Taking Stock: Bulls fail to hold grip; Nifty around 19,650, Sensex dips 440 points

Market Today

The benchmark indices erased previous session gains and ended lower on July 27 with Nifty around 19,650 amid selling seen in the auto, oil & gas, metal and FMCG names.

At close, the Sensex was down 440.38 points or 0.66 percent at 66,266.82, and the Nifty was down 118.40 points or 0.60 percent at 19,659.90.

The market ignored the US Fed rate hike last night and amid positive Asian markets, the Indian equity indices started the day on firm note. However, in the mid-session, amid profit booking at a higher level, the market slipped into red and extended the losses to end with a 0.6 percent loss.

The top losers on the Nifty included M&M, Tech Mahindra, Tata Consumer Products, Nestle India and Britannia Industries, while gainers were Cipla, Sun Pharma, Divis Labs, Apollo Hospitals and Bharti Airtel.

On the sectoral front, auto, oil & gas, bank and FMCG indices were down 0.5-1 percent each, while pharma index was up 3 percent, and realty index was up 2 percent.

The BSE Midcap index rose 0.5 percent, while Smallcap index ended on a flat note.

A long build-up was seen in Cipla, REC and Syngene International, while a short build-up was seen in M&M, Can Fin Homes and Vodafone Idea.

Among individual stocks, a volume spike of more than 600 percent was seen in Indiabulls Housing, Canara Bank and Sun TV Network.

Index	Prices	Change	Change%
Sensex	81,790.12	582.95	+0.72%
Nifty 50	25,077.65	0.00	+0.00%
Nifty Bank	56,104.85	0.00	+0.00%

Nifty 50 25,077.65 0.00 (0.00%)

Tue, Oct 07, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Max Healthcare	1,139.70	70.50	+6.59%

Biggest Loser	Prices	Change	Change%
Tata Steel	170.06	-3.15	-1.82%

Best Sector	Prices	Change	Change%
Nifty IT	34722.50	772.75	+2.28%

Worst Sector	Prices	Change	Change%
Nifty Metal	10185.50	-91.60	-0.89%

Glenmark Pharmaceuticals, IDFC First Bank, Bharat Heavy Electricals, Birlasoft , Ajanta Pharma, Syngene International, NTPC, RBL Bank, Marksans PharmA, Zomato, Godrej Properties, Tata Communications, Century Textiles & Industries, among others touched their 52-week high on the BSE.

Outlook for July 28

Ajit Mishra, SVP - Technical Research, Religare Broking:

Markets reversed yesterday's gain on the monthly expiry and shed over half a percent. After the initial uptick, Nifty surrendered all its gain as the day progressed and final settled at 19659.90 levels. Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein auto, banking and oil & gas ended lower while pharma and realty posted strong gains. The positive tone of broader indices offered further opportunities.

We are in a consolidation phase so it is normal to see volatile swings. The key is to manage risk until the trend resumes. Meanwhile, we feel it is prudent to restrict positions and use intermediate dips to gradually add quality stocks.

Shrikant Chouhan, Head of Research (Retail), Kotak Securities

Markets witnessed wild gyration on the expiry day as the US Fed signalling one more rate hike dampened the sentiment and prompted investors to book profit in automobile, banking and oil & gas shares. However, realty and pharma shares were in limelight after the recent correction. Many investors are not comfortable with the current valuations, and hence are redeeming their investment on every possible opportunity.

Technically, on daily charts the Nifty has formed a lower top and bearish candle which is indicating further correction from the current levels. For traders now, 19800 would be the key resistance zone and below the same, the correction wave is likely to continue till 19600-19550. On the flip side, above 19800 the market could rally till 19875-19900.

Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas:

The Nifty witnessed selling pressure throughout the day and closed in the negative down ~120 points. On the daily charts, we can observe that the Nifty has faced resistance from the 61.82% Fibonacci retracement level (19850) and started the next leg of the fall. The daily as well as hourly momentum indicator has a negative crossover which is a sell signal. Thus, both price and momentum indicators are suggesting that there could be some weakness in the short term. The daily Bollinger bands are also contracting, which points towards consolidation in the short term and thus we change our short-term stance from positive to sideways and the range of consolidation is likely to be 19900 - 19500. In terms of levels, 19550 – 19500 shall act as a crucial support zone, and on the upside 19850 - 19900 shall act as an immediate hurdle zone.

Bank Nifty also witnessed a correction from the resistance zone 46300 – 46400 where the previous swing highs were placed. The daily momentum indicator has triggered a fresh negative crossover which is a sell signal. Thus, until the Bank Nifty does not manage to sustain above the 46300 – 46400 zone we can expect it to slip down to 45330 – 45300 levels where support in the form of the 20-day moving average is placed.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.