Nifty Reclaims 24,800 as Losing Streak Ends
RBI Hold & Lower Inflation Boost Sentiment
Banks Lead; Media, Pharma, Realty Gain
Indian equity markets snapped an eight-day losing streak, with Nifty reclaiming 24,800, powered by a 700-point rally in Nifty Bank.
Sentiment improved after the RBI held the repo rate steady and revised inflation forecasts lower, while announcing banking reforms
including higher loan limits.
Index Close
| Index | Close | Change |
|---|---|---|
| Sensex | 80,983 | +715 pts |
| Nifty 50 | 24,836 | +225 pts |
| Nifty Midcap | — | +0.8% |
| Nifty Smallcap | — | +1.1% |
Note: Despite the rebound, retail sentiment on Stocktwits for Nifty 50 closed “bearish”.
Sector & Stock Moves
- Sectoral: Except PSU Banks, all indices ended higher. Media (+4%), Pharma (+1.2%), Realty (+1%) led.
- Media: Sun TV jumped 12%.
- Banks: Kotak Mahindra Bank, Axis Bank, ICICI Bank, HDFC Bank gained on RBI’s reforms push.
- Autos: Tata Motors ended 5%+ after demerger took effect; record date: October 14.
- Pharma: Pfizer India rose 3% after US President Donald Trump announced a deal with the American parent to offer key prescriptions at steep discounts via a new government-run online platform; Sun Pharma and Lupin also gained ~3%.
- NBFC: Shriram Finance up 5% after denying reports of MUFG exploring a 20% stake purchase worth Rs. 23,200 crore.
Stock Calls
TVS Supply Chain Solutions — by Ashok Kumar Aggarwal (Equity Charcha)
- Setup: New Iowa (USA) facility; RSI ranging 37–45 (daily/weekly/monthly).
- Accumulation: Rs. 124–Rs. 126
- Stop Loss (Close): Rs. 118
- Targets: Rs. 142 (short term), Rs. 161 (medium term)
Hindustan Zinc — by Mayank Singh Chandel
- Setup: Consolidating near gap resistance at Rs. 483.05; volumes rising.
- Buy Trigger: Close above Rs. 483.05
- Stop Loss: Rs. 463
- Target: Rs. 535
Nifty: What Next?
- Support: 24,540–24,600
- Resistance: 24,800–24,900
- Momentum: Above 9-day EMA ⇒ short-term bullish.
- Scenarios: Breakout above 24,800 → 24,900–25,100; weakness below 24,600 → towards 24,540.
Global Cues
Europe traded higher, while US stock futures pointed to a weak open as a healthcare and spending deadlock triggered a US government shutdown.
Gains / Positive
Risks / Watch levels
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