2 weeks Ago By Samannay Biswas
On Wednesday, Indian stock markets opened on a strong note, with the BSE Sensex climbing 607.17 points to 80,202.76 and the NSE Nifty advancing 173.
35 points to 24,340.60. The rally was fuelled by renewed hopes of a bilateral trade agreement between India and the United States, sustained foreign institutional investor (FII) buying, and supportive Reserve Bank of India (RBI) policies.
On Tuesday, the Nifty-50 index had ended at 24,167.25, registering a 0.17 per cent gain, while the Bank Nifty outperformed, surging 0.
62 per cent to 55,647.20. Realty and fast-moving consumer goods (FMCG) sectors led gains, but information technology (IT) and oil & gas indices weighed on sentiment.
Broader indices also closed with nearly half a per cent increase. Analysts are now eyeing key technical levels. "For the Nifty-50 index, 24,100 and 24,000 will act as key support zones, while 24,250–24,350 could serve as resistance levels.
A fall below 24,000 could alter the market mood," said Shrikant Chouhan, Head of Equity Research at Kotak Securities. Similarly, Hrishikesh Yedve, AVP – Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd.
, noted that “for the Bank Nifty, 56,000 will act as a stiff resistance, with 54,470 being a crucial support.” Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services Ltd., added, “We expect the gradual up-move to continue in the market on hopes of a bilateral trade agreement between India and the US, sustained FII buying, and supportive RBI policies.
Meanwhile, Q4 corporate earnings will continue to drive sectoral action.” Several major companies, including LTI Mindtree, TATA Consumer, Bajaj Housing Finance, and 360 One WAM, are scheduled to announce quarterly results today. On the stock recommendation front, Sumeet Bagadia of Choice Broking suggested two picks, while Ganesh Dongre of Anand Rathi and Shiju Koothupalakkal of Prabhudas Lilladher each proposed multiple stocks for the day.
Top recommendations include Mahindra & Mahindra Ltd, ITC Ltd, Hindustan Unilever Ltd, Biocon Ltd, HEG Ltd, Colgate Palmolive (India) Ltd, SJVN Ltd, and NHPC Ltd. While optimism remains intact, traders are advised to stay alert to key technical levels and ongoing global developments, especially ahead of central bank announcements and international economic data releases. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Budget 2025, Companies,Markets, Business Economy and around the world.
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