Markets remained volatile for another session and ended marginally higher, extending the ongoing consolidation phase. The benchmarks opened on a firm note and held early gains; however, pressure in select heavyweight stocks across sectors gradually eroded momentum as the session progressed. The Nifty eventually settled at 25,694.35, up 0.11%. Early sentiment was driven by a strong rally in IT stocks, led by Infosys after it raised its full-year revenue guidance, which supported the broader IT index. Financials and realty also contributed to the upside, while pharma and energy stocks remained subdued. In the broader market, midcap and smallcap indices closed flat to marginally lower, broadly in line with their prevailing trend.

Market sentiment was supported by earnings-related optimism, though mixed global cues continued to cap aggressive positioning. The earnings upgrade from Infosys helped improve risk appetite and brought some stability after recent uncertainty. At the same time, concerns around a weaker rupee and ongoing global trade-related issues

remained on participants’ radar. Overall participation stayed selective and stock-specific, reflecting continued caution amid geopolitical and macroeconomic uncertainties.

The ongoing tussle around the medium-term moving average, the 100 DEMA near the 25,600 zone, is keeping participants cautious. The market is likely to take cues from the earnings announcements of key heavyweights such as Reliance Industries, HDFC Bank and ICICI Bank in early trade on Monday, which could determine the next directional move. Until then, participants are advised to maintain a selective, stock-specific approach, focusing on sectors showing relative strength such as IT, financials and metals, while adhering to disciplined risk management in the prevailing volatile environment.