Prime End of the Day Summary: View on Market Performance 13 May 2026

Nifty snaps four-day losing streak, ends with minor gains

Nifty snapped its four-session losing streak, rising 33 points to close at 23,412. After opening 17 points lower, the index staged a sharp intraday recovery and hit a high of 23,582 in the first half of the session but gave back most of those gains in the second half as selling pressure returned. NSE cash market turnover fell 4% from the previous session.

Asian Paints, Adani Enterprises, and Tata Steel were the top gainers in the Nifty pack. On the other hand, Eicher Motors, M&M, and Infosys led the losers’ list.

Sector performance was mixed. Metals, consumer durables, and oil & gas posted the strongest gains, while IT, auto, and reality came under pressure and ended among the top laggards.

Broader markets also recovered along with the benchmarks. Nifty Midcap 100 gained 0.77%, while Nifty Smallcap 100 rose 0.31%. Market breadth improved meaningfully, with the BSE advance-decline ratio at 1.36, indicating renewed buying interest after the sharp profit booking seen over the last few sessions.

The Indian rupee weakened for a fourth straight session and closed at a record low as the US dollar continued its steady ascent. Despite the government’s move to raise gold and silver import duties to discourage purchases, the currency remained under pressure amid sustained foreign capital outflows.

Though Nifty witnessed pullback rally, technical setup remains unchanged. Nifty continues to trade below its 10-, 20, 50, 100, and 200-day DEMA, pointing to a broad bearish bias across timeframes. The former support near 23,800 is now likely to act as resistance on pullbacks, while immediate downside support is seen around 23,100, near the 61.8% Fibonacci retracement of the move from 22,182 to 24,601.