Sensex, Nifty Surge on Expiry Day as Pharma and PSU Banks Drive Rally After Range-Bound Open
Benchmark Indices Close Strong as Buying Interest Lifts Markets
Benchmark indices recovered robustly following a mixed trading session on August 25, the monthly expiry day. The Nifty finished firmly above 24,300, while the Sensex saw significant gains amid late-day buying support. The broader market demonstrated resilience after an initial range-bound performance that saw the Nifty dip to an intraday low of 24,115.45.The Sensex closed up 286.98 points or 0.37 percent at 77,656.09. The Nifty gained 115.50 points or 0.48 percent, settling at 24,334.55. This positive close was partly attributed to easing crude oil prices and a firmer Indian rupee, which appreciated 33 paise to 95.41 per dollar from the previous 95.74.
Pharma and PSU Banks Lead Sectoral Rally Amid Mixed Global Cues
The session saw significant buying interest across several key sectors, with consumer durable, infra, media, pharma, and PSU banks all registering a 0.5 percent gain. Conversely, selling pressure was observed in the energy, metal, and private bank sectors.Among individual stocks, PVR Inox touched a 52-week high as its board is expected to consider a share buyback on August 31. Meanwhile, two specific corporate actions caused stock volatility. Hindustan Copper dropped 7% after the government announced an OFS sale of up to 6% stake.
Key Movers: 140 Stocks Hit 52-Week Highs, Nifty Leads Gains
A substantial number of stocks achieved historic highs, with over 140 stocks touching their 52-week high. Noteworthy gainers included Adani Enterprises, Interglobe Aviation, Max Healthcare, Apollo Hospitals, and Adani Ports. These gains underscored the strength observed in the healthcare and infrastructure space.While many rallied, some stocks faced profit booking or specific corporate challenges. Losers included Cipla, HDFC Life, Hindalco Industries, ONGC, and Coal India. Furthermore, Federal Bank and Jana Small Finance Bank slipped over 2% each amid news regarding a potential controlling stake acquisition by Federal Bank in Jana SFB.
Technical Outlook for August 26: Bulls Target Higher Levels
According to Shrikant Chouhan, Head Equity Research at Kotak Securities, the market’s recovery from weaker levels is technically promising. The indices managed a sharp bounce back from their daily low, recovering over 200/500 points on both charts. This pattern suggests a potential continuation of the uptrending momentum.For day traders, the 50-day Simple Moving Average (SMA) at 24,200 for Nifty and 77,300 for Sensex is identified as a critical support zone. If the market successfully trades above this level, institutional analysts suggest rallies could extend toward 24,500-24,550 or 78,000-78,200. Conversely, trading below these key levels would render the current uptrend vulnerable.
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