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Below the Quote on Market Wrap 16th December 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd

"Markets traded in a narrow range on the weekly expiry day and ended lower by 0.64%, tracking weak global and domestic cues. Following a gap-down start, the Nifty oscillated within a tight band for most of the session and eventually settled near the day’s low at 25,860.10. Sectoral performance was largely negative, with realty, IT and financials emerging as the top laggards, while FMCG and auto closed almost unchanged. The broader markets remained under pressure in line with the benchmarks, with both midcap and smallcap indices declining by around 1% each.

Sentiment was weighed down by the rupee breaching historic lows and crossing the 91 mark against the US dollar, amid persistent foreign outflows and uncertainty around external trade dynamics, which kept investors cautious. In addition, lacklustre global cues further dampened risk appetite. That said, selective buying in heavyweight stocks and the scheduled weekly expiry helped cap the extent of the decline.

We maintain our consolidation view on the Nifty; however, continued deterioration in the currency could widen the trading range and potentially drag the index below the previous swing low near 25,700. On the upside, the 26,000–26,100 zone remains a key hurdle. In the current environment, we continue to recommend a stock-specific trading approach, with a preference for hedged positions given the prevailing volatility and choppy market conditions."

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