View on Market Performance - Nifty Broke Eight Session Winning Streak; Pharma and IT Drag

Nifty broke its session winning streak with a minor fall of 44 points or 0.18%, to close at 25069. The session was marked by consolidation, as the Nifty traded within the previous session’s range.

Leading the charge within the Nifty pack were Jio Finance, Bajaj Finance, and Eternal. On the flip side, it proved to be a tough session for names like Cipla, M&M, and Asian Paints, which ended as the major losers. On the volumes front, cash market turnover on the NSE was lower by 8% compared to Friday’s session.

Despite the benchmark’s minor dip, the broader market indices outperformed. The Nifty Midcap 100 Index gained 0.44%, and the Nifty Smallcap 100 Index surged 0.76%. Market breadth remained positive, with advancing shares outnumbering declining ones, reflected in a BSE advance-decline ratio of 1.25.

India’s merchandise trade deficit narrowed to $26.49 billion in August from $27.35 billion in July, as exports slowed. Exports in August decreased to $35.1 billion from $37.24 billion in July, while imports dipped to $61.59 billion from $64.59 billion in the previous month.

The Indian rupee continued its strength for the second day in a row, appreciating 7 paise against the greenback to close at 88.21 levels. The rupee’s rebound is primarily on the back of a fall in the US Dollar Index and the consistent rise in the domestic equity markets over the past two weeks.

Nifty is positioned above its 20, 50, 100, and 200 DEMA levels, which indicates a bullish trend across all time frames. Furthermore, higher top and higher bottom formation on the weekly line chart has confirmed the bullish reversal on the positional chart. Immediate support for the Nifty is now seen at 24,900, while 25,154 and 25,250 could offer near-term resistance.

Source: HDFC Securities – Prime End of the Day Summary, 15 Sept, 2025

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