Market Wrap

Indian equities staged a strong rally on 11 August, with the Sensex climbing 746 points to 80,604 and the Nifty gaining 222 points to 24,585.05. Buying was broad-based, led by PSU banks, auto, and realty stocks, with SBI, Tata Motors, Eternal, and Grasim among the top performers. Optimism ahead of the RBI policy decision and upbeat Asian markets, buoyed by tech gains and robust earnings, supported sentiment. US futures and bond yields edged higher as investors awaited July CPI data, while Brent crude stayed firm above $84/barrel. On the geopolitical front, reports of Middle East–brokered Russia–Ukraine peace talks offered hope for a potential ceasefire framework later this year.

What's Ahead

On 12 August, all eyes will be on the RBI’s monetary policy outcome, India’s CPI print, and the US inflation report key triggers that could shape global rate-cut expectations. Progress in Russia–Ukraine negotiations may lift risk appetite and ease commodity pressures. Technically, Nifty has support at 24,600–24,400 and resistance at 24,800–25,000; a breakout above 25,200 could set the stage for 25,500–25,700. Crude prices, rupee moves, and macro signals will remain key short-term drivers.

Market Snapshots

Institutional Activity

Sectoral Performance

Technical Outlook

Nifty 50

The Nifty 50 closed strong at 24,585.05, up 0.91%, with 44 of its 50 stocks advancing. Gains were broad-based, led by Adani Enterprises, Tata Motors, and Eternal, while Reliance and HDFC Bank also provided solid support. The rebound from a weak opening shows buyers are regaining control. The RSI moved above 40 for the first time this month, signaling improving momentum.

• Support: 24,371 and 24,238

• Resistance: 24,800 and 24,932A close above 24,800 could open the path toward 25,000 in the short term.

Bank Nifty

Banking stocks rallied, pushing the index to 55,510.75 (+0.92%). Gains were led by PNB and SBI, with 11 out of 12 stocks ending higher. Public and private banks both saw strong buying interest.

• Support: 54,942 and 54,590

• Resistance: 56,080 and 56,432Holding above 55,500 is key for further upside.

Sensex

The Sensex jumped 746 points to 80,604.08, breaking a six-week losing streak. Strong moves in PSU banks, auto, and realty drove the rally, with Tata Motors up over 3%.

• Support: 79,893 and 79,453

• Resistance: 81,315 and 81,755

FinNifty

The Nifty Financial Services index rose 0.91% to 26,405.80, with selective buying in banking and insurance counters.

• Support: 26,136 and 25,970

• Resistance: 26,675 and 26,842

Investor Takeaway

Markets have regained upward momentum after recent weakness. For short-term traders, watch the resistance zones closely—breaking above them could fuel a fresh rally. However, be cautious around key data releases like RBI policy and CPI inflation, which could bring volatility.