Benchmark indices started the week on a positive note, erasing some of the previous session's losses as IT and metal shares rallied on Federal Reserve Chair Powell's hint on US interest rate trajectory, though the Nifty 50 index continued to face resistance at around 25,000 levels.
The index pulled back from the highs of the day, and at close, the Sensex closed up 329.06 points or 0.40 percent at 81,635.91, while the Nifty 50 was up 97.65 points or 0.39 percent at 24,967.75. Broader market indices underperformed key indices with BSE Mid and Smallcap indices ending on a flat note.
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On the sectoral front, IT index rose 2.3%, Realty index added 0.7%, metal index jumped 0.6%.
Infosys, TCS, HCL Technologies, Wipro and Hindalco Industries were among major gainers on the Nifty, while losers were Apollo Hospitals, Nestle India, Bharat Electronics, Adani Enterprises and SBI Life.
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In stock-specific action, paper stocks like Emami Paper, JK Paper rose up to 20% after Centre set a minimum price on import of packaging material, Nazara shares hit a three-month low, Mazagon Dock rose 2% on buzz of negotiations for a Rs 70,000 crore plan for six submarines with Germany's Thyssenkrupp.
160 stocks touched their 52-week highs on the BSE, including TVS Motor, eClerx Services, Jindal Stainless, Nykaa, UPL, HDFC AMC, Paytm, UNO Minda, Delhivery, Maruti Suzuki, M&M, Cummins India, Sai Life Sciences, among others. Click to View More
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 85,706.67 | -13.71 | -0.02% |
| Nifty 50 | 26,202.95 | -12.60 | -0.05% |
| Nifty Bank | 59,752.70 | 15.40 | +0.03% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| M&M | 3,757.30 | 76.10 | +2.07% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| SBI Life Insura | 1,966.00 | -38.50 | -1.92% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 27774.60 | 170.90 | +0.62% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Energy | 35548.30 | -207.90 | -0.58% |
Outlook for August 26
Ajit Mishra – SVP, Research, Religare Broking
Markets started the week on a positive note, gaining nearly half a percent on the back of favorable global cues. After an initial uptick, the Nifty slipped in early trade but recovered as strong buying in IT majors and resilience in heavyweights across other sectors lifted the index higher. As a result, the Nifty 50 ended near 24,967.75, up around 0.4%. In contrast, the broader markets remained subdued, closing almost flat, reflecting a cautious undertone.
Investor sentiment was buoyed by easing global rate concerns, with comments from the U.S. Federal Reserve hinting at a possible rate cut next month, boosting risk appetite across emerging markets. On the domestic front, steady institutional inflows and softening crude oil prices provided additional support.
From a technical perspective, the Nifty faces immediate resistance at the 25,150 level; a breakout above this could open the door for further gains. Traders should closely track IT, metals, and realty stocks, while financials are likely to set the tone for the next session.
Rupak De, Senior Technical Analyst at LKP Securities
The Indian equities remained strong, tracking global cues, as the dovish speech by Fed Chair Jerome Powell boosted risk-on sentiment. However, the Nifty fell short of the 25,000 mark, closing slightly below it. The sentiment remains positive as long as the index holds above 24,800.
In the near term, particularly on Tuesday, the Indian market may trade sideways as traders await the final verdict on Trump’s additional 25% tariff decision on 27th August.
The Nifty is expected to remain within the range of 24,800–25,150 before any decisive directional move.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
After showing sharp weakness on Friday, Nifty bounced back smartly on Monday and closed the day with decent gains of 97 points. After opening with a positive note, the market continued to surge higher gradually for better part of the session. There was a consolidation movement towards the end and Nifty closed the day off the highs.
A small positive candle was formed on the daily chart with minor upper and lower shadow (Inside day type candle pattern). This market action indicates an absence of follow-through selling in the market after a sharp weakness of Friday. This is positive indication.
The opening upside gap of 18th Aug remains unfilled after six sessions of its formation. This bullish breakaway gap indicates more upside for the Nifty in the near term. Hence, the next upside target to be watched around 25200-25300 in the near term. Immediate support is placed at 24800.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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