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Below the Quote on Market Wrap 08th January 2026 from Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

"Markets ended Thursday’s session on a weaker note as selling pressure intensified, largely in response to feeble global cues. The Nifty opened lower and remained under pressure throughout the session, eventually settling near the day’s low at 25,876.85, down by nearly 1%. Sectoral performance was broadly negative, with metals, energy and IT stocks witnessing significant selling pressure. The broader markets also came under sharp pressure, with both midcap and smallcap indices declining by around 2% each, highlighting broad-based weakness and a cautious stance among participants.

Market sentiment deteriorated amid heightened geopolitical tensions and global trade-related concerns, which weighed on overall risk appetite. Continued foreign institutional selling, coupled with weakness in the rupee, further added to the negative bias. With global cues remaining mixed and the earnings season approaching, trading activity remained cautious and largely stock-specific.

Technically, the Nifty has breached the lower band of its rising channel and retested the crucial support zone around the previous swing low near 25,880. Sustained trading below this level could disrupt the prevailing uptrend and potentially drag the index towards the 25,600–25,700 zone. On the upside, the earlier support in the form of the short-term 20-day DEMA, placed around 26,050, is likely to act as an immediate hurdle, followed by a stronger resistance near 26,300. Participants are advised to maintain strict risk management in existing short-term positions amid heightened volatility and wait for clearer directional cues."

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