Stock Market Stages Strong Recovery - Nifty Gains 0.02% Sensex Gains 0.06%

Udaipur, July 13, 2026 | Stock Market Update Today: Indian benchmark indices opened with a gap-down but staged a strong recovery from their intraday lows, erasing early losses to end the session nearly unchanged. The rebound was driven by broad-based buying in Nifty IT and other heavyweight stocks, which helped the benchmark indices recover nearly 200 points from the day's low and close on a flat note. At close, the Nifty 50 gained 0.02% to settle at 24,211, while the Sensex edged up 0.06% to close at 77,616.

On the sectoral front, Nifty IT emerged as the top-performing sector, followed by Media and Consumer Durables, which also witnessed healthy buying interest. On the downside, Nifty Cement and FMCG remained the key laggards, witnessing mild profit booking during the session. The broader market traded largely flat, reflecting a consolidating its recent gains. The Nifty Midcap 100 index edged up 0.01%, while the Nifty Small-cap 100 index gained 0.03%.

Nifty Outlook

Nifty witnessed a strong rebound after a gap-down opening to recover more than 200 points from the day low to close on a flat note. The index formed a sizable bullish candle with a higher high and a lower low as buying demand emerged from the 20-day EMA, signalling a positive bias. We expect the index to extend consolidation in the range of 23,800-24,350.

In the coming session, bias remains positive and dips towards 24,100-24,150 should be used as a buying opportunity for up move towards the upper band of the range placed around 24,350 levels. In the short term a breakout above 24,350 will signal strength and resumption of up move towards 24,600 levels, being the high of April 2026, in the coming week. Short-term support is placed at 23,800-24,000 levels, being the confluence of the almost identical low of the last 4 weeks and 50 days EMA.

Bank Nifty Outlook

Bank Nifty formed a third consecutive bullish candlestick pattern which mostly remained contained inside previous session price range signaling buying demand at lower levels after a gap down opening as the index recovered 600 points from the day’s low to close near day’s high. Bank Nifty has been consolidating within the 56,500–58,500 range over the last four weeks, indicating a healthy pause after the previous up move.

On the upside, 58,700 (June's high) remains the immediate hurdle. A decisive close above this level would confirm a breakout from the ongoing consolidation and could trigger the next leg of the rally towards 59,300 and eventually 60,000 levels in the coming weeks. Failure to move above 58,700 will signal extension of last 4 weeks consolidation. On the downside, 57,400-57,500 is expected to act as the immediate support, coinciding with Thursday's gap-up zone and Monday’s low. The major support is placed at 56,500, where the 20-week and 50-week EMAs converge along with the previous week's low, making it a strong demand zone.