Prime End of the Day Summary: 03 August 2026

Nifty Extends Winning Streak to Fourth Straight Session, Closes at five months high

Nifty extended its winning streak for a fourth consecutive session, rising 390 points to close at 23,774. The index opened 44 points higher and built on its gains in the first half, hitting an intraday high of 24,429 before profit booking emerged in the latter part of the session. Notably, the index experienced a massive 200-point surge during the closing auction session (CAS), driven by a greater-than 1% movement across 10 to 12 Nifty stocks. NSE cash market volumes fell 6% from the previous session.

Among Nifty 50 constituents, Grasim, TCS and IndiGo led the gainers, while Apollo Hospitals, Sun Pharma and Maruti were the key laggards.

Sectorally, the trend remained broadly positive, with all major sectoral indices closing in the green except Media. IT, private banks, and FMCG were the top performers.

Broader markets also firmed up alongside the benchmark, with both the Nifty Midcap 100 and Smallcap 100 advancing 1.2% and 1.3%, respectively. Market breadth was strong, with the BSE advance-decline ratio at 1.82, signaling continued buying interest in the midcap and smallcap space for a second straight day.

The Indian rupee strengthened in line with most Asian currencies, rising 4 paise to close at 95.35, supported by a decline in crude oil prices after U.S. President Donald Trump said fresh U.S.-Iran talks are set to begin on Monday. The domestic currency also benefited from sustained foreign inflows into both equity and debt markets. In addition, expectations that the Reserve Bank of India may reduce its net short forward position provided further support to the rupee.

During the session, the index crossed key resistance levels of 24,300 and 24,601, confirming the continuation of the bullish trend. With most medium-term technical indicators now positive, Nifty appears poised to test the next target of 24,776, derived from its 200-day SMA, followed by 25000. Immediate support has now moved higher to the 24,400–24,500 zone.