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Below the Quote on Market Wrap 09th October 2025 by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

"Markets staged a rebound after yesterday’s dip, gaining nearly half a percent and continuing their consolidation phase. After an initial whipsaw, the Nifty index witnessed steady upward momentum led by buying in heavyweights across sectors and finally settled at 25,181.80. Sectorally, all major indices contributed to the move, with metals, IT, and pharma among the top gainers. Market breadth also remained positive, supported by noticeable interest in midcap and smallcap stocks.

The up move was largely driven by positive global cues, particularly strong overnight gains in AI-linked U.S. tech stocks and buoyant Asian markets. Additionally, the continued recovery in IT counters ahead of TCS results boosted domestic sentiment. The pause in foreign outflows further eased investor concerns, reflecting confidence in India’s earnings resilience despite global uncertainties.

After three days of consolidation, indications now suggest potential trend resumption. However, a decisive breakout above 25,200 would confirm the move, with upside targets seen at 25,400 and 25,650 levels. On the downside, a break below 24,950 may derail the positive tone and extend the consolidation phase. Amid this setup, traders should focus on identifying sectoral outperformers and use intermediate dips to accumulate quality names."

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