Sensex Surges 313 Points, Nifty Closes Above 25300 Mark on September 17

New Delhi: Benchmark indices ended higher on September 17, with the Nifty reclaiming the 25300 mark for the first time since July 11. At close, the Sensex gained 313.02 points or 0.38% to settle at 82,693.71, while the Nifty advanced 91.15 points or 0.36% to finish at 25,330.25. Both indices extended their early gains, marking the second consecutive session of positive momentum.

The broader market indices at the Bombay Stock Exchange also closed in the green. The BSE Mid-Cap index climbed nearly 0.2%, while the Small-Cap index outperformed with a gain of 0.5%.

Nifty Closes Above 25300 With Strong Market Breadth

Out of 30 Sensex stocks, 20 ended higher. Among the top gainers, SBI surged 3%, Bharat Electronics Ltd rose 2.4%, and Kotak Bank gained over 1.4%. On the other hand, Bajaj Finserv and Titan dropped almost 1% each, ITC slipped 0.9%, and Tata Steel dipped 0.4%.

At the sectoral level, 14 of 21 indices on the BSE closed positive. Capital Goods advanced nearly 1%, while Bankex and Industrials rose over 0.7% each. The IT index added 0.7%. In contrast, Metal declined 0.5%, Telecom shed 0.4%, and Utilities slipped 0.3%.

The overall market breadth was firmly positive, with 2,408 advancing stocks against 1,746 decliners and 174 unchanged. The Nifty sustained above its earlier swing high, supported by follow-up buying, while the volatility index declined by 10 points, reflecting growing investor confidence.

Technical View: Nifty Closes Above 25300 for Second Straight Session

On the technical charts, Nifty has negated its lower tops and lower bottoms formation after breaking out from a symmetrical triangle pattern. The index faced resistance around the 25,340–25,350 zone intraday but managed to close higher at 25,330.

From a trend perspective, Nifty is trading above its 20-day, 50-day, 100-day, and 200-day EMAs, which confirms strength in the rally. Momentum indicators like RSI above 60 and rising ADX with DI+ above DI– further validate the ongoing uptrend.

Immediate resistance lies in the 25,350–25,400 range. A decisive move above 25,500 could trigger an additional rally of 400–500 points. On the downside, 25,150–25,200 remains a key support zone, offering buying opportunities on dips.

Bank Nifty Extends Gains, Closes Above 55,400

Bank Nifty closed at 55,493, adding 346 points as it continued its pullback rally. The index has now posted higher highs for six sessions in a row, recovering from a recent corrective phase.

Technically, Bank Nifty is trading above its 20-day and 50-day EMAs, signaling improving strength. It also moved above the Bollinger Bands’ midline, suggesting a shift to a short-term positive trend. RSI nearing 60 and ADX showing DI+ dominance confirm bullish momentum.

Resistance for Bank Nifty is seen at 55,600–55,700. A breakout above this range could extend gains towards 56,200. On the downside, support is placed at 55,200–55,300, where buying is likely to emerge on dips.

Nifty Closes Above 25300 as Focus Shifts to Fed Policy

Analysts note that Nifty’s sustained close above 25,300 signals renewed strength, with broad-based buying across sectors. PSU Banks emerged as the best-performing sector with a 2.61% rise, followed by the Defence index, which gained nearly 2%.

However, Nifty Metal and FMCG ended in losses, with HDFC Life and Bajaj Finserv being the top laggards. Meanwhile, Tata Consumer and SBI were the best performers from the Nifty 50 pack.

Market sentiment also got a boost from encouraging cues in India–US trade talks. Going forward, investors will closely track the US Federal Reserve’s policy outcome, with expectations of a 25-basis point rate cut influencing global sentiment.

Disclaimer:
The information provided in this blog is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.

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