Indian equity markets ended the week on a firm note, with the Nifty 50 rising 156.8 points, or 0.65%, to close at 24,353.55. According to reports from MarketSmith India, easing tensions in West Asia and a cooling India VIX, down about 5% to 17.21, lifted sentiment, pushing investors into a risk-on mode. Market breadth was strong, with an advance-decline ratio of 2.6:1 as 2,364 stocks rose against 894 declines on the NSE. As per Prabhudas Lilladher, the BSE Sensex ended 504 points higher at 78,493 and Bank Nifty index ended 479 points higher at 56,565. The Gift Nifty index opened at 24,500 and hit an intraday high of 24,503 before touching an intraday low of 24,488, currently trading at 24,460, up 40 points intraday.
Among sectors, the Nifty FMCG index led gains, climbing 2.65% on the back of a nearly 5% jump in Hindustan Unilever, driven by upbeat volume growth expectations. As reported by MarketSmith India, Nifty Oil & Gas and Metals also advanced more than 1% each, tracking stabilising global crude and commodity prices. IT was the only laggard, ending marginally lower amid cautious guidance from major players such as Wipro. Recent reports suggest the FMCG sector is likely to deliver a healthy performance in Q4FY26, supporting the positive momentum in this sector. According to Prabhudas Lilladher, the trend remained largely positive with most sectors ending in the green—led by FMCG, energy, and metals—while IT and pharma remained relatively muted. Broader markets continued to outperform, with mid-cap and small-cap indices advancing around 1.5% each, indicating sustained risk appetite.
Privi Speciality Chemicals Ltd is recommended as a buy at current price of ₹3,133 with a target price of ₹3,580 in two to three months and stop loss at ₹2,920. According to MarketSmith India, the company has strong position in aroma chemicals niche with long-term contracts, consistent revenue growth, and capacity expansion plans. Jindal Stainless Ltd is recommended at current price of ₹788 with target price of ₹890 in two to three months and stop loss at ₹750. The company is positioned as a market leader in stainless steel with strong capacity expansion pipeline. As per Prabhudas Lilladher, Vaishali Parekh recommends three intraday stocks to buy today: Jio Financial Services at ₹243.85 with target ₹255 and stop loss ₹238, NALCO at ₹438.75 with target ₹460 and stop loss ₹428, and KFin Technologies at ₹976 with target ₹1025 and stop loss ₹957.
The Nifty 50 is extending a short-term recovery after recent correction, with prices forming a sequence of higher lows. As reported by MarketSmith India, immediate resistance is seen in the 24,400–24,500 range with stronger hurdle near 24,800. On the downside, support is placed at 24,000–23,950, with a break below this zone potentially opening further weakness towards 23,500. The relative strength index (RSI) has climbed to around 57, indicating room for further upside without entering overbought territory. According to Prabhudas Lilladher, the Nifty 50 index is hovering near the important hurdle of the 24,300-24,400 band, which is very crucial and would need a decisive breach above this zone to establish conviction. On the downside, the near-term support would be positioned near the 23,800 level while the next major support would be near 23,200 as per the gap theory. The Bank Nifty index has been gripped within a tight range for the past 3 sessions, with resistance at the 56,800 level and support sustained near the 56,000 level.
