Weekly Update- 05th September 2026

NIFTY50

NIFTY50 at 23,897.70 (-1.15%) down 277.95 points, is showing a modest recovery attempt after the recent decline from the 24,600 area. The weekly chart remains range-bound with a mildly bearish tone, while the daily chart is trying to stabilize around the 23,800 to 23,900 region. Immediate support is at 23,800 to 23,750, followed by 23,600 to 23,450. Resistance is at 24,000 to 24,150, followed by 24,300 to 24,600. A sustained move above 24,150 can improve momentum toward 24,300to 24,600, whereas a break below 23,750 would reopen downside toward 23,600 to 23,450. Overall, the setup remains neutral to mildly bearish until 24,150 is reclaimed.

BANKNIFTY

BANK NIFTY at 57,369.65 (-0.22%) down 126.65 points, is holding relatively better than NIFTY50, but the short-term structure remains range-bound below the 58,000 zone. The weekly chart continues to consolidate after the strong recovery from the 51,000 to 53,000 region, while the daily chart is holding around the 57,300 area. Immediate support is at 57,000 to 56,800, followed by 56,600to 56,300. Resistance is at 57,800 to 58,000, followed by 58,200 to 58,700. A decisive breakout above 58,000 would strengthen the bullish continuation setup toward 58,200 to 58,700, while a break below 56,800 could trigger consolidation toward 56,600 to 56,300. Overall, BANK NIFTY remains constructive but range-bound, with 56,800 as the key near-term support.

TOP GAINING SECTOR

NIFTY OIL & GAS was top gainer sector for the week

Major gainers were:-

CHENNAI PETRO:- up by 8.28%

IGL:- up by 7.07%

RELIANCE:- up by 2.72%

CASTROL:- up by 2.72%

TOP LOSING SECTOR

NIFTY AUTO was top losing sector for the week

Major losers were:-

HERO MOTOCORP:- down by 5.36%

EICHER MOTORS:- down by 5.32%

MARUTI SUZUKI:- down by 5.10%

TUBE INVESTMENT INDIA:- down by 5.00%

IMPORTANT NEWS

• SEBI has approved the proposed ₹30,000 crore IPO of the National Stock Exchange, potentially creating one of India's largest public-market listings. The IPO could significantly deepen India's capital markets and provide a major liquidity event. Brokerages, exchanges, financial intermediaries and existing NSE-linked stakeholders could see increased investor attention ahead of the listing.

• India's foreign-exchange reserves rose by $11.47 billion to a record $740.80 billion as of August 28. The stronger reserve position provides a substantial buffer against external shocks, supports currency stability and improves confidence amid global volatility. It also gives the RBI greater flexibility to manage rupee movements and liquidity conditions.

• The RBI absorbed ₹6.02 trillion through variable-rate reverse repo operations amid exceptionally high banking-system liquidity. While surplus liquidity supports credit availability and financial stability, aggressive absorption indicates the RBI is actively managing excess funds. Banks, NBFCs and money-market participants will remain sensitive to evolving liquidity and interest-rate conditions.

• India's services-sector activity strengthened in August, with the PMI rising to 54.1 as output and employment picked up. The improvement signals continued domestic economic momentum despite global uncertainties. Banks, consumer businesses, IT/services companies, travel and other domestic-demand-linked sectors could benefit if employment and business activity continue improving.

• Hindustan Unilever plans to increase capital expenditure to around 3% of turnover as it focuses on strengthening growth. Higher investment could support manufacturing capacity, distribution and product innovation. The move is positive for HUL's long-term competitiveness FMCG investment cycle.