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Below the Quote on Market Wrap 23rd December 2025 from Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

"Markets traded in a subdued manner on the weekly expiry day and ended almost unchanged, taking a pause after the recent rebound. Following a steady start, the Nifty oscillated within a tight range with a mild positive bias and eventually settled at 26,177.15. Sectoral participation remained rotational, with metals, FMCG and energy witnessing buying interest, while IT and pharma saw selective pressure. The broader markets moved largely in line with the benchmark and closed flat to marginally positive.

With the holiday-shortened week ahead of the New Year and the absence of major domestic triggers, global cues continue to dictate market direction. This has led to selective positioning rather than aggressive trades, while foreign flows remained mixed.

Going forward, some consolidation in the index is likely after the recent rebound; however, the overall tone is expected to remain positive. We therefore continue to recommend a buy-on-dips approach, with an emphasis on stock selection based on relative strength. A decisive move above the 26,300 level would be required to generate fresh directional momentum, while support remains intact in the 25,950–26,050 zone."

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