Broader markets demonstrated strong resilience during mid-morning trading, with the BSE Sensex jumping 664.76 points (0.87%) to 77,168.36 and the Nifty 50 rising 198.40 points (0.83%) to 24,080.45. According to latest reports, this outperformance came supported by foreign fund inflows and buying in blue-chip stocks, with the BSE 150 MidCap Index jumping 1.40% and the BSE 250 SmallCap Index adding 1.46%. The market breadth remained strong with 2,777 shares rising and 1,036 shares falling on the BSE, while 236 shares remained unchanged. The total market capitalisation of BSE-listed companies had previously jumped by ₹1.55 lakh crore during the week, reflecting sustained investor interest in mid and small-cap segments.
The Nifty Midcap 50 and Smallcap 50 indices have achieved remarkable milestones, hitting their respective lifetime highs during Monday's trading session. As per Business Standard, the Nifty Midcap 50 closed at 18,089.55 levels, surpassing its last high of 18,059.50 levels hit on July 10, 2026, while the Nifty Smallcap 50 ended at a fresh closing high of 9,638.20, surpassing its previous high of 9,621.15 levels from July 10, 2026. Despite intraday volatility where the Nifty Smallcap 50 slipped to 9,517.25 levels and the Nifty Midcap 50 hit a low of 17,910.60 levels due to geopolitical developments in West Asia, both indices recovered by close to gain up to 0.2% each. Thus far in FY27, both midcap and smallcap indices have gained 21% and 29% respectively, significantly outperforming the Nifty 50's 8.5% rise during the same period.
Sectoral performance showed mixed trends during the week, with realty and consumer-focused sectors leading the gains. As reported by Moneycontrol, the Nifty Realty index emerged as the top performer, surging 5.37%, followed by the Nifty Consumer Durables index, which climbed 3.74%. The Nifty IT index gained 2.08% on optimism surrounding the earnings season, while the Nifty Metal index advanced 0.72%. On the downside, the Nifty Media index was the biggest laggard, falling 1.85%, followed by the Nifty FMCG index declining 1.57%. The Nifty India Defence and Nifty Healthcare indices slipped 0.93% and 0.63%, respectively. However, media shares staged a strong recovery with the Nifty Media index rising 1.81% to 1,478.80, bouncing back after declining over the past five trading sessions.
Several media and entertainment stocks led the morning rally, with Tips Music surging 5.27%, D B Corp jumping 4.35%, Saregama India rising 3.21%, Prime Focus gaining 3.18%, and Nazara Technologies advancing 3.06%. In the infrastructure sector, Rajesh Power Services rose 4.49% after the company secured a ₹653.12 crore turnkey contract from Paschim Gujarat Vij Company (PGVCL). IRB Infrastructure Developers added 1.80% after the company's IRB Group reported an approximately 28% year-on-year increase in toll revenue to ₹808 crore in June 2026. Other notable gainers included Hathway Cable & Datacom (up 1.85%) and PVR Inox (up 1.2%).
Foreign Institutional Investors (FIIs) turned net buyers during the week, purchasing equities worth ₹4,669.88 crore after remaining cautious in the previous week, as reported by Moneycontrol. Meanwhile, Domestic Institutional Investors (DIIs) continued to support the market, investing ₹8,275.62 crore in equities, although the pace of buying moderated compared with the previous week. This institutional support helped offset some of the pressure from benchmark index declines and provided sustained buying interest in broader market segments, contributing to the strong mid-morning performance.
According to Amol Athawale, VP Technical Research at Kotak Securities, the market found support near the 50-day SMA at 23,800/76,100 and bounced back sharply after a sharp correction. As reported by Moneycontrol, he believes the short-term market texture is volatile and non-directional, recommending level-based trading strategies. The 20-day SMA at 24,000/77,000 would act as a key support zone, with potential upside targets of 24,400-24,500/78,000-78,300. Sudeep Shah from SBI Securities noted that the immediate resistance for Nifty is placed in the 24,350-24,400 zone, with potential targets of 24,550 and 24,700 in the short term.
