Nifty Gains for the Second Straight Day Amid Global Tailwinds

Mr. Nandish Shah - Deputy Vice President, HDFC Securities

The Nifty 50 extended its winning streak for a second consecutive session, climbing 141 points to settle at 25,713. The index opened firmly higher after the US Supreme Court's 6-3 ruling struck down President Trump's broad emergency tariffs. However, Nifty corrected nearly 160 points from its morning peak of 25,771 to hit 25,609 before rebounding over 110 points post-2:15 PM. Market participation saw an uptick, with NSE cash volumes rising 9% over the previous day.

Adani Ports, Kotak Mahindra Bank, and HDFC Life led Nifty gainers, while Hindalco, Wipro, and Infosys faced selling pressure as top losers.

Sectoral performance was mixed: PSU Banks, Auto, and FMCG posted the strongest gains, but IT, Chemicals, and Consumer Durables ended as laggards.

Nifty Midcap 100 dipped 0.43%, while Nifty Smallcap 100 edged up 0.29%. Market breadth stayed weak for the third day, with BSE advance-decline ratio at 0.81 amid profit-booking in midcaps and smallcaps.

The Rupee strengthened 10 paise to 90.88, fueled by a softer dollar following the US court's tariff ruling and declining crude prices.

Despite today's recovery, Nifty failed to clear the 25,885 resistance. A decisive move above it could propel Nifty toward 26,000, while 25,570 remains a key immediate support level.

Source : Equity Bulls

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