The Indian stock market closed lower on Tuesday following weak global cues and rising geopolitical concerns driven by renewed escalation in the US-Iran war. According to reports from Live Mint, the Nifty 50 index declined 86 points to close at 24,032, while the BSE Sensex lost 251 points to end at 77,017. The Bank Nifty index finished 331 points lower at 54,547. Sectorally, the trend was mixed with auto, pharma, and FMCG stocks showing resilience, while realty, banking, and financials edged lower. Broader markets remained relatively stable with midcap and smallcap indices showing marginal movement, indicating selective participation.
Following the de-escalation in the US-Iran war, the Gift Nifty live chart is signalling a positive start for the Indian stock market. As reported by Live Mint, the index opened upside at 24,221 and extended its morning gains, touching an intraday high of 24,324, signalling a big gap-up opening for the Indian stock market on Wednesday. By 7:35 AM, the index was trading around 24,290, as noted by Hariprasad K, SEBI-registered Research Analyst and Founder of Livelong Wealth. The positive momentum follows a strong close on Wall Street where the S&P 500 scaled fresh record highs, aided by easing crude oil prices and encouraging corporate earnings. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, noted that the Gift Nifty index is trading green, up around 200 points from yesterday's close of 24,109, indicating strong momentum for the upcoming session.
According to Vaishali Parekh's analysis reported by Live Mint, the Nifty 50 index is in a tight range of 24,000 to 24,300. She stated that the 50-stock index needs to decisively break above 24,300 to strengthen bulls' conviction, while the 23,800 level shall be positioned as the important near-term support which needs to be sustained. Shrikant Chouhan, Head Equity Research at Kotak Securities, provided additional technical guidance, stating that for day traders, 23,900/76500 would act as an immediate support zone, while 24,100/77200 or the 50-day SMA would be the key resistance area. A successful breakout above 24,100/77200 could push the market up to 24,250-24,350/77,700-78,000, while below 23,900/76,500, the market could retest the levels of 23,800-23,750/76,200-76,000. On the Bank Nifty outlook, Vatsal Bhuva, Technical Analyst at LKP Securities, noted that the index formed a spinning top candlestick on the daily chart, signalling indecision near current levels, with the 54,150–54,250 zone aligned with the 100 WMA likely to act as key support.
Vaishali Parekh from Prabhudas Lilladher has recommended three stocks for today's trading session. As reported by Live Mint, her recommendations include Rites at ₹226.15 with a target of ₹240 and stop loss at ₹220, Thirumalai Chemicals at ₹220.40 with a target of ₹235 and stop loss at ₹215, and TBZ at ₹150 with a target of ₹160 and stop loss at ₹146. Market experts from Choice Broking, Anand Rathi, and Prabhudas Lilladher have also recommended eight additional stocks for intraday trading: VTL at ₹636 with target ₹682 and stop loss ₹613, RR Kabel at ₹1,785 with target ₹1,915 and stop loss ₹1,720, Ambuja Cements at ₹433 with target ₹442 and stop loss ₹428, REC at ₹357 with target ₹370 and stop loss ₹350, IRFC at ₹106 with target ₹112 and stop loss ₹102, ABB at ₹7,328 with target ₹7,600 and stop loss ₹7,180, M&M at ₹3,210 with target ₹3,350 and stop loss ₹3,155, and Apollo Micro Systems at ₹308 with target ₹330 and stop loss ₹300. The overall bias is maintained positive but with a cautious approach amid geopolitical tensions.