Nifty holds above 23,900 as smallcap index hits record high
On the BSE, 2,356 stocks were advancing against 1,316 declining, with 146 stocks hitting 52-week highs and 65 touching 52-week lows
At midday on Friday, September 4, 2026, financial markets were experiencing modest gains, with the Sensex rising 536 points and the Nifty 50 adding 67 points by 12.50 PM. Global cues and selective buying in financial and energy stocks supported these gains, though the Nifty remained below the crucial 24,000 level. The Sensex closed at 76,689.20, up 536.34 points or 0.70 percent, while the Nifty 50 stood at 23,940.10, up 66.65 points or 0.28 percent.
The Nifty Smallcap Index reached a new lifetime high in intraday trade, outpacing the broader market. On the BSE, 2,356 stocks advanced compared to 1,316 that declined, with 146 stocks hitting 52-week highs and 65 touching 52-week lows. SBI Life Insurance was the top Nifty gainer, increasing 2.26 percent to ₹1,753.80, followed by Reliance Industries (1.99 percent to ₹1,328.40) and HDFC Life Insurance (1.78 percent to ₹543).
Finance was the best-performing sectoral index, with insurance and energy leading. HCL Technologies (1.17 percent to ₹1,303.60) and Eicher Motors (1.15 percent to ₹7,601.50) were among the losers. Nifty Media saw the worst performance. Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, stated that Reliance Industries and HDFC Bank currently support the Nifty, with the 23,860-23,840 zone acting as crucial support and the 24,030-24,050 range as resistance.
Options data showed significant call writing at the 24,000 and 24,100 strikes, while the 23,900 put had substantial open interest. Nifty's Advance-Decline ratio was 33:17. Gold traded at $4,468 per ounce, up 0.6 percent, near record highs, while domestic markets still faced a stronger rupee and supportive global macro conditions.
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