🏁 Market Close & Index Levels
Markets ended strongly today as buyers returned to banking and IT names.
India’s benchmarks extended their winning streak, and the psychological 25,000 mark on Nifty was reclaimed.
Nifty 50: closed at 25,077.65, up ~183.40 points (0.74 %)
Sensex: surged ~583 points (0.72 %) to 81,790.12
Bank Nifty: gained ~515 points (0.93 %) to cross 56,000 mark
The rally was broad-based, led by financials and IT, with midcaps also participating.
📈 Top Gainers & Top Losers
✅ Top Gainers
1.Tech Mahindra: outperformed on strong intra-day momentum.
2.Kotak Mahindra Bank,
3.HDFC Bank: climbed on strong loan growth updates.
4.Bajaj Finance: rallied after disclosing ~24 % YoY jump in AUM.
❌ Top Losers
1.Tata Steel: declined ~1.88% and underperformed despite the broader rally.
2.IndusInd Bank: slid ~1.10%, lagging peers on weaker cues.
3.ICICI Bank: modest decline despite overall bullish trend.
These gainers and losers reflect strong rotation into financials/IT and profit booking in select cyclicals.
🏦 Sector Movement & Themes
Leaders: Banking / Financials — strong momentum on loan growth optimism.
IT / Technology — saw a strong rebound, with Nifty IT up ~2.28 %.
Tiresome / Lagging: Some industrial / base metals names fell (Tata Steel).
Auto, heavy cyclicals had mixed performance.
The market breadth skewed positive: midcaps were up ~0.9%, smallcaps held flat/slight negative.
⚡ Volatility (VIX) & Sentiment
India VIX rose (i.e. implied volatility increased), reflecting that traders expect sharper moves ahead.
This uptick in VIX suggests that despite the rally, participants are cautious and hedging for possible reversals.
VIX closed at~10.19 , +1.29%
🧭 Support & Resistance Levels
Given today’s action and technical structure, here are the levels to watch:
Nifty 50
Support: ~ 24,700 – 24,900
Resistance: ~ 25,200 – 25,400
Bank Nifty
Support: ~ 55,500 – 55,800
Resistance: ~ 56,500 – 57,000
Sensex
Support: ~ 80,500 – 81,000
Resistance: ~ 82,500
If Nifty holds above ~25,000 with strength and volume, further upside is possible.
A slip below ~24,700 may invite retracement.
🌟 Stock of the Day
Bajaj Finance emerges as Stock of the Day.
It delivered a strong AUM growth update (24% YoY), which fueled buying interest, and it performed well in the rally.
Keep an eye on how it behaves around its resistance and whether it can sustain momentum.
📊 FII & DII / Flow Data
While detailed cash segment data is still getting reported, the prevailing pattern remains: Foreign Institutional Investors (FIIs) are cautious, and Domestic Institutional Investors (DIIs) are absorbing flows to prop up markets.
FIIs Net Sellers in Cash market ~ 313.77 Crores
DIIs Net Strong Buyers in Cash market~ 5036.39 Crores
🏢 IPO & Market News
The Tata Capital IPO opened today. It’s among the largest NBFC offerings (₹15,512 crore).
KVS Castings is debuting in the SME space. GMP is flat (₹0), indicating tempered listing expectations.
Lenskart got regulatory approval for IPO — first exclusive eyewear company to go public in India.
These IPOs will be closely watched, as their subscription and listing performance can impact sentiment in the small/midcap space.
📈 Trade Ideas:
Short-Term & Long-Term Picks
Short-Term / Swing Plays:
Ride momentum in Banking / Financials — names like Kotak, HDFC, Bajaj Finance.
Consider IT / Technology names which are showing strong reversal strength (e.g. Tech Mahindra).
IPO stocks (like KVS Castings) may have volatile swings — trade with strict risk management.
Long-Term Ideas:
Tata Capital (post-IPO), given its scale and backing. Quality large-cap financials & IT names that recovered well today.
Stocks with consistent earnings growth, strong balance sheets, and capital allocation discipline.
✅ Final Thoughts
October 6 marked a confident rebound for Indian markets.
Nifty reclaiming 25,000 is psychologically powerful.
The rally was led by banking and IT, supported by positive corporate updates. But the increase in VIX shows markets are still wary.
For the next sessions, watch whether Nifty can hold above 25,000 convincingly, whether FIIs join the party, and whether tech/financial strength can broaden.
Use today’s strength to pick up quality names, but manage exposure cautiously.
More details 👇