FINAL TRADE: Nifty holds on to 25,000 levels at close, broader markets underperform

Indian equities registered fresh closing highs in a highly volatile trade with the Nifty holding on to 25,000 levels at the close. In a topsy-turvy session, Nifty at the close ended with 0.24 per cent or 59.75 points higher at 25,010.9 points, while the Sensex ended with 0.15 per cent gains or 126.2 points at 81,867.55.

While global optimism around likely Fed rate cut in September boosted sentiment, barometers faced selling pressure on profit booking at higher levels in the mid-session trade.

Among the sectors, Energy was the top gainer while Media and Realty corrected the most. Broader markets underperformed the Frontline Index as Mid and Smallcaps corrected by 0.85% & 0.98% respectively.

From the Nifty pack, Power Grid Corporation of India, Coal India, ONGC, Dr. Reddy's Laboratories and Shriram emerged as the top gainers, while laggars included stocks like M&M, Hero MotoCorp, Tata Steel, SBI and Tata Motors.

Vinod Nair, Head of Research, Geojit Financial Services said that the broader market closed on a negative bias due to escalating geopolitical tensions in the Middle East leading to rising crude oil prices. Sector-wise, capital goods and realty were impacted by profit-booking coupled with auto sectors owing to below-expected monthly auto sales figures.

Aditya Gaggar Director of Progressive Shares on markets performance said, "Indian bourses began the August month on a strong note above the psychological barrier of 25,000. But, negative divergence in RSI pulled the Index lower to settle the trade at 25,010.90 with gains of 59.75 points." The Index has formed a Spinning Top candlestick pattern which represents indecisiveness where the downside seems to be protected at 24,930 while the immediate resistance is placed at 25,100, he added.

Meanwhile, European markets traded sharply lower, with German CAC index down over 1 per cent as a prospect of an increased likelihood of interest rate easing by the US Fed boosted global bonds.