Nifty rises to 24,650; CSB Bank shares down 8% after results

By Admin

14 Aug, 2025

The truncated trading week wraps up today with the Nifty 50 index on track for its first weekly gain in nearly two months. After enduring a six-week losing streak, the benchmark index has surged by over 200 points in the first three sessions, ahead of today’s weekly options expiry. This marks a welcome recovery, with market sentiment boosted despite global uncertainties.

As the June quarter earnings season draws to a close, a final round of corporate results is set to shape the day’s market movement. Key names like Muthoot Finance, Vishal Mega Mart, Jubilant Foodworks, BPCL, IRCTC, and Brigade Enterprises have already drawn investor attention, while Vodafone Idea, Inox Wind, Indian Oil Corporation, Ashok Leyland, and Glenmark Pharma will be reporting their results later today.

On Wednesday, the Nifty ended higher, yet 24,700 remains a critical resistance level, having been Tuesday’s peak. Market analysts suggest that breaching this point will be the first step toward further upside, with the 20-day moving average as the next target. To log a confirmed weekly gain, the Nifty will need to close above 24,363.

However, not all stocks shared in the positive momentum. CSB Bank saw its shares tumble by 8% following its quarterly earnings announcement, reflecting investor concerns over its performance metrics. This sharp decline underscored the volatility still present in specific sectors despite the broader market’s resilience.

As the week closes, investors remain watchful of earnings reactions and technical breakouts, with today’s final trading session holding the key to confirming a much-awaited turnaround for the Nifty.