metal and auto sectors."
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