Stock Market close highlights: Sensex flat, Nifty at 25,212; PSBs outperform; India VIX down 2%

Stock Market LIVE Updates: Technical Outlook on Nifty

The Nifty index continues to encounter resistance near the 25,260 mark, which aligns with the 38.2% Fibonacci retracement level of the recent correction from 25,669. This signals ongoing indecision among investors at higher levels.

On the daily chart, the index remains firmly above the 50-day moving average (50DMA)—a positive sign that supports the short-term bullish trend.

As long as Nifty closes above the 25,000 level, the overall sentiment is expected to remain optimistic. A “buy on dips” strategy remains favorable under this setup.

On the upside, a decisive breakout above 25,260 could open the door for a sharp rally towards 25,500 and possibly higher levels.

Stock Market LIVE Updates: Market Expert View

Today’s session reflected notable resilience in the broader markets, with both midcap and smallcap indices closing with modest gains. The upbeat tone was largely driven by strong buying interest in PSU bank stocks, following reports that the government is considering fresh reforms in the sector.

Selective strength was also observed across key sectors, including realty, auto, FMCG, IT, and especially media and PSU banking, the latter gaining as much as 1.8%.

Among the top performers were Tech Mahindra, SBI, Nestle India, and M&M, all contributing to the market’s positive momentum. Notably, asset management companies (AMCs) experienced a sharp rally, rebounding strongly from their April lows.

The overall sentiment was further supported by:

• Positive domestic cues

• A benign inflation outlook

• And sustained optimism ahead of the upcoming corporate earnings season

These factors together helped maintain a bullish undercurrent in the market, despite global uncertainties.