Quote on Market Wrap 18 July 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
Below the Quote on Market Wrap 18 July 2025 by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
"Markets edged lower on Friday, losing over half a percent, primarily due to weak earnings. A sharp decline in Axis Bank following its results made participants cautious ahead of upcoming earnings from other banking heavyweights, namely HDFC Bank and ICICI Bank, which are scheduled over the weekend. Additionally, the results of another index heavyweight, Reliance Industries, expected after market hours on Friday, further added to the cautious sentiment. As a result, the Nifty index nearly tested the support zone of 24,900 before settling at 24,968.40 level.
In line with the benchmark move, most sectoral indices ended in the red, with banking, energy, and FMCG leading the losses. The broader indices also witnessed profit booking, each shedding nearly a percent.
Markets will react to the earnings of the three heavyweights—Reliance, HDFC Bank, and ICICI Bank—in early trade on Monday, which will likely set the tone for the session. On the index front, a decisive break below 24,900 in Nifty could lead to further pressure, while any rebound may face resistance near the 20-day EMA zone around 25,200.
Participants are advised to avoid aggressive directional trades and adopt a hedged approach, with a focus on stock selection based on earnings performance."
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