IGI Logo

Below the Quote on Market Wrap 26th Sep 2025 by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

"Markets remained under pressure and extended their losing streak for the sixth straight session. The tone was weak from the outset and worsened as the day progressed. Eventually, the Nifty closed near the day’s low at 24,654.70, down 0.95%. The decline was broad-based, with pharma and IT stocks leading the fall following U.S. tariff announcements on branded drugs. The broader indices bore the brunt of the sell-off, slipping nearly 2% each.

The announcement of tariffs on branded drugs weighed heavily on sentiment, adding to recent concerns over visa policy changes. IT counters were further dragged by weak guidance from global peers, while persistent FII outflows and a weak rupee amplified the pressure.

On the technical front, sustained weakness in heavyweights has accelerated the index’s decline over the past two sessions, with the Nifty now approaching its key support near the 200 DEMA around 24,400. Meanwhile, the sharp correction in mid- and small-cap stocks has further dampened market sentiment. Given this backdrop, we recommend adopting a cautious approach—focusing on fundamentally strong stocks while avoiding aggressive directional bets until clearer signals emerge."

Above views are of the author and not of the website kindly read disclaimer