The Nifty’s journey on the penultimate day of Samvat 2080 was far from festive, as Wednesday’s session saw the index lose over 120 points, closing at the same level as Monday despite a two-day recovery rally. While the recent rally had been driven by Nifty Bank’s strength, its Wednesday underperformance left the Nifty struggling to sustain gains, marking a lackluster close to the session.

This dip comes after the Nifty has corrected by nearly 2,000 points from its record highs last month. Nonetheless, despite recent volatility, Samvat 2080 is poised to close with an impressive gain of over 25%, marking one of the most robust performances for the index in recent years. In a positive sign, the Nifty has posted higher lows for the past three trading sessions.

Newcomers Trent and Bharat Electronics Limited (BEL) have been standout performers on the Nifty, with Trent almost tripling and BEL more than doubling in value since their inclusion a month ago. Looking forward, the index finds immediate support at 24,300 ahead of Thursday’s monthly expiry session. With earnings season slowing down amid festivities, companies like L&T, Biocon, and Tata Power will still see some action following their post-market results on Wednesday.