Taking Stock: Nifty above 23,300, Sensex gains 319 pts; mid, smallcaps shine

Market Today

In yet another rangebound session, the Indian market ended on a positive note, extending the winning run on third consecutive session amid positive cues including Gaza ceasefire deal, lower-than-expected US CPI inflation, which increases hopes of more rates cut by Fed this year and falling dollar and US bond yields further boosted investor sentiments.

At close, the Sensex was up 318.74 points or 0.42 percent at 77,042.82, and the Nifty was up 98.60 points or 0.42 percent at 23,311.80.

On the back of positive global cues, the Indian indices opened higher and pushed Nifty index to the day's high of 23,391.65, however, despite some profit booking, the market traded positive throughout the session mostly led by metal, power, PSU banks.

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Biggest Nifty gainers included HDFC Life, Shriram Finance, SBI Life Insurance, Bharat Electronics, Adani Ports, while losers were Trent, Tata Consumer, Dr Reddy's Labs, HCL Tech, Wipro.

BSE Midcap index was up 1 percent and Smallcap indices rose 1.4 percent.

Among sectors, except Consumer Durables, IT, FMCG, pharma, all other sectoral indices ended in the green with metal, media, oil & gas, PSU bank, realty, auto up 0.5-2.5 percent.

Outlook for January 17

Index	Prices	Change	Change%
Sensex	81,207.17	223.86	+0.28%
Nifty 50	24,894.25	57.95	+0.23%
Nifty Bank	55,589.25	241.30	+0.44%

Nifty 50 24,894.25 57.95 (0.23%)

Fri, Oct 03, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Tata Steel	173.21	5.70	+3.40%

Biggest Loser	Prices	Change	Change%
Max Healthcare	1,069.20	-44.00	-3.95%

Best Sector	Prices	Change	Change%
Nifty Metal	10277.10	184.15	+1.82%

Worst Sector	Prices	Change	Change%
Nifty Auto	26753.10	-15.55	-0.06%

Aditya Gaggar Director of Progressive Shares

Despite a strong opening, the Index struggled to build on the initial momentum and remained rangebound, ultimately settling the trade at 23,311.80 with modest gains of 98.60 points. In terms of sector performance, PSU Banking led with gains of over 2%, followed by the Metal and Energy sectors, while FMCG and IT were the laggards.

The broader market also saw rangebound action, but Mid and Smallcaps managed to outperform the Frontline Index.

The Index is currently facing significant resistance at the 23,360 level. A decisive move above this level is crucial for sustaining the positive momentum; otherwise, a retest of the 23,150 support level can be expected.

Jatin Gedia – Technical Research Analyst at Mirae Asset Sharekhan

Nifty opened gap up and again consolidated during the day to close in the green up ~99 points. The Nifty has been in a counter trend pullback mode after a sharp decline. The range of the previous three trading sessions has broken out on the upside indicating that the bounce is likely to continue towards 23500 – 25630.

Hourly momentum indicator has a positive crossover which is a buy signal and suggests that the counter trend pullback can continue. On the downside the crucial support zone stands at 23160 – 23140.

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