IGI Logo

Below the Market Commentary (closing) for 10th October 2025 by Bajaj Broking

Market Closing Commentary

Indian equity benchmarks extended their uptrend for the second straight session on October 10, with the Nifty crossing the 25,300mark intraday — its highest level since September 19th. After a muted start, the market maintained a positive bias through the session, enabling the Nifty to reclaim the 25,300 level, driven by broad-based buying across sectors, except metals. At close, the Sensex was up 328.72 points or 0.40 per cent at 82,500.82, and the Nifty was up 103.55 points or 0.41 per cent at 25,285.35. On a weekly basis, both the BSE Sensex and Nifty posted gains of 1.5 per cent each. The broader markets moved in tandem with the benchmarks, as the Midcap index advanced 0.46%, while the Small-cap index added 0.74%. All sectoral indices, except metals, ended in the green. Realty, healthcare, PSU Bank, pharma, and consumer durables indices outperformed, registering gains of over 1.5 per cent each, while FMCG, auto, and banking indices advanced between 0.4 and 0.8 per cent.

Nifty Outlook

Nifty on weekly chart has formed a sizable bull candle with a higher high and higher low signaling continuation of the up move. The index in the process closed above the short-term moving average and has retraced more than 80% of its previous decline ( 25448-24588). In the coming week, the index to maintain a positive bias and head higher towards 25,450 levels, being the confluence of the high of September 2025 and the trendline resistance joining the major highs of September 2024 and June 2025. A move above 25,450 will open further upside towards the June 2025 high of 25670 in the coming week. Stock specific action will remain in focus as we progress through the Q2FY26 earnings season. We believe dips in the coming week should be used as a buying opportunity. We have revised the support base higher towards 25,000-24,900 levels, being the confluence of the last week's low and the 20 & 50 days EMA.

Bank Nifty Outlook

Bank Nifty formed a sizable bull candle with a higher high and higher low and closed above Tuesday high signaling resumption of up move after two sessions of breather. Going ahead, index to maintain positive bias and head higher towards the all-time high of 57,300-57,600 in the coming week. On the downside support is placed at 55,500-55,000 levels being the confluence of the 20- & 50-days EMA and the 61.8% retracement of the last up move (54,227-56,502). We believe bias remain positive and dips should be used as a buying opportunity.

Above views are of the author and not of the website kindly read disclaimer