Taking Stock: Markets fail to hold record high levels; mid, smallcaps rally

Market Today

Markets began the trading week on a strong note and continued the previous session's record run on July 29 with benchmarks hitting fresh all-time high led by banking stocks post robust earnings reported over the weekend.

At close, the Sensex was up 23.12 points or 0.03 percent at 81,355.84, and the Nifty was up 0.01 points or 1.25 percent at 24,836.10,

On July 29, the Nifty50 and BSE Sensex touched fresh record high of 24,999.75 and 81,908.43, respectively.

On the back of strong global cues, the Indian indices opened at fresh record high and extended the gains in the first half. However, they erased all gains in the second half to end with little change from the previous close.

Top Nifty gainers were Divis Labs, L&T, BPCL, Bajaj Finserv and M&M, while losers were Titan Company, Bharti Airtel, Cipla, ITC, and Tata Consumer Products.

On the sectoral front, IT, FMCG, telecom down 0.4 percent each, while auto, bank, media, capital goods, oil & gas, power and realty rose 0.5-2.5 percent.

The BSE midcap index rose nearly 1 percent while smallcap index added 1.2 percent.

Indian bourses commenced the week at yet another record level of 24,940. After a minor dip in the morning trade, Banking counters set the stage for the Index to surpass the psychological barrier of 25,000 but a hidden bearish divergence in the RSI pulled BankNifty lower which put pressure on the Index to trade lower to end the day at 24,836.10 with a minuscule gain of 1.25 points.

Index	Prices	Change	Change%
Sensex	85,567.48	638.12	+0.75%
Nifty 50	26,172.40	206.00	+0.79%
Nifty Bank	59,304.00	234.80	+0.40%

Nifty 50 26,172.40 206.00 (0.79%)

Mon, Dec 22, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Shriram Finance	934.85	33.15	+3.68%

Biggest Loser	Prices	Change	Change%
SBI	974.30	-6.00	-0.61%

Best Sector	Prices	Change	Change%
Nifty IT	39488.00	796.40	+2.06%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	8376.45	19.15	+0.23%

On a sectoral front, PSU Banks and Media were the outperformers while FMCG and IT ended the session in red. Despite a steep reversal in the markets, Mid and Smallcaps held their gains to outshine the Frontline Index.

On the daily chart, the Index has formed a small red candle with a probable bearish divergence in RSI indicating a temporary pause in its journey towards the north. A level of 25,000 will continue to act as an immediate resistance while 22,560 is a strong support point.

Nifty opened on a positive note and witnessed a volatile day of trade. It managed to close marginally in the green up ~8 points. On the daily chart we can observe that the Nifty has rallied around 800 points in the last three trading sessions.

The hourly momentum indicator has triggered a fresh negative crossover suggesting loss of momentum. Thus, there is a high probability that the Nifty is likely to consolidate over the next few trading sessions.

On the downside crucial support is placed at 24650 – 24600 where the key hourly moving averages are placed. On the upside, 25000 is the key psychological hurdle from short term perspective.

Bank Nifty has also witnessed an extremely volatile day of trade today. It faced resistance at the falling trend line (52300) derived by joining the previous couple of swing highs.

On the downside, 51200 – 51000 is a crucial support zone. Thus, the Bank Nifty is also suggesting rangebound price action over the next few trading sessions. In terms of levels, 51800 – 52000 is an immediate hurdle while support is placed at 51200 – 51000.

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