Stock Market Today: Nifty May Open Higher; Bank Nifty Near Key 200-Day EMA Support

Indian markets are set for a cautious start to the last trading session of the week. Early cues show GIFT Nifty trading 41 points higher at 24,667, nearly 150 points above Thursday’s close of 24,500. However, mixed signals from global markets could keep traders on edge, as Asian indices are showing a slightly negative bias.

Nifty and Bank Nifty Outlook

Market experts say today’s opening will be crucial, with Nifty50 facing resistance near the 24,700–24,800 zone. On the downside, 24,200 remains the immediate support, while a breach could open room for another 300-point fall. Stronger support is placed around 23,500 levels, which many analysts consider a “value-buying zone.”

bank-niftytv_TheMarketTimes — image source trading view

Bank Nifty is under pressure, closing 630 points lower at 53,820 on Thursday. It is now hovering near its 200-day Exponential Moving Average (200-DEMA), placed at 53,500–53,800 levels. A breakdown below this support could trigger further weakness.

Top Gainers & Losers on Thursday

Gainers: Titan (+0.5%), Larsen & Toubro (slightly positive), Hero MotoCorp (sustaining above ₹5,000), and CESC India.
Losers: Sam Finance (-4%), HCL Tech (-3%), TCS (-2%), Power Grid (-1.8%).

Notably, Hero MotoCorp shares drew attention after the stock managed to sustain above the ₹5,000 mark. The auto sector also received a boost after the government proposed reducing GST on two-wheelers and select four-wheelers from 28% to 18%.

Precious Metals at Record Highs

Gold prices surged to a lifetime high of ₹1,20,000 per 10g, while silver traded near ₹1,17,000 per kg. Analysts expect further momentum in precious metals ahead of festive demand, with no signs of weakness on technical charts.

Institutional Activity

Foreign Institutional Investors (FIIs): Net sellers worth ₹3,857 crore.
Domestic Institutional Investors (DIIs): Net buyers worth ₹6,920 crore, helping cushion the market fall.

Meanwhile, the Volatility Index (VIX) hovered near 12, reflecting stability despite Thursday’s fall. The Put-Call Ratio rose from 0.72 to 0.86, indicating mild put writing activity.

Key Corporate & Sector Updates

Muthoot Finance infused ₹500 crore into Muthoot Money to strengthen its capital adequacy ratio.
IndiGo Airlines promoters sold a 1.3% stake, reducing holdings from 7.81%.
RBL Bank saw French financial major Société Générale acquire 31.49 lakh shares worth ₹79 crore at ₹250.5 per share.
Pharma Sector: GST may be reduced from 12% to 5% on select medicines. However, weight-loss drugs could attract higher taxation.
CG Power announced a ₹7,600 crore semiconductor facility in Sanand, Gujarat.
NALCO approved a ₹30,000 crore capex plan to expand production capacity.
Logistics: Allcargo Logistics reported a 10% monthly rise in LCL (Less-than-Container Load) volumes, though yearly numbers were down 5%.

Expert View

Market analysts advise traders to stay cautious ahead of the weekend. With global uncertainties and mixed domestic cues, profit booking is expected at higher levels. “Nifty may remain volatile, but 23,500 remains a strong support zone. Investors should focus on auto stocks, two-wheeler makers, Maruti, and crude exploration companies,” experts said.