Taking Stock: Market falls from record highs amid high volatility; banks a major hit

On the sectoral front, healthcare and PSU Bank rose 0.5 percent each, while bank index shed 0.5 percent.

The Indian equity indices ended the first day of the New Year with little change in the highly volatile session after hitting fresh record highs. At close, the Sensex was up 31.68 points or 0.04 percent at 72,271.94, and the Nifty was up 10.50 points or 0.05 percent at 21,741.90.

The market opened with marginal losses and remained in the negative territory for most of the session, while last-hour buying helped the BSE Sensex and Nifty50 to touch fresh record levels of 72,561.91 and 21,834.35, respectively. However, profit booking at higher levels erased all the gain to close marginally higher.

Also Read: Strong macros, rate hopes, retail surge to keep up market rally, predicts Motilal Oswal

Stocks and sectors

Nestle India, Adani Enterprises, Adani Ports, Tech Mahindra and Wipro were among the top gainers on the Nifty, while losers included Eicher Motors, Bharti Airtel, M&M, Bajaj Auto and HDFC Bank.

On the sectoral front, healthcare and PSU Bank rose 0.5 percent each, while the bank index shed 0.5 percent.

Broader indices, BSE Midcap and Smallcap indices touched fresh record highs of 37,171.97 and 43,094.79, respectively, and outperformed the main indices with a 0.5 percent gain.

A long build-up was seen in Hindalco Industries, UltraTech Cements and Bajaj Auto, while a short build-up was seen in Coromandel International, Power Finance Corporation and Metropolis Healthcare.

Index	Prices	Change	Change%
Sensex	84,211.88	-344.52	-0.41%
Nifty 50	25,795.15	-96.25	-0.37%
Nifty Bank	57,699.60	-378.45	-0.65%

Nifty 50 25,795.15 -96.25 (-0.37%)

Fri, Oct 24, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Hindalco	824.45	32.05	+4.04%

Biggest Loser	Prices	Change	Change%
Cipla	1,584.40	-60.70	-3.69%

Best Sector	Prices	Change	Change%
Nifty Metal	10347.50	105.60	+1.03%

Worst Sector	Prices	Change	Change%
Nifty FMCG	56348.10	-424.30	-0.75%

Among individual stocks, a volume spike of more than 900 percent was seen in SAIL, India Cements and Ashok Leyland.

Nearly 400 stocks touched their 52-week high on the BSE, including Castrol India, DCB Bank, Engineers India, Fortis Healthcare, GNFC, GSFC, Gujarat Alkalies, HPL Electric, Indo Amines, JBM Auto, Jubilant Pharmova, Kalyani Steels, Nagarjuna Fertilisers, Rashtriya Chemicals, Sagar Cement, Vodafone Idea and Wockhardt. Click here for the full list

Outlook for January 2

Deven Mehata, Equity Research Analyst at Choice Broking

After a flat opening, the Nifty traded erratic today, reaching a new all-time high of 21834.35 before correcting from higher levels and closing the session slightly above the 21700 support level. Bank Nifty also retreated and found support near 48000 and managed to close above the mentioned support.

The market has traded Flat to positive with the Sensex gaining 0.04 percent and closed at 72271.94 and Nifty was up by 0.05 percent intraday and closed at 21741.90 levels whereas Bank Nifty closed negative, down by 0.12 percent and settled at 48234.30.

Among sectors Nifty PSU Bank, Nifty Media and Nifty IT ended in green while Nifty Auto, Nifty Consumption and Nifty Fin Services ended on the lower side. In Nifty stocks, Nestle, Adani Enterprise and Adani Ports were the top gainers while Eicher Motors, Bharti Airtel and M&M were the prime laggards.

INDIA VIX was Positive by 1.24 percent intraday and settled at 14.68.

Index has a support around 21600-21500 zone. Coming to the OI Data, on the call side, the highest OI observed at 22000 followed by 21800 strike prices while on the put side, the highest OI is at 21700 strike price. On the other hand, Bank Nifty has support at 48000-47900 while resistance is placed at 48450 and 48600 levels.

Aditya Gaggar Director of Progressive Shares

The markets started the new year on a tepid note but PSU Banks and IT stocks took the lead and supported the Index to recoup its losses. In the last session, FMCG and Metal counters propelled the rally; however, due to a steep profit booking fall in the last session, the Index erased its gains to end the 1st trading session of the new year at 21,741.90 with a marginal gain of 10.50 points.

Mid and Smallcaps extended their morning gains and outperformed the Frontline Index.

On the daily chart, the Index has formed a Gravestone DOJI candlestick pattern which indicates the rejection at the higher end. The possibility of a bearish divergence still persists and if the same is confirmed, then we can see a correction to 21,500; on the flip, a convincing close above 21,800 will be considered as a failure of divergence.

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