Market Wrap

Indian equity markets opened the new month on a positive footing, with the Nifty advancing around 0.60% to finish marginally above the 24,000 level, supported by renewed buying after the recent correction. Market sentiment improved as investors selectively accumulated quality stocks ahead of the Q1 earnings season. The Nifty Auto Index outperformed the broader market, witnessing broad-based buying and higher trading volumes, suggesting the sector may have resumed its medium-term uptrend following a period of consolidation. Meanwhile, European markets traded on a mixed note with limited movement, reflecting the absence of a strong global trigger. Investors also continued to monitor expectations surrounding the U.S. Federal Reserve's policy outlook, trade-related developments, and crude oil price movements, which remain important drivers of global risk sentiment and foreign investment flows.

What's Ahead

Investor attention will now turn to the upcoming Q1 earnings season, with management commentary on demand trends, margins, and future growth outlook expected to play a bigger role than headline earnings numbers. Market participants will also closely track FII flows, global bond yields, key U.S. economic data, and any fresh developments in international trade policies. Sustained earnings momentum and supportive global cues could help extend the market's recovery, while any disappointment may keep markets range-bound with stock-specific opportunities likely to dominate.

Market Snapshots

Institutional Activity

Sectoral Performance

Technical Outlook

NIFTY 50

The Nifty 50 extended its recovery by closing at 24,102.90, supported by broad-based buying across pharmaceuticals, auto, IT, and select financial stocks. The index continues to trade above the psychologically important 24,000 mark, while the RSI remains above 60, indicating that bullish momentum is intact despite recent consolidation. As long as the index sustains above the immediate support zone of 23,839, the short-term trend is likely to remain positive, with 24,367 and 24,530 acting as the next resistance levels. A sustained move above these levels could strengthen the ongoing recovery, while any profit booking may find buying interest near the support zone.

BANK NIFTY

The Bank Nifty maintained its positive momentum, ending at 57,935.60 as buying across private and public sector banks kept the index firmly in bullish territory. The RSI is hovering near the 70 mark, reflecting strong upward momentum, although the index may witness intermittent profit booking after its recent rally. Immediate support is placed at 56,698, followed by 55,969, while resistance is seen at 59,055 and 59,784. A decisive breakout above the resistance zone could pave the way for fresh highs, whereas any corrective move is likely to attract buying near support levels.

FINNIFTY

The Nifty Financial Services index closed at 26,585.55, extending its gains on the back of broad-based buying across banks, NBFCs, insurers, and diversified financial companies. The index continues to trade with a positive bias, reflecting improving sentiment within the financial space. Immediate support is placed at 26,089, followed by 25,782, while resistance is positioned at 27,082 and 27,389. Holding above the support zone could keep the bullish structure intact, with a breakout above resistance likely to trigger further upside in the near term.

SENSEX

The BSE Sensex ended higher at 77,094.07, supported by strength in pharmaceutical, IT, banking, and heavyweight stocks, indicating sustained buying interest at lower levels. The index continues to exhibit a constructive technical setup as it trades above key short-term support levels. Immediate support is placed at 76,109, followed by 75,500, while resistance is seen at 78,079 and 78,688. A sustained move above the resistance zone could extend the ongoing recovery, while any near-term weakness is likely to remain limited as long as the index holds above its immediate support levels.