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

The NIFTY 50 closed lower by 97.00 points (-0.40%) at 23,995.70, reflecting mild weakness across the index, primarily dragged by banking and IT stocks. The decline was led by AXISBANK (-2.67%), followed by MARUTI (-2.51%), HCLTECH (-2.31%), SHRIRAMFIN (-2.27%), and INDIGO (-2.11%), weighing on the index. Other losers included ICICIBANK (-1.90%) and SBIN (-1.66%), further pressuring sentiment. On the positive side, gains were led by ONGC (+5.63%), followed by ADANIENT (+4.01%), COALINDIA (+3.29%), RELIANCE (+1.99%), and NESTLEIND (+1.71%), providing some support to the index. Market breadth remained weak, with 20 stocks advancing and 30 declining. 

The NIFTY 50 opened at 24,049.90, touched a low of 23,957.05, hit a high of 24,181.80, and closed at 23,995.70, down 97.00 points (-0.40%). The index declined after the recent upmove, weighed down by profit booking in banking heavyweights amid mixed global cues and rising crude oil prices. Weakness in financial stocks and caution ahead of the US Fed policy outcome kept sentiment subdued. The RSI slipped towards 50, indicating fading momentum. Near-term support levels are at 23,749/23,596, and resistance levels are at 24,243/24,395. 

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Nifty Falls as Financials Drag Amid Global Uncertainty 

Bank Nifty Commentary for Today

The NIFTY BANK ended lower by 863.95 points (-1.54%) at 55,400.35, indicating strong selling pressure across banking stocks, with weakness seen throughout the session. The fall was driven by UNIONBANK (-2.87%), followed by AXISBANK (-2.67%), CANBK (-2.22%), PNB (-2.09%), and BANKBARODA (-1.95%), exerting significant pressure on the index. Additional declines in ICICIBANK (-1.90%), IDFCFIRSTB (-1.88%), and INDUSINDBK (-1.68%) further weighed on overall sentiment. However, marginal gains were recorded in YESBANK (+0.15%) and KOTAKBANK (+0.12%), providing slight support. Market breadth remained negative, with 2 stocks advancing and 12 declining. 

The NIFTY BANK opened at 55,862.50, touched a low of 55,263.75, hit a high of 56,138.05, and closed at 55,400.35, down 863.95 points (-1.54%). The index opened on a weak note, showed a brief recovery in early trade, but selling pressure in the latter half dragged it lower. The RSI slipped below 50, signalling weakening momentum. Near-term support levels are at 54,669/54,216, and resistance levels are at 56,132/56,585. 

Quick Comment on FINNIFTY And SENSEX

ended down by 227.15 points (-0.87%) at 25,937.50, indicating a softer trend in financial stocks, mainly impacted by weakness in key lenders and NBFCs. The downside was driven by SBICARD (-3.41%), followed by AXISBANK (-2.67%), SHRIRAMFIN (-2.27%), ICICIBANK (-1.90%), and SBIN (-1.66%), pulling the index lower. Further pressure came from CHOLAFIN (-1.65%) and HDFCLIFE (-1.19%), adding to the negative tone. On the other hand, strength was observed in BSE (+2.70%), along with LICHSGFIN (+1.14%), ICICIGI (+0.54%), MFSL (+0.44%), and BAJAJFINSV (+0.43%), which helped cushion the fall. Market breadth remained tilted towards declines, with 8 stocks advancing and 12 declining. Near-term support levels are at 27,600/27,142, and resistance levels are at 29,084/29,543. 

The SENSEX slipped by 416.72 points (-0.54%) to close at 76,886.91, reflecting weakness in banking and IT sectors, which weighed on overall sentiment. The decline was led by AXISBANK (-2.65%), followed by HCLTECH (-2.64%), INDIGO (-2.59%), MARUTI (-2.53%), and SBIN (-1.88%), exerting pressure on the index. Additional drag came from ICICIBANK (-1.77%) and HINDUNILVR (-1.69%). Meanwhile, gains in RELIANCE (+1.68%), BHARTIARTL (+1.43%), TECHM (+0.95%), SUNPHARMA (+0.80%), and TATASTEEL (+0.73%) helped limit the downside. Market breadth remained negative, with 11 stocks advancing and 19 declining. Near-term support levels are at 76,061/75,550, and resistance levels are at 77,713/78,223. 

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