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Informist, Monday, May 26, 2025

By Akash Mandal

MUMBAI – The benchmark indices are expected to continue their northward journey for the rest of the week as the sentiment remains strong in the near term, analysts said. Tuesday, they expect the Nifty 50 to move in a range of 24950-25150 points. Despite the near 400-point jump in the Nifty 50 over the past couple of sessions, analysts do not expect heavy selling for profit in the upcoming sessions.

"I expect a strong breakout above 25000 (points) tomorrow," Osho Krishan, chief manager of technical and derivative research at Angel One, said. "The overall volatility due to tariffs by the US has already been factored in, I feel, both on the positive and negative side," he said. "The market will now start focusing on the earnings expectations for the next session." Krishan expects the 50-stock index to reach the 25300-25350 levels by the end of the week.

Rupak De, senior technical analyst at LKP Securities, held similar views. "In the short term, the index is likely to remain strong with the potential to extend its gains towards the 25300–25350 range... any dips from here should be considered good buying opportunities," De said in a note.

Monday, the Nifty 50 ended at 25001.15 points, up 148 points or 0.6%. The BSE Sensex closed 455.37 points or 0.6% higher at 82176.45 points. Heavyweights such as Reliance Industries, Infosys, ICICI Bank, and Larsen & Toubro each ended around 1% higher. For Tuesday, analysts expect the Nifty 50 to find support at 24950-24850 points and face resistance at 25200-25250 points.

The market has rebounded since falling to a 52-week low of 21743.65 points in April. From that point, the index has risen 15%. Elara Global Markets Research said the current bull run is less frothy, more diversified, and structurally less risky than the runs seen previously. During the 16% correction seen from September till March, diverse sets of stocks had led the decline at various points of time, the brokerage said in a report Thursday.

"...the Top 10 laggards (during the correction), including Hero MotoCorp, Bajaj Auto, and Jio Financial, accounted for a mere 24% of the decline, signaling a broad, dispersed correction," Elara Global said in its report. "The 13% rebound since March was led by a different cohort: Reliance, ICICI Bank, Bharat Electronics." While the market is approaching earlier levels of valuation, the brokerage said valuations today are better dispersed with fewer extremes distorting the index. "With no signs of speculative excess and a more balanced leadership mix, the market appears structurally healthier, well-positioned for a low volatility melt-up, driven by value and quality, until fresh valuation froth emerges," the report said.

The March quarter earnings season is slowly drawing to a close with Bajaj Auto and Apollo Hospitals Enterprise being the only Nifty 50 constituent companies yet to report their results. Both will detail their earnings this week. On Tuesday, Info Edge (India), Bosch, and Life Insurance Corp. of India will report their earnings for the quarter. NMDC and Bharat Dynamics will also release their quarterly earnings during the day.  End

Edited by Rajeev Pai

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