Weekly Update- 26th September 2026

NIFTY50

NIFTY50 at 23140.50 is showing a bounce from the key support zone, but the broader structure remains weak as price is trading below the key moving averages. The weekly chart shows a recent swing followed by sustained selling pressure, with price slipping below the short-term averages. Immediate support is at 23,000–22,800, followed by 22,600. Resistance is at 23,400–23,600. A sustained move above 23,400–23,600 can improve momentum, while a break below 23,000 can expose 22,800 and 22,600. Overall, the setup remains bearish to sideways, with 23,600 as the key level to reclaim for a meaningful recovery.

BANKNIFTY

BANK NIFTY at 55,580.40 is showing a recovery attempt after the recent decline, but the short-term structure remains weak below the 56,300–56,700 resistance zone. The weekly chart shows rejection from the 58,000 area, while the index remains below the key moving average. Immediate support is at 55,200–54,800, followed by 54,000. Resistance is at 56,300–56,700. Sustaining above 56,700 would improve the structure, whereas a break below 54,800 could extend weakness toward 54,000. Overall, BANK NIFTY remains bearish to sideways, with 56,700 as the key level to reclaim.

TOP GAINING SECTOR

NIFTY REALTY was top gainer sector for the week

Major gainers were:-

DLF:- up by 6.72%

ANANTRAJ:- up by 5.38%

PHOENIX MILLS:- up by 5.67%

OBEROI REALTY:- up by 4.12%

TOP LOSING SECTOR

NIFTY INDIA DIGITAL INDEX was top losing sector for the week

Major losers were:-

PB FINTECH:- down by 33.10%

PAYTM:- down by 9.51%

OFSS:- down by 9.47%

TATA COMM:- down by 6.38%

IMPORTANT NEWS

• Rising crude prices, Saudi pipeline disruptions and continuing tensions around the Strait of Hormuz are increasing concerns over India’s import bill and inflation. Higher energy costs could pressure corporate margins and the rupee, while oil-sensitive sectors may remain in focus amid heightened geopolitical uncertainty.

• HDFC Bank has proposed Deputy MD Kaizad Bharucha and Anup Bagchi, former ICICI Prudential Life CEO, as candidates for the bank’s next CEO. The succession process remains a major focus for investors as the current CEO’s term approaches its end, with the leadership transition being closely monitored.

• The NSE IPO is seeing strong institutional interest, with the anchor book reportedly crossing ₹6,000 crore. The listing process remains a major development for India’s capital markets and could also provide significant value realization for existing shareholders, while attracting greater institutional participation in the exchange.

• A consortium led by SBI is expected to provide significant debt financing to Vodafone Idea, with SBI reportedly preparing a sanction letter for its share of the ₹35,000-crore funding. The financing could support the telecom operator’s ongoing network expansion and capital requirements, keeping the company’s funding plans in focus.

• India’s trade deficit narrowed to $26.86 billion in August, helped by a sharp decline in gold imports. At the same time, merchandise exports recorded their fastest growth in a decade, providing an important signal for India’s external-sector outlook amid global trade uncertainty and continued pressure from elevated energy imports.