Nifty Holds 25,000 | Gold Hits ₹1.23 Lakh | RBL Bank Leads
Global Market Sentiment
Asian markets are trading in the green, and Dow Jones futures are mildly positive. Overall, the sentiment across global indices remains optimistic. However, a decisive bullish breakout in Nifty 50 will only be confirmed once it crosses the 25,200 mark. Until then, traders are advised to stay cautious and avoid overly aggressive long positions.
Market Performance Recap
On Wednesday, Nifty 50 slipped by 62 points, while Bank Nifty dropped 221 points. Despite this decline, both indices held crucial support levels — 25,000 for Nifty 50 and 56,000 for Bank Nifty.
Among the top gainers in the F&O segment, RBL Bank led the charts with a nearly 5% rally, followed by Titan (up 4.5%), NALCO, and IIFL Finance, both gaining around 3%.
On the downside, technology stocks took a hit, with the index down 5.5%, followed by UM (-4%), realty (-3.5%), and TGVN (-3%).
Commodities Update
Gold continues to shine, breaking another record by crossing ₹1,23,000 per 10 grams — just a day after breaching the ₹1,20,000 mark. Silver, too, has surged past ₹1.5 lakh per kilogram, driven by multiple factors including a weaker Indian rupee.
The rupee now trades close to ₹89 per U.S. dollar, compared to around ₹65 during the pandemic — a sharp depreciation that has increased asset valuations across sectors, from precious metals to real estate and equities.
Institutional Activity & Volatility
Foreign Institutional Investors (FIIs) bought shares worth ₹81 crore, while Domestic Institutional Investors (DIIs) purchased around ₹330 crore worth of equities. FIIs appear to have slowed down on their selling spree, signaling potential stabilization.
The India VIX (Volatility Index) rose slightly from 10.05 to 10.31, reflecting minor market uncertainty. Meanwhile, the Put-Call Ratio (PCR) cooled from 1.03 to 0.8, indicating a more balanced market setup.
IPO & Corporate Updates
Today marks the final day to subscribe to the LG Electronics IPO, which was already 3.32 times subscribed as of yesterday. Analysts expect the overall subscription to reach 25–30 times.
The Canara RBCO AMC IPO also opens today, which investors can evaluate based on its fundamentals.
Other notable corporate highlights:
- Senco Gold & Diamonds reported a 17.8% rise in H1 revenue, with 7.5% same-store sales growth.
- Prestige Estates posted a 50% surge in pre-sales, while total collections jumped 54%.
- Container Corporation of India (CONCOR) recorded a 10.5% rise in throughput, with domestic volumes up 16.6%, boosted by a tie-up with UltraTech Cement.
- GR Infraprojects received a ₹290 crore road project from the Jharkhand Highway Authority.
- Karuna Constructions secured a ₹144 crore order, pushing its total order book to over ₹23,200 crore.
- Lupin launched a new manufacturing facility in Florida, USA, following similar moves by other Indian pharma companies like Biocon — part of a broader trend toward U.S.-based production.
In block deals, Société Générale purchased 33.22 lakh shares of RBL Bank at ₹284 per share, which fueled the bank’s strong price action. Abacus also picked up 3.5 lakh shares of EFC.
Sector Watch
Railway stocks remain on investors’ radar, as the sector’s capex spending is up 56% year-on-year, hovering near record highs. While valuations appear fair, investors are advised to maintain a long-term horizon.
Key Takeaway
Despite mild volatility, no major negative news is weighing on the market. The overall tone remains constructive, with both institutional buying and sectoral resilience supporting near-term stability.
Disclaimer: This article is for informational purposes only. Investors should conduct their own research or consult financial experts before making investment decisions.
