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

"Markets came under pressure and declined by nearly one and a half percent, largely weighed down by weak global cues. After two days of lackluster movement, the Nifty slipped below its key support level of 23,100 in early trade and continued to drift lower, eventually settling at 22,904.45. Most sectors witnessed significant pressure, with metals, pharma, and energy being the worst performers. The broader indices, which had outperformed in the previous sessions, saw a sharp correction, plunging between 3% and 4%.

The sharp fall in global markets—particularly in the US—and fresh concerns over potential tariffs on pharma impacted sentiment negatively. However, sustained strength in banking and financial stocks helped limit the overall downside to some extent. Looking ahead, we anticipate a time-wise correction in the Nifty index. Traders are advised to stay focused on stock selection and adopt a hedged strategy until further clarity emerges."

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