View on Market Performance for 28 Aug 2025 - Nifty Extends Fall on Monthly Expiry Day

It was yet another bearish session on Dalal Street despite strong global cues, as Nifty plunged 0.85% or 211 points to close at 24500. Nifty has registered a fall of 672 points in the last 5 trading sessions from the peak of 25153.  

In an otherwise weak market, a few names managed to stand out. Titan, Coal India, and Hero MotoCorp led the charge and ended the day as major gainers. On the flip side, it proved to be a tough session for names like Shriram Finance, HCL Tech, and Power Grid, which ended as the major losers within the Nifty pack. On the day of the monthly expiry, trading volumes in the NSE cash market were in line with the average volumes seen throughout the month of August.  

Following a five-day streak of depreciation, the Indian Rupee witnessed a pullback rally, gaining 5 paise against the U.S. Dollar. This reversal was backed by a weakening greenback and renewed expectations of softer crude oil prices, providing some relief for the domestic currency.  

The negative sentiment was pervasive across sectors. With the sole exception of Nifty Consumer Durables, all other sectoral indices ended the day in the red. Among them, Nifty IT, Realty, and Banking ended as the major losers, indicating a broad-based selling pressure across a wide range of market segments.  

The pain was more acute in the broader market today, with both the Nifty Midcap and Smallcap indices continuing their underperformance. The Nifty Midcap 100 Index plunged 1.45%, while the Nifty Smallcap Index plummeted by over 1.45%. Market breadth remained decidedly negative for the fourth day on the trot, with declining shares sharply outnumbering advancing ones, as indicated by an advanced decline ratio on the BSE of 0.55.  

After today’s fall, Nifty is now placed below its 20,50 and 100 DEMA, signaling a weak trend on positional charts. Immediate Supports for the Nifty are now seen at 24337 and 24266, where the previous swing low and 200 DEMA are placed, respectively. On the upside, 24,700 is expected to offer immediate resistance for the Nifty. 

Source: HDFC Securities Prime Daily, 28 August 2025 

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