Market Outlook for Today

The NIFTY 50 closed higher by 67.85 points (0.26%) at 25,935.15, supported by buying interest in auto and select stocks during a largely range-bound session. ETERNAL led the gains with a sharp 5.19% rise, followed by TATASTEEL (+2.90%), ONGC (+1.88%), M&M (+1.87%), and BAJAJ-AUTO (+1.79%), which together provided key support to the index. Additional strength was seen in TECHM (+1.50%), POWERGRID (+1.35%), LT (+1.32%), and EICHERMOT (+1.32%). However, persistent selling pressure in select financials, telecom, and pharma stocks capped gains, with HCLTECH (-2.03%), BAJFINANCE (-1.82%), DRREDDY (-1.55%), SHRIRAMFIN (-1.33%), and BHARTIARTL (-1.31%) ending lower. Market breadth remained positive with 27 advances against 23 declines.

The NIFTY 50 opened at 25,922.65, touched a low of 25,870.45, hit a high of 25,989.45, and closed at 25,935.15, up 67.85 points (0.26%). The index extended its uptrend and closed higher, supported by continued trade deal optimism and improving FII sentiment. Adani Group stocks fell amid continued concerns related to the US SEC probe. The RSI has risen near the 60 mark, indicating strengthening bullish momentum. Near-term support levels are at 25,516/25,258, and resistance levels are at 26,351/26,610.

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Nifty Gains for the Third Consecutive Session

Bank Nifty Commentary for Today

The NIFTY BANK closed marginally lower by 42.95 points (-0.07%) at 60,626.40, as selective buying in private sector banks was outweighed by broader weakness across PSU and mid-sized banking stocks. AXISBANK (+1.02%) led the gains, followed by ICICIBANK (+0.56%), which provided limited support to the index. However, continued selling in several constituents limited further gains, with FEDERALBNK (-1.87%), IDFCFIRSTB (-1.01%), CANBK (-0.73%), YESBANK (-0.65%), HDFCBANK (-0.50%), AUBANK (-0.44%), SBIN (-0.33%), BANKBARODA (-0.33%), and PNB (-0.31%) ending lower. Notably, PSU banks witnessed profit booking after the recent rally. Market breadth remained negative with 2 stocks advancing against 12 declines.

The NIFTY BANK opened at 60,740.80, touched a low of 60,531.55, hit a high of 60,797.55, and closed at 60,626.40, down 42.95 points (-0.07%). The index opened slightly higher and moved to a mid-day high before slipping on profit booking in select banking heavyweights to close on a muted note. RSI remains near 60, indicating moderately positive momentum. Near-term support levels are at 59,687/59,105, and resistance levels are at 61,566/62,147.

Quick Comment on FINNIFTY And SENSEX

The NIFTY FINANCIAL SERVICES gained 32.20 points (0.11%) to 28,186.25, led by select NBFCs, while broader financials stayed under pressure. BSE (+6.26%) led the advances on strong buying interest, followed by MUTHOOTFIN (+2.86%), AXISBANK (+1.02%), ICICIGI (+0.69%), and ICICIBANK (+0.56%), which provided modest support to the index. Additional strength from JIOFIN (+0.50%) helped sustain the positive close. However, weakness across lenders and insurance stocks capped further upside, with CHOLAFIN (-2.59%), BAJFINANCE (-1.82%), SHRIRAMFIN (-1.33%), RECLTD (-1.14%), ICICIPRULI (-1.06%), HDFCLIFE (-0.57%), and HDFCBANK (-0.50%) ending lower. Market breadth remained negative with 6 stocks advancing against 14 declining. Near-term support levels are at 27,736/27,458, and resistance levels are at 28,636/28,915.

The BSE SENSEX closed higher by 208.17 points (0.25%) at 84,273.92, supported by broad-based buying across metals, capital goods, and select IT and banking stocks. ETERNAL (+5.19%) led the gains, followed by TATASTEEL (+2.89%), M&M (+1.79%), POWERGRID (+1.69%), and TECHM (+1.66%), which provided key support to the index. Additional strength was seen in NTPC (+1.37%), LT (+1.32%), TCS (+1.26%), MARUTI (+1.14%), and AXISBANK (+1.07%). However, weakness in select telecom, financial, and IT stocks capped the upside, with HCLTECH (-1.86%), BAJFINANCE (-1.80%), BHARTIARTL (-1.27%), ASIANPAINT (-0.77%), and HDFCBANK (-0.55%) ending lower. Market breadth remained slightly positive with 16 advances against 14 declines. Near-term support levels are at 82,907/82,035, and resistance levels are at 85,725/86,597.

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