Weekly Update- 12th September 2026

NIFTY50

NIFTY50 at 23,398.10 (-2.09%) has turned decisively weak after facing resistance around the 24,200 to 24,400 zone. The weekly chart shows a range-bound structure with a developing bearish bias, while the daily chart has broken below the 23,600 to 23,750 support area with a strong red candle. Immediate support is at 23,200 to 23,100, followed by 22,800 to 22,600. Resistance is at 23,600 to 23,750, followed by 24,000 to 24,200. A sustained move back above 23,750 can trigger a recovery toward 24,000 to 24,200, whereas a break below 23,100 can extend the downside toward 22,800 to 22,600. Overall, the setup has shifted to bearish in the near term, and 23,750 is now the key level to reclaim.

BANKNIFTY

BANK NIFTY at 56,606.55 (-1.33%) is also showing short-term weakness after failing repeatedly around the 57,800 to 58,000 resistance zone. The weekly chart remains broadly range-bound after the earlier recovery from the 51,000 to 53,000 region, but the latest weekly candle indicates renewed selling pressure. The daily chart has bounced from around 55,700 to 55,800, but the recovery remains vulnerable. Immediate support is at 56,000 to 55,700, followed by 55,400 to 55,000. Resistance is at 57,000–57,300, followed by 57,800 to 58,000. A sustained move above 57,300 can improve momentum toward 57,800 to 58,000, whereas a break below 55,700 could accelerate the decline toward 55,400 to 55,000. Overall, BANK NIFTY is neutral to mildly bearish, with 55,700 emerging as the key near-term support.

TOP GAINING SECTOR

NIFTY HEALTHCARE was top gainer sector for the week

Major gainers were:-

DR REDDY LABS:- up by 1.97%

MANKIND PHARMA:- up by 1.86%

LAURUSLABS:- up by 1.23%

ABBOTT INDIA:- up by 1.15%

TOP LOSING SECTOR

NIFTY REALTY was top losing sector for the week

Major losers were:-

GODREJ PROPERTIES:- down by 6.62%

AB REAL ESTATE:- down by 4.17%

LODHA DEVELOPERS:- down by 4.00%

PRESTIGE ESTATES:- down by 2.95%

IMPORTANT NEWS

• India’s forex reserves surged to a record $785.71 billion as of September 4, providing a strong external-sector cushion amid elevated crude prices and West Asia uncertainty. However, the rupee remains vulnerable to oil-driven dollar demand. Strong reserves and foreign inflows are positive for financial stability and reduce near-term external funding risks.

• Reliance Jio Platforms is preparing to begin investor outreach for what could become one of India’s largest IPOs. The listing could unlock significant value for Reliance Industries and deepen India’s telecom/digital capital-market ecosystem. It is also likely to attract substantial domestic and global institutional interest.

• The government has cleared defence acquisition proposals worth around ₹1.1 trillion, with 98% of procurement value earmarked for Indian companies. This is a major positive for domestic defence manufacturers, electronics suppliers, aerospace companies and component makers, supporting the government’s localization push and creating a strong multi-year order pipeline.

• Escalating West Asia tensions have pushed global crude prices sharply higher, raising concerns over India’s import bill, inflation and corporate margins. Oil marketing companies, airlines, paints, chemicals and other fuel-intensive sectors could face pressure, while upstream producers and companies with stronger pricing power may benefit.

• India’s August GST collections rose 14.8% to ₹1.99 trillion, signalling continued strength in domestic economic activity despite global and geopolitical headwinds. Strong tax collections improve government fiscal flexibility and support the broader growth narrative. Consumption-linked sectors, formalization and higher economic activity remain key positives for equities.