Taking Stock | Market gains for third day; Sensex up 303 points, Nifty above 16,200

The Indian benchmark indices closed higher for the third consecutive day on July 8, lifted by buying in capital goods as well as power stocks and cooling oil prices.

At close, the 30-pack Sensex was up 303.38 points, or 0.56 percent, at 54,481.84, and the broad-based Nifty gained 87.70 points, or 0.54 percent, to 16,220.60. For the week, both indices added 3 percent each.

The Indian rally got stronger as crude prices corrected, halving selling by foreign institutional investors when compared to the previous week,” said Vinod Nair, Head of Research at Geojit Financial Services.

“However, this rally can fizzle out as correction in commodities prices and tightening monetary policy are negative for the global economy, limiting earnings growth and valuation expansion,” he said. The Q1 earnings season will be the focus of the market in the near term.

Larsen and Toubro, Power Grid Corporation, Tata Motors, NTPC and Coal India were among the top Nifty gainers. HDFC Life, ONGC, Tata Steel, JSW Steel and Maruti Suzuki were among the biggest losers.

On the sectoral front, except the Nifty Metal, all indices ended in the green. Bank, energy, pharma and FMCG indices rose 0.5-1 percent.

On the BSE, the capital goods index added 2.2 percent and the power index 1.7 percent but the metal index declined 1 percent on falling commodity prices.

BSE midcap and smallcap indices ended with marginal gains.

Index	Prices	Change	Change%
Sensex	85,524.84	-42.64	-0.05%
Nifty 50	26,177.15	0.00	+0.00%
Nifty Bank	59,299.55	0.00	+0.00%

Nifty 50 26,177.15 0.00 (0.00%)

Wed, Dec 24, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Coal India	400.40	14.15	+3.66%

Biggest Loser	Prices	Change	Change%
Infosys	1,668.30	-21.30	-1.26%

Best Sector	Prices	Change	Change%
Nifty Metal	10727.05	58.05	+0.54%

Worst Sector	Prices	Change	Change%
Nifty IT	39173.70	-314.30	-0.80%

A long build-up was seen in SRF, L&T and India Cements, while a short build-up was seen in Bandhan Bank, NBCC and RBL Bank.

Among individual stocks, a volume spike of more than 200 percent was seen in India Cements, JK Cement and HDFC Asset Management Company.

Elecon Engineering, Mahindra & Mahindra and ITC touched their 52-week highs on the BSE.

The Nifty witnessed a smart recovery during the week. On the way up, it crossed short-term hurdles, including the psychologically vital mark of 16,000. It filled up a gap area that was created during the June decline.

The index has now reached a crucial junction. It has reached its daily upper Bollinger Band as well as upper end of a rising channel.

In terms of the Fibonacci retracement, it has done little more than 61.8 percent of the June fall. Thus, sustainability at this level will be crucial to determine further extension in the up move.

If the Nifty crosses July 8 high of 16,275, it can head towards 16,500 in the short term. On the flip side, failure to hold above 16,200 will allow a dip towards 16,050-16,000.

On the technical front, the Nifty has been sustaining above the upper band of the rising wedge formation, which suggests strength for next day.

The index has formed a bullish candle on the weekly time frame, which, too, points to an upside rally.

The Nifty has given closing above 21 and 50-DMA, suggesting strength for the next session.

The Nifty may find support around 16,100, while on the upside 16,350 may act as an immediate hurdle crossing which can lead to a rally. Overall, stock-specific moment has been observed. If the index sustains above 16,200, it can head to 16,500.

Positive momentum continued as investors are buying but selectively and not going overboard. Negative news can make a comeback anytime and trigger a broader sell-off in the market yet again.

Technically, on the weekly chart, the Nifty has formed a long bullish candle and also surpassed the short-term resistance of 16,000.

In the short term, 16,000 and the 50-day Simple Moving Average (SMA) will be the key support level. The short-term texture of the market is positive but slightly overbought. Hence, there is a strong possibility of a range-bound activity in the near future.

On the higher side, 16,300 and 16,450 will be the key resistance zones, while 16,100 and 16,000 could be the sacrosanct support levels.

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