Market Wrap

Indian equities opened the week on a soft note, with the Nifty easing 0.19% to close just above 25,050, snapping its eight-session winning streak. Selling pressure near the 25,153 zone capped upside momentum as traders booked profits at higher levels. Realty stocks outperformed, surging nearly 2.5%, while midcaps and smallcaps stayed more active compared to the headline index. Globally, Asian and European markets lent support even as Wall Street ended the week on a mixed note. On the news front, reports of a possible US trade delegation visit to India ahead of a broader trade deal lifted sentiment for IT and manufacturing-linked counters.

What's Ahead

With support at 24,970–24,900 and resistance at 25,153–25,245, the Nifty is expected to remain range-bound in the near term. Traders will keep a close eye on the US Federal Reserve’s policy meeting on September 17, where a 25-bps cut is widely anticipated, though a small section of the market is pricing in a bigger 50-bps move. Any concrete headlines on India–US trade talks could also trigger sharp sectoral moves.

Market Snapshots

Institiutional Activity

Sectoral Performance

Technical Outlook

Nifty 50

The Nifty 50 ended the day at 25,069.20, down 44.8 points (-0.18%), snapping its recent upward momentum. The index traded in a narrow band of 90 points, opening higher but gradually losing steam as profit booking weighed on sentiment. Market breadth remained weak with 35 declines versus 15 advances, led by losses in Infosys, M&M, and Dr. Reddy’s, while Jio Financial, Bajaj Finance, and Reliance lent some support. RSI has eased to 60, reflecting moderation in bullish momentum. Key support is placed at 24,896 and 24,789, while resistance lies at 25,243 and 25,350. A break above resistance may revive upside momentum, while sustained trade below 24,900 could invite further profit booking.

Bank Nifty

The Bank Nifty closed at 54,887.85, up 0.14%, after moving within a tight 211-point range. Gains in Canara Bank, PNB, and Federal Bank helped offset minor drags from HDFC Bank, Kotak, and Axis. The RSI crossing above 50 suggests early signs of strengthening momentum, though conviction remains moderate. Near-term support is seen at 54,532 and 54,312, while resistance is at 55,244 and 55,464. Sustained trade above 55,000 could open the door for further upside, while dips near support levels may attract buying interest.

Sensex

The Sensex slipped 119 points (-0.15%) to settle at 81,785.74, weighed down by IT and auto names such as Infosys and M&M. Reliance, L&T, and ICICI Bank offered mild support, but overall breadth tilted negative with 20 declines against 10 advances. The index continues to face resistance on the upside amid sectoral rotation. Key support levels are at 81,253 and 80,924, while resistance is placed at 82,318 and 82,647. A close above resistance would be needed to confirm a fresh leg higher.

FINNIFTY

The FinNifty inched higher by 29.8 points (+0.11%) to finish at 26,393.05, supported by strong gains in SBICard, PFC, and Jio Financial. Broader breadth was positive with 12 advances versus 8 declines, though pressure persisted in HDFC Bank, Kotak Bank, and insurance heavyweights HDFCLife and SBILife. The index remains range-bound, with near-term support at 26,200 and 25,950, while resistance is placed at 26,550 and 26,750. Sustained moves above 26,550 could invite follow-up buying.