Taking Stock: Nifty extends fall for a fourth day but holds above 25,000, mid and smallcap indices end higher
Benchmark indices ended lower on July 14 after fourth day of selling but Nifty 50 managed to hold on to the 25,000 level and the broader markets closed with gains, with buying seen across the sectors barring IT shares.
The Nifty 50 index touched a low at 25,001.95 but last-hour buying helped trim intraday losses to close at 25,082.30, down 67.55 points or 0.27 percent and Sensex was down 247.01 points or 0.30 percent at 82,253.46. Broader indices outperformed the main indices with BSE Mid and Smallcap indices rising 0.5 percent each. Among sectors, IT index shed 1 percent, while pharma, consumer durables, media, realty, PSU bank rose 0.5-1 percent.
Also Read: Q1 FY26 life insurance preview: Product mix reset, digital shift among key trends to watch
Jio Financial, Bajaj Finance, Tech Mahindra, Wipro, Asian Paints were among major losers on the Nifty, while gainers were Eternal, Titan Company, IndusInd Bank, ONGC, SBI Life Insurance.
Read More: HDFC Life Q1 Preview: Double-digit APE growth likely, margins to expand as product mix shifts
In stock-specific action, Castrol India shares gained after Tribunal rules in favour of the company in Maharashtra tax dispute case, Ola Electric shares rallied more than 19 percent as Q1 losses narrows to Rs 428 crore, DMart shares fell after the company posted flat profit in Q1, and Aditya Birla Money shares declined 5 percent after Q1 profit falls 6% and NII down 10%.
Ajmera Realty shares ended down 1 percent after Q1 sales value sinks 65 percent to Rs 108 crore, BEML shares rose 4 percent on board's decision to consider stock split, VIP Industries shares rose 5 percent as promoters agreed to sell their 32% stake, Desco Infratech shares added 5 percent on winning orders worth Rs 9.53 crore, and Winsol Engineers shares gained 4 percent on orders win worth Rs 21.60 crore.
Nearly 180 stocks on the BSE touched their 52-week highs, including Anand Rathi, Piramal Enterprises, Laurus Labs, Vishal Mega Mart, Global Health, EID Parry, Ramco Cements, among others. Click to View More
Outlook for July 15
Aditya Gaggar Director of Progressive Shares
Pessimistic sentiment extended in the Indian equities as Nifty50 commenced the week on a tepid note and compounded its losses to test the psychological level of 25,000. In the last session, a sharp recovery helped the Index minimise its losses to conclude the trade at 25,082.30 with a loss of 67.55 points. Except for IT, all the other sectors settled trade in the green territory, with Realty and Media being the top performers. Buying interest was seen in the Broader markets as Mid and Smallcaps advanced by 0.70% & 1.02%, respectively and outperformed the Frontline Index.
On a daily chart, the Index has formed a bearish candle, but a potential hidden bullish divergence in the RSI, coupled with 50DMA support, provides hint of a trend reversal. The zone of 24,970-25,000 will serve as a strong support area, whereas upside seems to be restricted at 25,325.
Rupak De, Senior Technical Analyst at LKP Securities
The Nifty continues to decline as tariff tensions weigh on market sentiment. Additionally, participants are awaiting CPI data from both India and the US, which is further dampening overall sentiment.
Technically, the index slipped towards 25,000 on an intraday basis, which is very close to the 50-DMA. On the lower end, support is placed at 24,900–24,950. If this zone holds, a rally towards 25,350 looks possible. However, failure to sustain above 24,900 may trigger a deeper phase of correction.Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.