Nifty's Uptrend at Risk: 26,100 Key Level Amid Volatility; Pharma, Metal Surge

Business
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Moneycontrol•06-01-2026, 14:35
Nifty's Uptrend at Risk: 26,100 Key Level Amid Volatility; Pharma, Metal Surge
- •Nifty declined on weekly expiry, pressured by Reliance, HDFC Bank, Kotak, ITC, opening gap-down below yesterday's low.
- •Bank Nifty showed strength, supported by ICICI Bank and SBI; small-caps outperformed for the second consecutive day.
- •Pharma and Metal sectors surged (Nifty Pharma +1.5%, Metal +1%), with Nalco as top gainer; Oil & Gas, FMCG declined.
- •Trent stock fell 7% due to weaker growth, expensive valuations, and margin pressure concerns.
- •Anuj Singhal: Nifty's uptrend ends if it slips below 26,100; Bank Nifty strong above 59,800.
Why It Matters: Nifty faces critical support at 26,100; market shows mixed trends with sector-specific strength.
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