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Bank Nifty Hits Record High as Nifty Closes Near Day’s Peak

Indian equity markets ended the session on a strong note, extending gains after a firm opening. The Nifty opened at 26,155, slipped to an early low of 26,118 in the opening minutes, and thereafter witnessed steady buying interest, scaling an intraday high of 26,314. The index Traded near the day’s high, reflecting sustained positive momentum through the session. Market breadth remained supportive, with 38 stocks advancing, 12 declining, and 1 remaining unchanged in the Nifty pack. The highlight of the day was the Bank Nifty, which surged to a fresh all-time high of 60,152.35, driven by continued strength in banking pack.

Sectorally, the auto pack gained traction on the back of encouraging auto sales numbers. In contrast, the FMCG sector remained under pressure, with ITC slipping nearly 4%, weighing on overall FMCG performance. Meanwhile, the Indian rupee weakened past the 90 mark against the US dollar during todays session . On the derivatives front, a sharp rise in open interest was seen in stocks such as WAAREEENER, BOSCHLTD, SWIGGY, ITC, BAJAJHLDNG indicating heightened trading activity. In the options market, the highest call open interest was observed at the 26,300 and 26,500 strikes, while significant put open interest was concentrated at 26,200 and 26,300. The Put-Call Ratio (PCR) stood elevated at 1.79. Overall, the broader sentiment remained positive, supported by banking strength and firm market breadth.

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