Nifty Holds 24600 Amid Global Strength - HDFC Bank, TCS, L & T Lift Sentiment
Nifty 50 stays above 24600 with support from HDFC Bank and TCS. Global cues turn positive as US markets rally and futures trade firm. What is next for the Dalal Street?
Nifty 50 Outlook August 8, 2025
The Nifty 50 closed at 24596.15, gaining 21.95 points or 0.09 on August 7, showing surprising resilience despite mixed heavyweight moves. A tug of war between banking weakness and tech resilience shaped Thursday's trade, but strong US cues and a dip in volatility could further support markets today.
Let us break down the sentiment with insights into the top 8 Nifty 50 heavyweights and the global backdrop.
Top 8 Nifty 50 Stocks – Closing Snapshot August 7, 2025
| Rank | Stock | Weight in Nifty | Price | Change |
|---|---|---|---|---|
| 1 | HDFC Bank | 13.71 | 1995.40 | Up 10.10 or 0.51 |
| 2 | ICICI Bank | 9.41 | 1440.30 | Down 3.30 or 0.23 |
| 3 | Reliance | 8.39 | 1389.40 | Down 3.40 or 0.24 |
| 4 | Infosys | 4.84 | 1436.90 | Up 0.20 or 0.01 |
| 5 | Bharti Airtel | 4.65 | 1922.60 | Down 7.10 or 0.37 |
| 6 | L and T | 3.80 | 3641.60 | Up 13.20 or 0.36 |
| 7 | ITC | 3.42 | 413.60 | Up 1.60 or 0.39 |
| 8 | TCS | 2.76 | 3047.00 | Up 14.70 or 0.48 |
Key Observations
HDFC Bank, the heaviest stock, contributed the most to the Nifty's rise, adding over 10 points to its own price.
ICICI Bank and Reliance continued their corrective mode, capping upside momentum.
Tech majors Infosys and TCS were stable to positive, with TCS showing more strength.
L and T and ITC, two core economy and consumption plays, quietly supported the index with consistent gains.
Bharti Airtel saw modest profit booking.
Global Cues Boost Confidence
US Market Closing on August 7, 2025
| Index | Closing | Change |
|---|---|---|
| Dow Jones | 44193.12 | Up 81.38 or 0.18 |
| S and P 500 | 6345.08 | Up 45.89 or 0.73 |
| Nasdaq | 21169.42 | Up 252.87 or 1.21 |
| Small Cap 2000 | 2220.30 | Down 5.37 or 0.24 |
| VIX Index | 16.77 | Down 1.08 or 6.05 |
US Futures as of Early Asia Hours
| Index | Value | Change |
|---|---|---|
| US 30 | 44244.0 | Up 50.6 or 0.11 |
| US 500 | 6361.8 | Up 16.7 or 0.26 |
| US Tech 100 | 23376.9 | Up 61.9 or 0.27 |
| US 2000 | 2228.3 | Up 7.0 or 0.32 |
| S and P VIX | 17.53 | Down 0.17 or 0.96 |
Asian and ASEAN Market Cues
Fresh data from Asian and ASEAN markets further brightened the global picture ahead of Friday's trade.
| Index | Closing Value | Change |
|---|---|---|
| Nikkei 225 | 41959.50 | Up 900.35 or 2.19 |
| S and P ASX 200 | 8825.10 | Down 6.30 or 0.07 |
| Shanghai Composite | 3637.83 | Down 1.83 or 0.05 |
| SZSE Component | 11177.71 | Up 19.77 or 0.18 |
| China A50 | 13979.93 | Up 37.65 or 0.27 |
| PSEi Composite | 6358.21 | Down 6.48 or 0.10 |
| Hang Seng | 24880.00 | Down 201.63 or 0.80 |
| KOSPI | 3214.81 | Down 12.87 or 0.40 |
| IDX Composite | 7526.75 | Up 36.57 or 0.49 |
Highlights
The standout mover is the Nikkei 225, which jumped over 2 percent, signaling investor confidence in Japanese markets, possibly driven by earnings surprises or yen depreciation.
The Hang Seng Index was the biggest drag, slipping 0.80 percent, likely due to tech-led selling and ongoing regulatory pressures.
Mixed cues from China and Southeast Asia show some rotation of flows, but no signs of broad-based panic.
What It Means for Nifty Today, August 8, 2025
Technical View
Support Zone 24500 to 24420
Resistance Zone 24650 to 24720
Momentum Indicators
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RSI remains neutral but trending higher in the 55 to 58 range
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20-day and 50-day moving averages are sloping upward
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MACD shows a positive divergence, indicating a potential bullish trend
Sectoral Outlook
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Banking HDFC Bank remains strong, but ICICI and some PSU names may drag
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IT and Tech Tailwinds from Nasdaq may support Infosys and TCS
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Capital Goods L and T is building strength with strong order visibility
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FMCG and Consumption ITC is providing a defensive edge
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Telecom Bharti Airtel may see continued profit-booking
Outlook and Strategy
Today, the Nifty could open on a positive note, backed by strong US and Asian cues. However, intraday movements may remain volatile due to global macro events like upcoming US CPI data, possible Fed commentary, and crude oil volatility.
Strategy for Traders
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Use the Buy on Dips strategy near the 24500 support
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Look at strong performers like TCS Infosys, ITC, or L and T for short-term trades
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Keep trailing stop losses tight due to headline risk globally
Author’s Note
Despite global concerns ranging from tariffs to earnings surprises, Dalal Street has held firm above the 24500 mark. With a sharp rally in the Nikkei and healthy cues from the US and China, there is room for cautious optimism. Traders should remain stock-specific, avoid overleveraging, and respect technical zones as we move into the second week of August.
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