The drag came primarily from Realty, IT and Consumer durables which slipped 0.3% - 1.55%
Gaurav Garg,
Lemonn Markets Desk
Mumbai, June 27, 2025: “Indian equity benchmarks were largely flat in early trade on Friday, June 27, as profit booking in heavyweight financial stocks near record highs offset broader market strength supported by positive global cues.
The Nifty 50 inched up 0.35% to 25,637, while the Sensex rose 0.36% to 84,058. The indices continue to hover just under 3% below their all-time highs, with recent gains making valuations appear stretched to some investors. The Nifty's breakout above its recent consolidation zone signals growing optimism among traders, profit-taking is evident in select heavyweight stocks.
Sectoral performance was mixed, with 9 of 13 major sectors trading in the green. The drag came primarily from Realty, IT and Consumer durables which slipped 0.3% - 1.55%
Oil & Gas led sectoral gains, Reliance contributed the most. The broader market outperformed the benchmarks, with the Nifty Smallcap 100 and Midcap 100 rising 0.9% and 0.2%, respectively, as investor interest rotated into mid- and small-cap segments.
Market Outlook:
While Indian markets remain resilient, supported by easing geopolitical risks and strong global cues, stretched valuations near record highs are prompting selective profit booking. Sector rotation is likely to continue, with investors closely watching macroeconomic data, corporate earnings updates, and global central bank commentary for further direction."
Amol Athawale, VP-Technical Research, Kotak Securities, reports:
In the last week, the benchmark indices witnessed a promising uptrend rally. The Nifty ends 2 percent higher, while the Sensex gained 1650 points. Among sectors, Capital Market and Metal Indices outperformed, both gaining over 5 percent. Despite strong market sentiment, profit booking was observed in the Reality and Defense indices, with Reality down 1.80 percent and Defense shed nearly 1 percent. During the week, the market successfully cleared the crucial resistance zone of 25,300/82700, and post-breakout, it intensified its positive momentum. Technically, on weekly charts, it has formed a long bullish candle, which is largely positive. Additionally, it is maintaining an uptrend continuation pattern on daily and intraday charts and is currently trading comfortably above short-term averages, which is also positive. For trend-following traders, 25,500–25,300/83300-82700 would act as crucial retracement support zones. As long as the market remains above these levels, the uptrend is likely to continue on the higher side, with 25,850/84400 serving as the immediate resistance level for the bulls. Further upside could potentially lift the market up to 26,000/84800.
In the short term, the market texture appears bullish, but buying on dips and selling on rallies would be the ideal strategy. However, if the market falls below 25,300/82700, the uptrend could become vulnerable.
For Bank Nifty, a breakout formation on daily and weekly charts supports further uptrend from the current levels. In the short run, 57,000–56,700–56,500 would be key support zones, while 57,500–57,800–58,200 could serve as crucial resistance levels for traders.
