Cables Sector Surges 5% as Nifty Eyes 24,779

Cables Sector Leads 5% Rally; Nifty Holds Above Key Moving Averages The cables sector jumped nearly 5% intraday on August 7, making it the single best-performing segment in a session where the Sensex gained 0.48% and Nifty effectively went nowhere. That divergence matters. When a sector moves five times the index in a flat tape, it's not noise — it's rotation with conviction. Nifty closed near 24,700, sitting above its 20-DMA at 24,130 and 50-DMA at 23,903. RSI printed at 58.7, and MACD remains in bullish territory. The math is simple: the index has room before it's overbought, but the 200-DMA at approximately 24,779 is now the wall. A clean close above that level would change the near-term setup meaningfully. KEI, Polycab, and Finolex: What's Driving the Move [KEI Industries](/stock/KEI) (NSE: KEI) and [Polycab India](/stock/POLYCAB) (NSE: POLYCAB) were among the session's loudest movers in the cables space. Finolex Cables (NSE: FINOLEX) and Havells India (NSE: HAVELLS) — which has cables exposure through its broader wiring and electrical segment — also saw notable buying interest. The sector's re-rating has a structural logic behind it. India's infrastructure capex cycle, sustained order flows from the power distribution segment, and rising residential electrification have given cables companies multi-quarter earnings visibility. KEI's order book has been consistently strong through FY25, and Polycab's export push adds a layer of revenue diversification that the market has started to price in more seriously. Stocks with FairStock Scores above 70 in this segment have outperformed the Nifty by a wide margin over the trailing six months — that spread is widening. Havells sits in a slightly different position. It's more of a consumer electricals play with cables as one division, so a pure cables rally tends to lift it less than it does KEI or Polycab. Investors shouldn't conflate the two exposures. What This Means for Portfolios For investors already holding c...