View on Market Performance for July 18, 2025 - Nifty Extends Losing Streak to Three Weeks

Mumbai, July 18 – On the last session of the week, Nifty ended with the loss of 143 points or 0.57%, to close at 24968. Nifty ended in red for the third consecutive week by falling 0.72% week on week.

Wipro, Bajaj finance, and Tata steel showcased strength, emerging as the top performers on the Nifty. Conversely, Axis Bank, Shriram finance and BEL concluded the session as major losers. Trading volumes on the NSE cash market were slightly lower by 2% compared to yesterday.

The Indian Rupee becomes the weakest performing currency among its Asian counterparts, experiencing depreciation in five of the last six trading sessions. Indian rupee depreciated 0.08 paise against greenback to close at 86.15 levels. This sustained downturn is primarily attributable to lingering uncertainties surrounding a prospective trade agreement, higher global crude oil prices, and foreign institutional selling domestic equities.

The broader market also experienced profit booking, mirroring the benchmark indices. The Nifty Midcap 100 fell by 0.70%, while the Nifty Smallcap 100 declined by 0.82%. Market breadth remained negative, with declining stocks outnumbering advancing ones on the BSE, as indicated by an advance- decline ratio of 0.70.

Amongst the sectoral indices, Media, Metal, and IT managed to end up as major gainers, showcasing some resilience. However, Nifty Private banks, Consumer durables, and Financial services faced the steepest declines, contributing significantly to the overall market fall.

During the session, Nifty violated the previous swing low support of 25001 and closed below that. Nifty has also confirmed lower top and lower bottom formation on the daily chart. Nifty closed below its 50 days SMA for the first time since 11th April 2025. Short term trend of Nifty seems to have turned bearish with further supports seen at 24742 and 24500. On the higher side, 25255 would continue to act as a resistance.

Source – HDFC Securities, Prime End of the Summary, July 18 2025

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