NIFTY50 reclaims 25,000, eyes record high ahead of monthly expiry

Markets extended the positive momentum after positive handover from Wall Street after the US Federal Reserve Chair Jerome Powell siganlled a rate cut in September. The NIFTY50 index reclaimed the 25,000 mark after sixteen sessions and formed a bullish candle on the daily chart.

Except for PSU Banks (-0.5%) and Media (-0.2%), all the major sectoral indices ended the day in the green. Metal (+2.1%) and Real-Estate (+1.7%) sectors advanced the most.

Buoyed by positive global cues, the NIFTY50 index filled the second bearish gap from 2 August and sustained its opening gains through-out the day. Closing above the pshyhcologically crucial 25,000 mark, index signals positive momentum. However, as it nears its previous all-time high (25,078), traders should be cautious of potential profit-booking. Immediate support for the index lies around 24,800 zone. If index falls below this level, it may enter a range-bound phase with increased volatility.

• Top gainer and loser in NIFTY50: HCL Technologies (+4.2%) and Apollo Hospitals (-1.1%)

• Broader markets ended the day in green and consolidated its gains at higher levels. The NIFTY50 Mid cap 100 index gained 0.6%, while the Small cap 100 index advanced 0.2%

• Top gainer and loser in NIFTY Midcap 100: PB Fintech (+7.2%) and One 97 Communications (-4.4%)

• Top gainer and loser in NIFTY Smallcap 100: Honasa Consumer (+7.9%) and Great Eastern Shipping (-3.0%)

Key highlights of the day

Top traded futures contracts

Top traded options contracts

4 trading insights from NIFTY 200🔍

📉Open=High (Bear power): Fsn E-Commerce (Nykaa), Supreme Industries, Icici Prudential, Adani Green and HDFC Life Insurance

📈Open=Low (Bull power): Colgate-Palmolive, Divi’s Laboratories, Info-Edge (Naukri), Max Financial Services, HDFC Bank and Biocon

🏗️Fresh 52 week-high: PB Fintech, HCL Technologies, Indian Hotels, Tech Mahindra, JSW Steel and Persistent Systems

⚠️Fresh 52-week-low: N/A

See you tomorrow!