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Below the Quote on Market Wrap 08th Aug 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd

"Market edged lower, failing to build on the previous session’s rebound, and ended with a loss of around one percent. After a flat start, the Nifty gradually drifted downward and remained range-bound for most of the session, before sharp selling in the final hour dragged it close to the day’s low at 24,363 level.

All key sectors ended in the red, with realty, metal, and auto emerging as the top losers. The broader indices mirrored this trend, shedding nearly one and a half percent each.

Lingering uncertainty over the tariff situation, coupled with continued selling by FIIs, has been weighing on market sentiment. The medium-term moving average—the 100-day EMA—near the 24,600 mark, which earlier acted as support, is now serving as an immediate resistance. A close below 24,450 signals the continuation of the corrective phase, with a potential retest of the long-term moving average—the 200-day EMA—near 24,200. Traders are advised to align their positions accordingly, with greater emphasis on risk management."

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