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Below the Quote on Market Wrap 28 May 2025 from Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd

Markets traded subdued within a narrow range with a negative bias, continuing the ongoing consolidation phase. After an initial dip, the Nifty moved in a tight band throughout the session and eventually settled at the 24,752.45 level. Sector-wise, banking, mainly PSUs, led the gains once again, followed by media and energy. On the other hand, FMCG, auto, and pharma sectors ended in the red. Interestingly, unlike the frontline indices, the broader markets continued to show strength, with the smallcap index closing in the green while the midcap index ended flat.

Despite stable global cues and favorable domestic factors, the market is being weighed down by inconsistent FII inflows, which is reflected in the recent increase in volatility.

From a technical perspective, participants are trading within the prevailing range, and a clear directional trend is expected to emerge once the index breaks out of the 24,400–25,200 range. However, traders should maintain a positive bias, focusing on sectors and themes that are witnessing noticeable buying interest

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