Dalal Street Cheers! Nifty ends the week with a bang amid Optimism on India–US Trade talks.
NIFTY (+104, 25285)
Sensex (+329, 82501)
Bank Nifty (+418, 56610)
Much of this week’s rally was on backdrop of high-quality stocks — Indicating serious high conviction risk-on theme to prevail in the near-to-medium term.
Well, what began as a dovish RBI-driven rally has started to broaden out indicating, ‘Happy days are here again’!
For the day, Bank Nifty (+0.74%) and especially, PSU Bank Index (+1.64%) led the rally, with SBI (+2.22%) emerging as the top performer on the Nifty-50.
Maruti Suzuki (+1.88%), Axis Bank (+1.29%), NTPC (+0.88%), and Adani Ports (+1.12%) were the top notable gains.
Interestingly, Nifty Pharma (+1.37%) index zoomed, amid renewed optimism over India–US trade dialogue.
The Positive Catalyst: PM Narendra Modi speaking with U.S. President Donald Trump, reaffirming commitment toward advancing the India–U.S. trade pact — a development that shall strengthen investor sentiment at Dalal Street.
Earlier, Piyush Goyal emphasized that both nations are in continuous dialogue, expressing confidence that the bilateral trade deal could be finalized by November.
Bottom-line: Animal Spirits Unleashed — conviction bargain hunting buying drives Nifty towards this week’s high.
Adv-Dec 37—13
INDIA VIX 10.10 (-0.20%)
NIFTY PCR (14th OCT) 1.41
NIFTY PCR (28th OCT) 1.07
USD/INR Futures (Sep) (-0.13%, 88.76)
SECTOR GAINERS:
NIFTY REALTY (+1.67%)
NIFTY PSUBANKS (+1.67%)
NIFTY PHARMA (+1.29%)
SECTORS LOSERS
NIFTY METAL (-0.91%)
NIFTY IT (-0.05%)
TODAY’S MARKET RE-CAP:
1) Banking stocks were in spotlight as the Nifty Bank index jumped 0.74% and most importantly, is now racing towards its all-time-high at 57628.40 mark.
2) Nifty (+0.41%) opened on a firm footing and the positive takeaway was that the benchmark marched higher from strength to strength and ended on a bullish note.
Nifty gained for the 2nd consequtive week and is now way above its 21 DMA (25055), 50 DMA (24861) and its 100 DMA (24957).
Nifty’s 200 DMA at 24189 mark.
3) The market breadth (37:13) was in favour of the bulls.
4) Nifty Mid-cap (+1.33%) and Nifty Small-cap (+0.68%) indices ended with modest gains.
STOCKS IN SPOTLIGHT:
1) Cipla (+3.08%) was key top outperformer in Nifty Pharma space.
Natco Pharma shares jumped 3.51%.
2) JSW Steel eased 0.65% despite reporting a solid operational performance. The company’s consolidated steel production in Q2 FY26 stood at 7.90 million tonnes, marking a 17% YoY growth from 6.77 million tonnes in Q2 FY25.
3) For the day, Bank Nifty (+0.74%) and especially, PSU Bank Index (+1.64%) led the rally, with SBI (+2.22%) emerging as the top performer on the Nifty-50.
4) Maruti Suzuki (+1.88%), Axis Bank (+1.29%), NTPC (+0.88%), and Adani Ports (+1.12%) were the top notable gains.
BULLS OF THE DAY:
CIPLA (+3.63%)
SBIN (+2.22%)
MARUTI (+1.88%)
BAJAJ AUTO (+1.51%)
DRREDDY (+1.44%)
BEARS OF THE DAY:
TATASTEEL (-1.46%)
TCS (-1.10%)
HDFCLIFE (-0.74%)
JSWSTEEL (-0.63%)
TITAN (-0.53%)
OUR VIEW FOR MONDAY’S TRADE
5) Technically, the next goal post for Nifty is seen at 25670 mark ( High as on June 30th 2025).
Bottom-line: Happy days are here again at Dalal Street.
ALL ABOUT NIFTY:
Nifty (CMP: 25285)
Support: 25177/25000
Resistance: 25401/25670
Range: 25187-25372
21 DMA: 25055
50 DMA: 24861
200 DMA: 24189
Trend: Positive
BULLISH LOOKING STOCKS:
FEDERALBNK
NTPC
SAMMAANCAP
BULLISH LOOKING STOCKS (LONG TERM):
HBL ENGINEERING
L&T
BEL
BEARISH LOOKING STOCKS:
HDFCLIFE
TATAELXSI
MUTHOOTFIN
STOCKS TO AVOID:
IEX
HDFCAMC
KEI
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