The index opened on a weak note but quickly recovered, before settling into a narrow range for the rest of the session. Despite the subdued intraday movement, the Nifty managed to hold firm above the 25,000 mark and eventually ended 32 points higher at 25,005.
Among the top gainers in the Nifty pack were Adani Enterprises, Shriram Finance, and NTPC. On the flip side, it was a weak session for Bajaj Auto, Eicher Motors, and Infosys, which emerged as the major losers.
Sectorally, the mood remained upbeat, with most indices closing in the green. The exceptions were Nifty IT, Auto, and Consumer Durables, which ended in the red. Outperforming sectors included Nifty Oil & Gas, Media, and PSU Banks.
However, the broader market underperformed. Both the Nifty Midcap 100 and Smallcap 100 indices ended the day flat, indicating limited participation beyond the large caps.
On the institutional side, Domestic Institutional Investors (DIIs) were net buyers, infusing ₹5,000 crore, while Foreign Institutional Investors (FIIs) recorded mild net selling of ₹115 crore, after having pumped in ₹2,000 crore in the previous session.
Macro tailwinds
India continues to make progress on several trade negotiation fronts. A Free Trade Agreement (FTA) with Oman is expected to be finalised in the coming weeks. Bilateral discussions with the US remain on track despite ongoing tariff tensions, and the 13th round of FTA talks with the European Union is currently underway in New Delhi, with both sides aiming to conclude a deal by year-end.
Global investors are also eyeing key macroeconomic releases that could impact market sentiment: the ECB’s rate decision, US CPI and jobless claims, and the UK’s GDP data, due Friday. The US Fed’s policy stance next week remains the most critical external factor to watch.
Over the last six sessions, the Nifty has gained more than 290 points or 1.3%. According to Siddhartha Khemka of Motilal Oswal, this gradual uptick may continue, backed by positive factors such as GST reforms, expectations of a US Fed rate cut, and improving sentiment around US–India trade relations.
What do the Nifty charts indicate?
According to Nagaraj Shetti of HDFC Securities, the underlying trend in Nifty remains positive but choppy. However, any failure to break decisively above the 25,000-25,100 resistance zone in the next few sessions could result in short-term weakness. Immediate support is pegged at 24,800.
Osho Krishan of Angel One has identified 25,100-25,150 as the next key resistance. A breakout above this level could lead to a test of 25,200-25,250, while a bullish gap near 24,900 is likely to act as support. Additionally, the 20-day and 50-day EMAs, both converging around 24,800, provide a strong technical base.
Rupak De of LKP Securities said that the Nifty has faced consistent resistance near the 25,050 zone, while support lies at 24,850-24,900. A sustained move above 25,150 could trigger a rally toward 25,500, whereas a dip below 24,850 may invite weakness.
Nandish Shah of HDFC Securities believes the short-term trend remains bullish, as Nifty is trading above its 5-, 20-, and 50-day moving averages. Immediate resistance is seen at 25,153, derived from the previous swing high, with 24,800 acting as near-term support.
What do the Bank Nifty charts indicate
On Thursday, the Bank Nifty gained 0.24%, closing at 54,670, and managed to climb above its 20-day EMA. The daily chart shows a bullish candle with a minor upper shadow, signaling emerging strength.
According to Sudeep Shah of SBI Securities, the 100-day EMA zone of 54,800-54,900 is the immediate hurdle. A breakout above 54,900 could drive the index higher toward 55,400. On the downside, the 54,400-54,300 zone will act as key support.
