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On Thursday, Nifty opened higher at a record 25,611 but soon faced selling pressure, dropping to about 25,400. Broader markets have been sluggish in recent sessions.

The Nifty futures closed up 0.43% at 25,506 on Thursday. Maximum Call OI is at 26,000 and 25,500, while maximum Put OI is at 25,000 and 24,500. Options data indicates a trading range of 25,000 to 25,900, with immediate support at 25,350. Analyst Chandan Taparia notes the index must hold above 25,350 for upward momentum.

Indian markets hit a new high of 25,611.95 on Thursday but closed near 25,400 due to selling pressure. Bank Nifty outperformed, while AU Small Finance Bank showed bullish signs. Bharat Electronics Ltd experienced a bearish trend. Analysts provide trading recommendations based on derivative and technical data.

Ultimately, it is going to be 3% that is what the dot plots say but they are all over the place in terms of the median is 3, but it is all over the place. So, we will have to see. My sense is it could be around 3.5 and that is where we stand right now.

IIFL Finance Share Price: IIFL Finance shares surged 12.3% after the Reserve Bank of India lifted restrictions on its gold loan business. The company can now resume sanctioning, disbursing, and selling gold loans, following compliance with relevant laws. The restrictions were initially imposed due to deviations in gold purity assessment and breaches in loan-to-value ratios.

The transaction is not complete yet with pending customary conditions like receipt of RBI approval and consents from lenders and shareholders’ approval. EQT will also invest Rs. 500 crore in the IndoStar Home Finance Company upon or shortly after closing of this transaction and the board of IHFPL has granted an in-principle approval for such infusion.

Northern Arc is a diversified financial services platform established primarily to address the diverse retail credit needs of under-served households and businesses in India. Its business model spans various offerings, sectors, products, geographies, and borrower categories. As of March 2024, the company has facilitated over Rs 1.73 trillion in financing, reaching more than 10 crore people across India.

Sensex rose over 500 points and Nifty surpassed 25,500, with broader markets rallying as metal stocks gained significantly.

On September 19, three stocks from the large-cap pack appeared in the RSI Trending Up scan, according to the stockedge.com data.

The Nifty Bank index was trading 0.54 per cent up at 53321.75.