Market Wrap

Indian equities extended their winning streak on Friday, with the Nifty50 closing above the psychologically important 25,000 mark for the first time in the September series. The index notched its seventh straight session of gains, advancing 264.5 points (+1.07%) so far this week. The day’s trade was range-bound, but steady buying across select sectors kept momentum intact. Pharma stocks led the rally, with heavyweight participation lending further strength. On the supportive side, foreign investors engaged in short covering, while a softer tone from Donald Trump on trade rhetoric eased global anxieties. Broader sentiment was buoyed by firm gains across Asian and European markets. On the macro front, US CPI inflation for August aligned with expectations, keeping Fed policy outlook stable ahead of the September 17 FOMC meeting.

What's Ahead

With bulls still in control, the Nifty’s immediate support lies at 24,950–24,915, while resistance levels are placed at 25,040–25,080–25,120. Momentum is expected to stay positive, though gains may turn measured as traders await fresh domestic cues. India’s CPI inflation print for August, due later today, will be critical in shaping expectations for the RBI’s stance, while SEBI’s board meeting on September 12 could deliver key regulatory updates that influence sectoral moves. Globally, investor focus remains on the Fed’s policy meeting next week.

Market Snapshots

Institiutional Activity

Sectoral Performance

Technical Outlook

Nifty 50

The Nifty50 managed to hold above the psychological 25,000 mark, closing at 25,005.5 with a modest gain of 0.13%. The session was range-bound, with selective buying in stocks like Shriram Finance, Adani Enterprises, and NTPC offsetting pressure from Infosys, Bajaj Auto, and Titan. Market breadth remained weak, but the RSI nearing 60 suggests momentum is gradually strengthening. The index continues to trade in a narrow band, with immediate support placed at 24,845 and 24,746, while resistance is seen at 25,166 and 25,265. Sustaining above 25,000 will be key for bulls to extend the upmove.

Bank Nifty

The Bank Nifty closed 133.6 points higher at 54,669.6, up 0.24%, after recovering from a soft start. Gains in Axis Bank, PNB, and SBI cushioned weakness from ICICI Bank and Kotak Bank, keeping the index steady above the 54,600 level. Momentum remains indecisive with the RSI hovering near 50, suggesting consolidation may continue in the near term. Immediate support is placed at 54,154 and 53,836, while resistance levels are at 55,185 and 55,504. A sustained move above 55,200 could open room for further upside.

Sensex

The Sensex inched up 123.58 points to close at 81,548.73, supported by gains in NTPC, Axis Bank, and Power Grid, while weakness in Infosys capped broader advances. Market participation remained mixed, with 14 of 30 constituents ending in the red, signaling caution despite index resilience. The index holds above 81,000, with immediate support at 81,021 and 80,694, while resistance is pegged at 82,077 and 82,403. Sustaining momentum above 81,500 will be crucial for the next leg higher.

FINNIFTY

The Nifty Financial Services index added 54.95 points to end at 26,178.7, up 0.21%. Strong moves in Shriram Finance and Axis Bank, along with steady contributions from HDFC Bank and SBI, supported the index, though weakness in insurance names like SBI Life and ICICI Prudential Life kept gains capped. Market breadth was evenly balanced, highlighting selective participation. Immediate support for FINNIFTY is placed at 25,950 and 25,750, while resistance lies at 26,350 and 26,550. A breakout above 26,350 could strengthen bullish momentum.