July 30, 2025
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Market Analysis from HDFC Securities for 31 July2025
by Nandish Shah, Deputy Vice President, HDFC Securities
Nifty Stages Strong Recovery, Ended Three-Session Losing Streak
Breaking a three-session losing streak, the Nifty gained 140 points (0.57%) to close at 24821. After opening 71 points lower, the index immediately reversed course, staging a recovery of almost 250 points from its early morning low of 24598 to reach 24847.
Leading the charge among the Nifty’s top performers today were Jio Financial Services, Reliance Industries, and Asian Paints. Conversely, it was a tougher session for SBI Life, Axis Bank, and TCS, which ended as the major losers within the Nifty pack. Trading volumes on the NSE cash market were higher by 3% compared to yesterday.
A clear sign of the market’s improved sentiment today was the widespread recovery across sectors. After yesterday’s broad-based weakness, all sectoral indices ended with gains. Among them, Nifty Realty, Pharma, Healthcare, and Oil & Gas led the charge, ending with the highest gains.
However, Indian Rupee continued its downward trajectory, depreciating another 14 paise against the greenback to close at 86.81, reaching its weakest level since March 13, 2025. This depreciation was primarily driven by sustained selling by foreign funds, coupled with a recovery in the US Dollar and an increase in crude oil prices.
Broader market recovered sharply today, with both the Nifty Midcap 100 and Smallcap 100 indices outperforming the benchmark. The Nifty Midcap 100 Index rose 0.81%, while the Nifty Smallcap 100 Index gained 1.03%. Market breadth turned positive after eight trading sessions, where advancing shares outnumbered the declining ones. The advance-decline ratio on the BSE stood at 1.66, marking its highest level in more than a month.
The Nifty’s close near the day’s high resulted in a bullish “Engulfing” candlestick pattern on the daily chart. Consequently, today’s low of 24598 now establishes itself as a new support level for the Nifty. In the short term, 24882 and 25000 are seen as crucial hurdles on the upside.
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