Market Outlook for Today - NIFTY, BANK NIFTY, SENSEX and FINNIFTY

The NIFTY 50 advanced 116.35 points (+0.51%) to settle at 23,053.10, supported by broad-based buying across retail, aviation, healthcare, and power stocks. TRENT (+5.44%) emerged as the top gainer, followed by INDIGO (+4.33%), INFY (+3.36%), APOLLOHOSP (+3.02%), and POWERGRID (+1.92%). IT stocks also witnessed strong buying interest, with HCLTECH (+1.72%), TECHM (+1.20%), and TCS (+0.99%) extending the sector's gains. NTPC (+1.85%), ETERNAL (+1.72%), GRASIM (+1.66%), and CIPLA (+1.54%) also closed firmly higher. Conversely, SHRIRAMFIN (-2.13%) was the biggest laggard, followed by NESTLEIND (-1.82%), M&M (-1.72%), JIOFIN (-1.21%), and ADANIPORTS (-1.18%). Market breadth was positive, with 29 stocks advancing against 21 declining. 

The NIFTY 50 opened at 22,964.50, touched a low of 22,905.10, hit a high of 23,118.10, and closed at 23,053.10, up 116.35 points (+0.51%). The index extended its recovery for a second consecutive session, supported by strong IT buying and gains across aviation, retail, and pharmaceutical stocks. Positive global cues further lifted sentiment. The RSI moved above 50, signalling improving bullish momentum. Near-term support levels are at 22,844/22,714, and resistance levels are at 23,262/23,392.

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Nifty 50 Extends Recovery on IT Buying and Global Cues

Bank Nifty Commentary for Today

The NIFTY BANK slipped 222.70 points (-0.41%) to end at 54,686.95, as persistent selling in several banking heavyweights outweighed advances in select private sector lenders. INDUSINDBK (-3.46%) recorded the steepest decline, followed by FEDERALBNK (-2.31%), AUBANK (-1.90%), CANBK (-1.88%), and IDFCFIRSTB (-1.88%). YESBANK (-1.81%), BANKBARODA (-1.12%), SBIN (-1.03%), and PNB (-0.85%) also remained under pressure. In contrast, HDFCBANK (+1.39%) led the gainers, with ICICIBANK (+0.82%) and KOTAKBANK (+0.57%) also ending higher. Market breadth was decisively negative, with 3 stocks advancing against 11 declining. 

The NIFTY BANK opened at 54,907.10, touched a low of 54,580.75, hit a high of 55,068.50, and closed at 54,686.95, down 222.70 points (-0.41%). The index opened nearly flat, recovered during the mid-session before witnessing renewed selling towards the close, as banking stocks came under pressure. The RSI fell below 50, signalling weakening momentum. Near-term support levels are at 54,111/53,755, and resistance levels are at 55,263/55,619.

Quick Comment on FINNIFTY And SENSEX

The NIFTY FINANCIAL SERVICES edged higher by 7.65 points (+0.03%) to finish at 24,712.20, as gains in leading banking and insurance constituents largely counterbalanced weakness in non-banking financial stocks. HDFCLIFE (+1.53%) registered the strongest advance, followed by HDFCBANK (+1.39%), ICICIBANK (+0.82%), KOTAKBANK (+0.57%), and ICICIGI (+0.50%). SBILIFE (+0.40%), BSE (+0.24%), and BAJFINANCE (+0.02%) also closed in positive territory. Among the laggards, LICHSGFIN (-3.95%) recorded the sharpest loss, followed by MUTHOOTFIN (-3.54%), SBICARD (-2.78%), RECLTD (-2.41%), and PFC (-2.18%). Market breadth remained negative, with 8 stocks advancing against 12 declining. Near-term support levels are at 24,403/24,212, and resistance levels are at 25,021/25,212. 

The BSE SENSEX gained 308.49 points (+0.42%) to close at 74,459.53, reflecting broad-based buying in IT, aviation, power, and banking shares. TRENT (+5.20%) led the advances, followed by INDIGO (+4.06%), INFY (+3.37%), NTPC (+2.23%), and POWERGRID (+1.57%). ETERNAL (+1.54%), TECHM (+1.23%), HCLTECH (+1.17%), and HDFCBANK (+1.07%) also contributed to the upward momentum. However, SBIN (-1.94%) was the biggest drag, followed by M&M (-1.93%), ULTRACEMCO (-1.47%), TATASTEEL (-1.06%), and AXISBANK (-0.93%). Market breadth remained favourable, with 18 stocks advancing against 12 declining. Near-term support levels are at 73,711/73,247, and resistance levels are at 75,209/75,672. 

Intraday levels for NIFTY, BANK NIFTY, SENSEX and FINNIFTY Levels: