View on Market Performance - Nifty Rises for Third Straight Day, Hits Highest Level Since July 9

Nifty continued its upward rally by adding 93 points or 0.37%, to close at 25423. Nifty has now risen 12 out of the last 14 sessions, recovering more than 1000 points from the recent swing low of 24404, registered on August 29, 2025.

Leading the charge within the Nifty pack today were Eternal, HDFC Life, and Sun Pharma. On the flip side, it proved to be a tough session for names like Coal India, Bajaj Finance, and Trent, which ended as the major losers. Cash market turnover on the NSE was lower by 3% compared to yesterday.

Sectoral performance was a mixed bag. Leading the advance were Pharma, Healthcare, and IT. However, on the flip side, Media, PSU Banks, Realty and OIL/Gas ended the day with mild losses.

The broader market indices continued their upward journey for the tenth day on the trot. The Nifty Midcap 100 Index gained 0.38%, and the Nifty Smallcap 100 Index rose 0.29%. Market breadth was positive for the fourth consecutive day, with advancing shares outnumbering declining ones, as reflected in a BSE advance-decline ratio of 1.10.

The Indian rupee broke its four-day winning streak, mirroring the weakness in regional currencies. Indian rupee depreciated by 31 paise against the greenback to close at 88.13 levels. The dollar rebounded sharply after the Fed’s 25-basis-point rate cut, especially as the ‘dot plot’ suggests two more cuts are on the table by late 2025.

Nifty is in continuation of an uptrend with immediate support placed near 25250, the previous swing high on the daily charts. On the higher side, 25550 and 25670 are the key resistances to watch out for.

Source: HDFC Securities – Prime End of the Day Summary, 18 Sept, 2025

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