Market Wrap

Indian equities extended their winning streak, with the Nifty climbing 0.42% to settle just below the 25,000 mark after briefly testing intraday highs near the milestone level. Broad-based buying, led by defence stocks on strong volumes and bullish reversal patterns, drove sentiment, while IT and financials added further support. Infosys stayed in focus ahead of its September 12 board meeting to consider a buyback. Global cues were supportive, with Asian indices gaining over 1% and European markets also ending higher. FIIs showed signs of short covering, further boosting momentum. Traders also remained attentive to macro triggers, including US PPI data due tonight, CPI numbers tomorrow, and updates on the India–US trade deal.

What's Ahead

Nifty’s breakout above 24,900 signals bullish momentum, with immediate support at 24,915–24,880 and resistance at 25,080–25,125. Sustained buying could see the index test 25,150–25,200, a key reversal zone. Market direction over the next few sessions will be guided by global inflation data, the upcoming SEBI board meeting, and fresh regulatory signals, keeping traders alert despite the ongoing rally.

Market Snapshots

Institiutional Activity

Sectoral Performance

Technical Outlook

Nifty 50

Nifty gained 104.5 points to close at 24,973.1 (+0.42%), briefly crossing the 25,000 mark before settling slightly lower. Strength in IT and financial stocks like BEL, Wipro, HCL Tech, Bajaj Finance, and Axis Bank offset weakness in auto names such as M&M and Maruti. Market breadth was strong, with 35 of 50 constituents advancing. RSI has improved to a three-month high, signaling bullish momentum. Support lies at 24,796/24,687, while resistance is at 25,150/25,259. Sustained buying could push the index toward 25,200.

Bank Nifty

The index climbed 319.9 points to close at 54,536 (+0.59%), breaking out of a four-day consolidation phase. Gains were broad-based, led by Canara Bank, AU SFB, and Federal Bank, while HDFC Bank saw muted action. RSI is inching higher but remains below 50, indicating room for further upside if momentum builds. Key support is at 53,962/53,607, and resistance stands at 55,110/55,465.

Sensex

Sensex added 323.8 points (+0.4%) to settle at 81,425.15, supported by IT heavyweights and banks, while auto stocks dragged. Market breadth remained positive with 19 advances against 11 declines. The index looks well-supported at 80,839/80,476, while resistance is placed at 82,012/82,375. A breakout above 82,000 may trigger a fresh uptrend.

FINNIFTY

The Financial Services index surged 161.8 points (+0.62%) to 26,123.75, with 18 of 20 constituents closing in the green. Bajaj Finance, HDFC AMC, and HDFC Life were top contributors, while HDFC Bank and ICICI Bank provided stability despite muted moves. The setup indicates continued accumulation, with support at 25,900/25,700 and resistance at 26,300/26,500.