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Below the Quote on Market wrap from Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd - 20 August 2025

"Market extended gains for the fifth consecutive session on Wednesday. After a soft start, the Nifty gradually moved higher through the day, led by IT, FMCG, and realty stocks, while banking counters lagged. The index eventually settled with modest gains of 0.28% at 25,050.55. Broader markets outperformed with positive market breadth, reflecting strength beyond frontline names.

Today’s advance was largely supported by buying in large-cap IT stocks and steady domestic sentiment. In the absence of any major domestic triggers, global cues such as updates from the Jackson Hole symposium, geopolitical developments, and discussions in the GST Council meets will remain on investors’ radar.

Technically, the Nifty is inching towards the 25,250 level; however, call writers at the 25,100 strike may attempt to cap the move on the weekly expiry day. On the downside, the 24,800–24,900 zone now acts as a strong support. Participants should continue to focus on stock selection based on sectoral strength and rotation. While broader indices are also trending higher, the pace of advance remains moderate, indicating selective participation; hence, caution is warranted in the midcap and smallcap segments."

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