Nifty rose for the fourth session in a row to close at eight months high

Nifty continued its upward journey for the fourth consecutive session to close at eight months high. On the first session of the week, Nifty ended the day with the gains of 100 points or 0.40% at 25103. Trading volumes on the NSE cash market, however, saw a slight dip, registering an 11% decrease compared to last Friday.

Jio Finance, Kotak Bank and Bajaj finance were amongst the major gainers on the Nifty, while major losers were Eternal, ICICI Bank and Titan.

The Nifty Midcap and Smallcap indices once again stole the spotlight, extending their outperformance relative to the benchmark. The Nifty Smallcap index continued its remarkable upward journey for the sixth day in a row, reaching a new five-month high. The Nifty Midcap 100 Index advanced by a robust 1.13%, while the Nifty Smallcap 100 Index surged by an even stronger 1.57%. Market breadth remained decisively positive for the fourth consecutive day, with advancing stocks significantly outpacing declining ones, as indicated by a BSE advancedecline ratio of 2.01, its highest level since May 14, 2025.

Except Nifty realty, all the sectors ended in the green. Among them, Nifty PSU Banks, IT, and Oil & Gas were the standout performers, showcasing strong buying interest.

Technically, by decisively breaking out from its consolidation range of 24,500-25,100, the Nifty has clearly re-entered a bullish momentum phase. The index now likely to extend this rise towards 25,307, a level derived from the 78.6% Fibonacci retracement of the previous price fall from 26,277 to 21,743. On the lower side, the immediate support level has now shifted upwards to 24,900.