The Nifty index experienced a volatile session during the monthly derivatives expiry, ultimately closing lower despite a recovery from intraday lows. Here's a breakdown of the day's market movements:

Market Performance

The Nifty managed to recover 140 points from its intraday lows but faced resistance at the 26,000 level. However, it maintained support above the 25,900 mark.

Top Performers and Decliners

Sector Performance

Technical Analysis

Analysts suggest that the Nifty is currently consolidating within a range of 25,700 to 26,100. A sustained move above 26,100 could potentially open up further upside towards the 26,400-26,500 levels.

Market Outlook

Investors and traders are now looking ahead to two key events:

1. The outcome of the US Federal Reserve's FOMC meeting
2. Domestic earnings announcements from companies including L&T, Coal India, and Varun Beverages

These events are likely to provide further direction to the market in the coming days.

Conclusion

The Nifty's performance reflects the ongoing volatility in the Indian stock market, particularly during derivatives expiry. While the index showed resilience by recovering from its lows, the inability to hold above the 26,000 mark suggests that traders remain cautious. As always, investors should keep a close eye on both domestic and global factors that could influence market movements in the near term.

The Nifty index continued its upward trajectory during the auspicious Muhurat trading session, marking its fifth consecutive day of gains. The benchmark index closed at 25,869.00, adding 25.00 points to its previous close. This positive close also marked the eighth straight Muhurat session where the index ended in the green.

Market Performance

During the session, the Nifty reached an intraday high of 25,934.00 before retracing some of its gains. However, it managed to hold above the key psychological level of 25,850.00. The market showed selective buying interest, particularly in large-cap stocks across banking, IT, and auto sectors.

Stock Movements

Out of the Nifty constituents, 25 stocks closed higher, with Cipla leading the gains. On the flip side, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, and HCLTech were among the top losers.

Sector-wise Performance

While banking, IT, and auto sectors saw buying interest, profit-booking was observed in metal and FMCG stocks, which limited the overall gains in the market.

Market Outlook

Analysts remain optimistic about the market's future performance. Vinit Bolinjkar of Ventura Securities has set a target of 27,600.00 for the Nifty in the next Samvat (Hindu New Year). The potential drivers for this upside, according to Bolinjkar, include:

1. Domestic consumption-led earnings revival
2. Continued fiscal support

LKP Securities has a more immediate outlook, expecting a short-term rally towards the 26,000.00-26,200.00 range, with support seen at 25,700.00.

As the Indian market enters a new Samvat, investors will be closely watching these levels and the factors that could influence market movements in the coming sessions.