Indian equities settled on a mixed-to-positive note on Friday, September 18, as softer crude prices and supportive Asian cues encouraged selective buying. The NSE Nifty 50 settled at 23,346.40, gaining 75.80 points, or 0.31%, while the BSE Sensex ended 19.63 points, or 0.03%, higher at 74,294.96.
Broader markets outperformed the benchmarks as the the Nifty Midcap 100 and Nifty Smallcap 100 indices closing higher by over 1% each. On the sectoral front, Nifty Realty and Nifty Metal gained more than 1% each, while Nifty IT fell over 1%.
The India VIX fell nearly 7% to 11.39, signalling a meaningful reduction in near-term anxiety and supporting the gradual stabilisation in domestic equities.
Market breadth turned positive on the NSE, with 2,388 stocks advancing out of 3,653 stocks traded, compared with 1,154 declines, while 111 stocks remained unchanged.
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Here are today’s top gainers on the Nifty
Here are today’s top gainers on the Sensex
Here are today’s top losers on the Nifty
Here are today’s top losers on the Sensex
On the technical front, the Nifty closed above 23,300 for the first time in the current recovery attempt. Sustaining above this level could extend the rebound towards 23,500–23,600, while support is placed at 23,200 and 23,000, according to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.
"The improving technical structure and softer crude prices could support further recovery next week, but confirmation will require the Nifty to sustain above 23,300 with broader market participation. A renewed rise in crude prices or global bond yields could once again limit the upside," said Radhakrishnan.
Disclosure: This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an investment advisor. Gaurav does not hold any financial interest in the company as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of the EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.
