Where is the market headed?
As the week—and the month—draws to a close, markets remain calm. The Nifty continued to advance steadily, and overall, the market is in fine shape. There’s no major trigger or looming risk on the horizon—no major announcements or global conflicts that could shift sentiment—making this a relatively quiet period for the market.
What’s surprising many is that the Nifty is once again approaching its all-time high, and as always, this is being met with a sense of disbelief. But this is typical. When markets move toward record highs, skepticism often prevails, and that’s precisely when momentum tends to strengthen. It’s this pattern—of disbelief followed by acceleration—that often fuels rallies at or above previous highs.
Meanwhile, sector rotation is underway. The sectors that led earlier may lose steam, while others step into the spotlight. Stocks are rotating too, and this churn will likely continue. The key is to stay aligned with the current trend and maintain exposure to stocks that are leading the move forward.
Market Overview
Nifty gained 0.35% today, and over the last five sessions, it has climbed steadily from 25,000 to 25,600. Overall, it’s been a strong showing for the markets—a trend that suggests continued momentum.
Nifty Next 50
The Nifty Junior also posted a 0.61% gain, bringing it very close to its June highs—a sign of broad-based strength extending beyond just the large-cap names.
Nifty Mid and Small Cap
Mid caps rose 0.4%, continuing their gradual upward trend.
Small caps outperformed, climbing 0.81% to reach their highest level since January 2025, signalling renewed interest in the broader market.
Bank Nifty
Nifty Bank hit another new all-time high, closing 0.4% higher at 57,475, reinforcing its leadership in the ongoing market rally.
GOLD
Gold is showing signs of weakness, currently trading at ₹9,564 per gram. This aligns with the inverse correlation playing out in the markets—as equities rise, gold declines. Earlier, when markets were under pressure, gold had been on the rise. This relationship highlights gold’s role as a portfolio hedge, especially during uncertain phases. Despite the current dip, strong central bank demand continues to provide a cushion, limiting any sharp downside.
Advance Decline Ratio
The advance-decline ratio remained stable, with 308 advances and 191 declines.
Heat Maps
Several key stocks led today’s rally. ICICI Bank, Jio Financial, Reliance, Bharti Airtel, Power Grid, Adani Enterprises, and even Asian Paints—after a long time—were among the notable gainers. State Bank of India also rose 1%, adding to the strength in banking.
However, some counters like Dr. Reddy’s, Maruti, Wipro, ONGC, Axis Bank, and Eicher Motors saw limited participation or declined.
In the Nifty Next 50 space, Indigo touched new highs, with Vedanta, Shree Cement, HAL, Hyundai, Torrent Pharma, Adani Group stocks, GAIL, Chola Finance, and Bajaj Holdings also performing well. On the downside, Jindal Steel, LTIMindtree, Info Edge (Naukri), Britannia, and Lodha registered declines.
Sectoral Overview
Within the sectors, Oil & Gas led the gains with a 1.1% rise, followed by Energy stocks, which climbed 1%. Infrastructure saw a 0.9% uptick, while Defence made a comeback—up 0.86%, backed by news of fresh orders.
Commodities gained 0.75%, Public Sector Enterprises moved higher, and Manufacturing as a segment rose 0.6%. MNC stocks and Pharma also recorded gains of over 0.5%. Most other sectors saw marginal gains between 0% and 0.5%.
The only notable laggard was Real Estate, which declined 1.55%, standing out as the day’s weakest performer and FMCG stocks did not budge at all.
Sector of the Day
Nifty Oil & Gas Index
Oil & Gas remained the session’s standout pocket. Adani Total Gas surged 5.5 %, setting the tone, while HPCL (+ 4.5 %) extended its winning streak. City-gas distributors—Mahanagar Gas, Indraprastha Gas, and Gujarat State Petronet—joined the advance, and both HPCL and BPCL added fresh momentum to the space. Overall, the group’s broad-based strength underpinned the day’s leadership in sectoral gains.
Nifty Realty Index
Real estate stocks remained under pressure, with Phoenix Mills, Oberoi Realty, Prestige, Anand Raj, and Brigade Enterprises declining between 1.5% to 3.5%. Despite broader market gains, the real estate sector continues to stay in consolidation, showing little follow-through momentum in the current rally.
