Nifty extends losing streak to seven sessions; PSU Banks rally ahead of RBI policy

Market Overview - Benchmark indices ended a volatile session marginally lower, with the Nifty marking its seventh consecutive day of decline as investors exercised caution ahead of the Reserve Bank of India's monetary policy outcome due on October 1 [1] - The Sensex settled 61.52 points or 0.08 per cent lower at 80,364.94, while the Nifty 50 dipped by 19.80 points or 0.08 per cent to 24,634.90 [1] Sector Performance - Mixed sectoral performance was observed, with PSU Banks emerging as the top gainers, rallying 1.89 per cent, followed by Oil & Gas at 1.4 per cent, and energy and realty sectors gaining around 1 per cent each [3] - The midcap segment showed resilience, with Nifty Midcap 100 gaining 154.60 points or 0.27 per cent to 56,533.15, while Nifty Next 50 surged 690.15 points or 1.03 per cent to 67,835.10 [4] Market Breadth - Market breadth on the BSE remained negative, with 2,389 stocks declining against 1,822 advances out of 4,377 traded stocks [5] - Notably, 146 stocks hit their 52-week highs while 166 touched 52-week lows [5] Notable Gainers and Losers - IndusInd Bank led the Nifty gainers, surging 3.07 per cent to ₹734.60, followed by Titan Company which gained 2.70 per cent to ₹3,417.00 [6] - On the losing side, Maruti Suzuki India topped the decliners, falling 1.76 per cent to ₹16,000.00, followed by Axis Bank which declined 1.73 per cent to ₹1,134.00 [7] Derivatives Market - Significant open interest build-up was observed in Samman Cap, Dixon, Hindustan Petroleum, Nestle India, and Power Grid, indicating active positioning in these counters [9] - F&O data highlighted sustained pressure from the call side, with total call OI at 26.78 crore versus put OI at 16.57 crore [9] Currency and Commodity Insights - The rupee traded slightly weak near 88.73, down 0.06 per cent, with expectations of continued pressure due to gold price rises and trade deal uncertainties [11] - Gold prices surged to fresh lifetime highs, with MCX price rising ₹1,100 to ₹1,15,000, supported by expectations of another Fed rate cut [12]