Weekly Update- 19th September 2026

NIFTY50

NIFTY50 at 23,346.40 (-0.22%) is showing a modest recovery attempt after the recent sharp decline, but the broader structure remains weak below the key moving-average resistance zone. The weekly chart continues to show a bearish structure with lower highs, while the daily chart is attempting to stabilize after testing the 23,100–23,200 region. Immediate support is at 23,100–23,000, followed by 22,850–22,600. Resistance is at 23,500–23,600, followed by 23,800–24,000. A sustained move above 23,600 can improve momentum toward 23,800–24,000, whereas a break below 23,100 could reopen downside toward 22,850–22,600. Overall, the setup remains bearish to neutral, with 23,600 as the key level to reclaim for a meaningful recovery.

BANKNIFTY

BANK NIFTY at 56,358.70 (-0.44%) is showing a stronger recovery attempt than NIFTY50, but the short-term structure remains under pressure below the 56,800–57,000 region. The weekly chart continues to hold a broader recovery structure from the 51,000–53,000 area, although the recent candles indicate consolidation and profit booking near the higher levels. The daily chart is recovering from the 55,700–55,800 support zone, with price still around the key moving-average area. Immediate support is at 55,800–55,600, followed by 55,400–55,000. Resistance is at 56,800–57,000, followed by 57,300–57,800. A sustained move above 57,000 can improve momentum toward 57,300–57,800, whereas a break below 55,600 could reopen downside toward 55,400–55,000. Overall, BANK NIFTY remains neutral to mildly bearish, with 57,000 as the key level to reclaim.

TOP GAINING SECTOR

NIFTY FMCG was top gainer sector for the week

Major gainers were:-

PATANJALI FOODS:- up by 8.02%

COLGATE:- up by 6.04%

DABUR:- up by 5.12%

RADICO KHAITAN:- up by 1.69%

TOP LOSING SECTOR

NIFTY INDIA DEFENCE was top losing sector for the week

Major losers were:-

SOLAR INDUSTRIES:- down by 17.05%

MIDHANI:- down by 9.94%

DATA PATTERNS:- down by 5.58%

PARAS DEFENCE:- down by 5.55%

IMPORTANT NEWS

• India’s forex reserves have climbed to a record $785.71 billion, supported by strong FCNR(B) inflows and RBI measures. However, the rupee remains under pressure from elevated crude prices and dollar demand. The combination of record reserves and currency weakness highlights the RBI’s ongoing challenge of managing external stability amid geopolitical risks.

• The proposed ₹30,000 crore NSE IPO is attracting strong institutional interest, with the anchor book reportedly crossing ₹6,000 crore. The listing could become one of India’s largest market transactions and significantly expand public ownership of the exchange, while creating a major liquidity event for existing NSE shareholders.

• India’s semiconductor ecosystem has attracted around ₹1.34 lakh crore of funding, although capital remains concentrated among fewer projects. Government incentives and rising domestic chip demand are accelerating investments in fabrication, packaging and related infrastructure. The development could strengthen India’s electronics supply chain and create opportunities for semiconductor and component manufacturers.

• India’s merchandise exports recorded their fastest growth in a decade in August, providing support to the external-growth outlook. The improvement comes despite global trade uncertainties and geopolitical disruptions. Stronger exports could benefit engineering, electronics, pharmaceuticals, chemicals and other manufacturing-oriented sectors, while helping offset pressure from elevated energy imports.

• The RBI absorbed around ₹2.9 trillion through two VRRR auctions as surplus banking-system liquidity remained high. The central bank is actively managing excess liquidity while maintaining financial-system stability. Banks and NBFCs could see funding costs and deposit pricing become increasingly important as the RBI works toward absorbing the durable liquidity surplus.