Taking Stock: Nifty below 24,800 despite mid-day recovery as expiry, Trump tariff play out

Market Today

Benchmark indices ended in the red, unable to sustain the mid-day recovery following a weak start, with Nifty 50 closing below the 24,800 level as markets assessed the broader impact of Trump's tariff and penalty.

The last-hour selling came on monthly expiry, dragging the Nifty 50 lower. At close, the Sensex was down 296.28 points or 0.36 percent at 81,185.58, and the Nifty was down 86.70 points or 0.35 percent at 24,768.35. For the month of July, Sensex and Nifty lost nearly 3 percent each. The BSE Mid and Smallcap indices shed 0.7 percent each, underperforming the main indices.

US President Donald Trump on Wednesday announced 25% tariffs on India and an additional penalty for buying Russian military equipment and oil ahead of the August 1 deadline.

In another development, the US Federal Reserve's Federal Open Market Committee (FOMC) decided to keep interest rates unchanged at 4.25 percent to 4.5 percent, with two members were of the opinion that the rate should be trimmed by 25 basis points.

Also Read: Trump imposes 25% tariff on India: Markets unlikely to see any long-term earth-shattering impact, says Shankar Sharma

HUL, Jio Financial, Eternal, JSW Steel, ITC were among major gainers on the Nifty, while losers included Adani Enterprises, Dr Reddy's Labs, Adani Ports, Tata Steel, Sun Pharma.

Among sectors, FMCG rose 1.4 percent, while IT, metal, oil & gas, PSU Bank, pharma, realty, telecom declined 0.5-1.8 percent.

Read More: Trump’s 25% tariff threat a negotiation tactic, real levy likely around 15%, says Ajay Bagga

Index	Prices	Change	Change%
Sensex	85,943.88	334.37	+0.39%
Nifty 50	26,285.20	79.90	+0.30%
Nifty Bank	59,747.75	219.70	+0.37%

Nifty 50 26,285.20 79.90 (0.30%)

Thu, Nov 27, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Bajaj Finance	1,039.70	29.00	+2.87%

Biggest Loser	Prices	Change	Change%
Eternal	304.00	-2.85	-0.93%

Best Sector	Prices	Change	Change%
Nifty IT	37524.80	160.20	+0.43%

Worst Sector	Prices	Change	Change%
Nifty Energy	35820.20	-144.60	-0.40%

In stock-specific action, Relaxo Footwears, Sonata Software shares ended down 5 percent each after earnings, Pokarna shares slipped 3 percent as net profit fell, Kaynes Technology's shares jumped 10 percent on strong profit growth, Jio Financial Services shares added nearly 3 percent fund infusion from promoters, and Sagility India shares added 10 percent on 566% profit growth.

More than 120 stocks touched their 52-week highs on the BSE, including HEG, Schneider Infra, Coromandel International, Nuvoco Vistas, Fortis Healthcare, Maharashtra Scooters, Bosch, EID Parry, ICICI Bank, Shyam Metalics, Ramco Cements, Navin Fluorine, among others. Click to View More

Outlook for August 1

Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed a volatile trading session from the lower levels, the Nifty ends 86 points lower while the Sensex was down by 296 points. Among Sectors, FMCG Index outperformed, rallied 1.4 percent whereas Oil and Gas, Capital market and Pharma indices shed over 1 percent. Technically, after a gap down open one more time market took the support near 24600/80600 and bounced back sharply. From the day lowest point market rallied over 300 points. However, it failed to close above 24900/81600 levels. Nevertheless, on intraday charts it has formed higher bottom formation which is largely positive.

For the day traders now, 24650/80800 and 24600/80600 would act as a key support zones. As long as market is trading above the same, the pullback formation is likely to continue. On the higher side market could move up to 25000/81900 and 25050/82200. On the other side, below 24600/80600 the sentiment could change. Below the same, traders may prefer to exit out from the trading long positions.

Ajit Mishra – SVP, Research, Religare Broking

Markets witnessed volatile swings on the monthly expiry day and ended marginally lower amid mixed cues. The surprise tariff announcement by the US President on India initially triggered a knee-jerk reaction; however, a gradual recovery in heavyweight stocks across sectors helped the index briefly turn positive. Selling pressure resurfaced in the final hours, once again putting bulls on the back foot. As a result, the Nifty closed at 24,768.35, down 0.35%.

All major sectors, except FMCG, came under pressure, with pharma, metal, and energy emerging as the top losers. The broader indices also resumed their corrective phase, each losing over a percent.

As the new series begins, the market is likely to consolidate, but global developments and corporate earnings will continue to drive volatility. We maintain our cautious stance and recommend a stock-specific approach, given the mixed trends across sectors. Traders should also avoid averaging down on loss-making positions.

Rupak De, Senior Technical Analyst at LKP Securities

The index recovered smartly after a gap-down opening, rising above 24,900. However, the Nifty failed to sustain at higher levels. The index continues to trade below the 50 EMA, confirming a bearish trend. The RSI is in a bearish crossover. Despite several negative setups, a hidden positive divergence has been observed over the past 2–3 days, indicating a potential bullish reversal. This setup may play out well if the Nifty decisively moves above 25,000. On the lower side, support is placed at 24,600. A range-bound movement is expected until the Nifty breaks out of the 24,600–25,000 range.

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