The select PSU banks and FMCG stocks witnessed profit booking at higher levels.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, August 13, 2025:
After the volatile activity of the last 4 days, the market took a breather today. Nifty closed 130 points higher, while Sensex gained 300 points. Across sectors, intraday buying was seen in pharma, healthcare and Defense stocks, while select PSU banks and FMCG stocks witnessed profit booking at higher levels.
Technically, after an initial intraday corrective trend, the market reached 24660/80700 levels; however, it failed to sustain that level and closed marginally above the opening levels. The activity is indicating indecisiveness; however, the positive thing is that it closed above the 10-day EMA, which could pull the market towards the 20-day SMA, which is at 24800/81200. Support is present at 24500/80300, below which it could gradually decline to 24400/80000 or 24350/79800 levels. It is advised to trade as per the given levels.
According to Gaurav Garg, Lemonn Markets Desk; Indian equities advanced on Wednesday, buoyed by easing domestic retail inflation, positive global cues, and renewed hopes of a US Federal Reserve rate cut. At 2 p.m., the Sensex was up 413.09 points, or 0.51%, at 80,648.68, while the Nifty gained 161.15 points, or 0.66%, to 24,648.55. The rally was led by Apollo Hospitals, Hindalco, Hero MotoCorp, HDFC Life, and Kotak Mahindra Bank, which surged up to 6%. Retail inflation in India cooled to an eight-year low of 1.55% in July, well below the Reserve Bank’s comfort zone, thanks to subdued food prices, boosting investor sentiment and supporting a bullish market tone.
Global market momentum also contributed to the uptrend, with key Asian indices, including Japan’s Nikkei 225 and Hong Kong’s Hang Seng, posting gains, while Wall Street ended sharply higher on Tuesday. Investor optimism ahead of Friday’s scheduled Trump–Putin summit in Alaska, where the leaders are set to discuss the Russia–Ukraine conflict, further lifted sentiment. Adding to the cheer, US inflation data in line with expectations increased the likelihood of a September Fed rate cut to 94%, up from 86% a day earlier. On the technical side, analysts pointed to 24,560 as a key breakout level for Nifty, with sustained trade above it likely to rekindle the march toward the 25,000 mark, while 24,450 remains a crucial support.
