Stock market today: Gift Nifty up 67 pts; key levels for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 66.80 points, or 0.27 per cent, up at 24,914.50, hinting at a positive start for the domestic market on Monday.
- Sep 8, 2025,
- Updated Sep 8, 2025 8:08 AM IST
Indian benchmark indices are likely to open on a positive note on Monday tracking the positive global cues, after dismal US labour data heightened the expectations of a Federal Reserve rate cut this month, while the Indian government's tax cuts also buoyed sentiment. Lower interest rates in the US make emerging markets such as India attractive for foreign investors.
Nifty futures on the NSE International Exchange traded 66.80 points, or 0.27 per cent, up at 24,914.50, hinting at a positive start for the domestic market on Monday. Asian stocks rose on Monday after dismal US labour data sealed the case for rate cuts this month. Nikkei surged more than 1.8 per cent, while KOSPI and Hang Seng were up nearly one-third per cent each.
While external headwinds from global trade uncertainties and tariff hikes remain a key risk, the combination of a simplified GST framework and positive domestic macros would underpin market momentum in the near term, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
US stocks ended slightly lower on Friday as investors weighed economic worries against optimism over interest rate cuts by the Federal Reserve after data showed job growth weakened sharply in August. The Dow Jones Industrial Average fell 0.48 per cent, to 45,400.86, the S&P 500 lost 0.32 per cent to 6,481.50 and the Nasdaq Composite dropped 0.03 per cent to 21,700.39.
The US dollar was nursing losses after tumbling on a weak US jobs report that cemented expectations for a Federal Reserve rate cut this month. The dollar index steadied at 97.88, after sliding more than 0.5 per cent on Friday.
Oil prices climbed on Monday in early trade after OPEC+ agreed over the weekend to raise output at a slower pace from October on expectations of weaker global demand. Brent crude gained 0.5 per cent to $65.84 a barrel, while US West Texas Intermediate crude rose 0.5 per cent, to $62.17 a barrel. Elsewhere, gold prices were at $3,588 per ounce, just shy of the $3,600 milestone.
US data releases—including consumer inflation expectations, PPI, CPI, jobless claims, and consumer sentiment—will be critical in shaping Fed policy expectations and influencing flows, said Ajit Mishra, SVP of Research at Religare Broking. "Additionally, any updates on the India-U.S. trade deal could provide further support to market sentiment," he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,304.91 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 1,821.23 crore on a net-net basis. FIIs have pulled out Rs 12,257 crore from India equities in the first week of September 2025 as per NSDL data.
Valuation concerns and global geopolitical uncertainties have prolonged the selling pressure in Indian equities, said Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities. "Sentiment has been weighed down by factors such as US–India trade tensions, weak corporate earnings, a depreciating rupee, and the possibility of a rate cut by the Federal Reserve" he said.
Nifty & Sensex outlook
Technically, 24,500/80,400 remains a strong support zone for short-term traders. As long as the market trades above this level, the bullish setup remains intact. On the higher side, the 50-day SMA or 25,000/82,000 would act as a crucial resistance zone for traders, said Amol Athawale, VP of Technical Research at Kotak Securities.
"A successful breakout above 25,000/82,000 could push the market towards 25,200/82,600. Conversely, below 24,500/80,400, market sentiment could change. If the index falls below this level, it is likely to retest 24,350/79,900. Further downside may continue, potentially dragging the index to the 200-day SMA or 24,100/79,400," he said,
Nifty50 faces a key resistance zone at 24,900–25,000. A decisive breakout above this range could trigger a move toward 25,250. On the downside, immediate support is seen at 24,550, while 24,300 remains a stronger base, defended over the last two weeks, said Puneet Singhania, Director at Master Trust Group, suggesting a 'buy on dips' approach near support zones.
Nifty Bank outlook
Nifty Bank is expected to remain range-bound between 53,500 and 55,000, suggesting a consolidation phase before any directional breakout in the near term. On the upside, the 54,800–55,000 zone remains a significant supply zone, marked by the confluence of the prior breakdown area and the 100-day EMA, Bajaj Broking.
"On the downside, immediate support is placed at 53,500–53,300, which coincides with the 200-day EMA and the swing low of May 2025. A breakdown below this support cluster could trigger a further leg of downside towards the 52,500–52,000 zone, which is seen as the next major demand area," it said.
Nifty Bank formed a red candle with a long lower shadow indicating buying interest at lower levels. On the downside, 200-DEMA as well as the low of the bullish engulfing candle placed near 53,560, said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates. "As long as the Bank Nifty sustains above this level, a buy-on-dips strategy is recommended."
Indian benchmark indices are likely to open on a positive note on Monday tracking the positive global cues, after dismal US labour data heightened the expectations of a Federal Reserve rate cut this month, while the Indian government's tax cuts also buoyed sentiment. Lower interest rates in the US make emerging markets such as India attractive for foreign investors.
Nifty futures on the NSE International Exchange traded 66.80 points, or 0.27 per cent, up at 24,914.50, hinting at a positive start for the domestic market on Monday. Asian stocks rose on Monday after dismal US labour data sealed the case for rate cuts this month. Nikkei surged more than 1.8 per cent, while KOSPI and Hang Seng were up nearly one-third per cent each.
While external headwinds from global trade uncertainties and tariff hikes remain a key risk, the combination of a simplified GST framework and positive domestic macros would underpin market momentum in the near term, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
US stocks ended slightly lower on Friday as investors weighed economic worries against optimism over interest rate cuts by the Federal Reserve after data showed job growth weakened sharply in August. The Dow Jones Industrial Average fell 0.48 per cent, to 45,400.86, the S&P 500 lost 0.32 per cent to 6,481.50 and the Nasdaq Composite dropped 0.03 per cent to 21,700.39.
The US dollar was nursing losses after tumbling on a weak US jobs report that cemented expectations for a Federal Reserve rate cut this month. The dollar index steadied at 97.88, after sliding more than 0.5 per cent on Friday.
Oil prices climbed on Monday in early trade after OPEC+ agreed over the weekend to raise output at a slower pace from October on expectations of weaker global demand. Brent crude gained 0.5 per cent to $65.84 a barrel, while US West Texas Intermediate crude rose 0.5 per cent, to $62.17 a barrel. Elsewhere, gold prices were at $3,588 per ounce, just shy of the $3,600 milestone.
US data releases—including consumer inflation expectations, PPI, CPI, jobless claims, and consumer sentiment—will be critical in shaping Fed policy expectations and influencing flows, said Ajit Mishra, SVP of Research at Religare Broking. "Additionally, any updates on the India-U.S. trade deal could provide further support to market sentiment," he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,304.91 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 1,821.23 crore on a net-net basis. FIIs have pulled out Rs 12,257 crore from India equities in the first week of September 2025 as per NSDL data.
Valuation concerns and global geopolitical uncertainties have prolonged the selling pressure in Indian equities, said Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities. "Sentiment has been weighed down by factors such as US–India trade tensions, weak corporate earnings, a depreciating rupee, and the possibility of a rate cut by the Federal Reserve" he said.
Nifty & Sensex outlook
Technically, 24,500/80,400 remains a strong support zone for short-term traders. As long as the market trades above this level, the bullish setup remains intact. On the higher side, the 50-day SMA or 25,000/82,000 would act as a crucial resistance zone for traders, said Amol Athawale, VP of Technical Research at Kotak Securities.
"A successful breakout above 25,000/82,000 could push the market towards 25,200/82,600. Conversely, below 24,500/80,400, market sentiment could change. If the index falls below this level, it is likely to retest 24,350/79,900. Further downside may continue, potentially dragging the index to the 200-day SMA or 24,100/79,400," he said,
Nifty50 faces a key resistance zone at 24,900–25,000. A decisive breakout above this range could trigger a move toward 25,250. On the downside, immediate support is seen at 24,550, while 24,300 remains a stronger base, defended over the last two weeks, said Puneet Singhania, Director at Master Trust Group, suggesting a 'buy on dips' approach near support zones.
Nifty Bank outlook
Nifty Bank is expected to remain range-bound between 53,500 and 55,000, suggesting a consolidation phase before any directional breakout in the near term. On the upside, the 54,800–55,000 zone remains a significant supply zone, marked by the confluence of the prior breakdown area and the 100-day EMA, Bajaj Broking.
"On the downside, immediate support is placed at 53,500–53,300, which coincides with the 200-day EMA and the swing low of May 2025. A breakdown below this support cluster could trigger a further leg of downside towards the 52,500–52,000 zone, which is seen as the next major demand area," it said.
Nifty Bank formed a red candle with a long lower shadow indicating buying interest at lower levels. On the downside, 200-DEMA as well as the low of the bullish engulfing candle placed near 53,560, said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates. "As long as the Bank Nifty sustains above this level, a buy-on-dips strategy is recommended."