Market Wrap

Indian equities extended their upward momentum, with the Nifty closing at 26,192.15 (+0.54%), inching closer to record highs after hitting an intraday peak near 26,246. Sentiment was boosted by strong global cues, particularly Nvidia’s stellar earnings, which sparked a worldwide tech rally. Domestically, Reliance Industries, along with strength in the Services, Auto, and Energy sectors, propelled the index higher. However, the advance-decline ratio (≈1,383 vs 1,716) reflected narrow leadership, showing that gains were concentrated in select large-caps while mid- and small-cap segments remained subdued. Global risk-on appetite, along with optimism around the ongoing India–US trade discussions, helped reinforce positive sentiment, even though the rally has yet to broaden across the broader market. On the technical front, Nifty now finds immediate support at 26,090 / 26,050, with resistance zones stacked at 26,245 / 26,325 / 26,400.

What's Ahead

Market direction in the coming session hinges on whether the ongoing large-cap dominance evolves into a broader market-wide uptrend or stays narrow and selective. Key drivers to watch include the follow-through from global tech flows post-Nvidia’s earnings, any fresh developments in the India–US trade dialogue, and U.S. macro headlines that could influence global risk sentiment. Additionally, FII flow patterns will be crucial — sustained inflows could push Nifty decisively toward new highs, while stalled or negative flows may result in choppy, rotation-driven trade with heightened intraday volatility. Traders should expect a mix of optimism and caution as the index approaches major resistance levels.

Market Snapshots

Institiutional Activity

Sectoral Performance

Technical Outlook

Nifty 50

The Nifty 50 extended its positive momentum, rising 139.50 points to close at 26,192.15 (+0.54%), supported by broad-based buying with 34 constituents advancing. Strong moves in Eicher Motors, Bajaj Finance, Reliance, Tech Mahindra, and HDFC Bank drove the rally, while only a handful of names like Asian Paints, HCL Tech, and Titan ended lower. Intraday, the index recovered sharply from early weakness and sustained strength through the session, helped by a buoyant global backdrop and Nvidia’s upbeat earnings. Technically, Nifty now trades near the upper band of its short-term range with RSI hovering close to 70, indicating strong momentum but also rising overbought risks. Immediate support lies at 25,971 / 25,836, while resistance is seen at 26,410 / 26,545, where profit booking could emerge.

Bank Nifty

The Bank Nifty posted a mild gain of 131.65 points (+0.22%) to close at 59,347.70, despite 10 of its 12 constituents ending in the red. Heavyweights HDFC Bank and Axis Bank provided much-needed support, offsetting weakness in PSU and mid-sized banks such as Bank of Baroda, Canara Bank, and IndusInd Bank. The index held above intraday lows and closed with resilience, though breadth remained weak. RSI continues to hover near the overbought zone around 70, suggesting momentum is strong but could face resistance on further upside. Key support levels are at 58,785 / 58,452, while resistance remains at 59,862 / 60,195.

Sensex

The Sensex rallied 446.21 points (+0.52%) to close at 85,632.68, led by strength in Reliance, HDFC Bank, Bajaj Finance, Tech Mahindra, and Trent. Although some defensives like Asian Paints, HCL Tech, and Titan saw selling pressure, the broader trend remained constructive with half the index constituents in the green. The index continues to show sustained upward momentum, with near-term support at 84,892 / 84,435, while resistance is positioned at 86,370 / 86,827.

FINNIFTY

FINNIFTY surged 0.79% to close at 27,861.35, supported by gains in Bajaj Finance, Cholamandalam, HDFC Bank, Jio Financial, and SBI Life. Despite pockets of weakness in LIC Housing Finance, Kotak Bank, and SBI, overall breadth remained positive with 12 of 20 constituents advancing. The index remains in a strong short-term uptrend with key support at 27,608 / 27,468 and resistance at 28,063 / 28,204, where the next breakout attempt is likely.