Stock Market Update
Investors’ focus is gradually shifting towards Nifty 50 and Sensex, as they continue to be the most traded indices in the Indian stock market. From today, our daily analysis will primarily cover these two benchmarks, while Bank Nifty will be included in the weekly outlook.
Sensex Outlook
On Tuesday, the Sensex managed to hold the crucial 82,000 level, though it tested important support zones during intraday trade. The index has already completed a retracement back to its 20-day exponential moving average (EMA), which is considered a healthy and logical correction.
Technical indicators such as RSI still suggest strength, confirming that the recent pullback is part of a normal correction rather than a sign of major weakness. The W-pattern breakout level has also been retested successfully, adding further resilience to the index.
Nifty 50 Levels
For the Nifty 50, the critical support range remains 25,000–25,150, which was highlighted in earlier sessions. As long as the index trades within this zone, the market remains neutral — neither strongly bullish nor bearish. A breakout above resistance could trigger an upside, while a sustained break below 25,000 would raise caution.
Bank Nifty and Stock-Specific Moves
Banking stocks provided some positivity, with IndusInd Bank and Axis Bank among the top gainers. Market experts have emphasized a stock-specific strategy, as broader market momentum remains range-bound.
Other strong performers included JSW Steel, Bajaj Finance, and SBI, while Tech Mahindra, Trent, and HCL Technologies saw declines.
Adani Group Stocks
Adani Group shares witnessed heavy volatility. After sharp gains in recent weeks, Adani Power fell 4.5% and Adani Total Gas declined 7.5% on profit-booking. Analysts caution investors against chasing Adani stocks during rallies, as history shows steep corrections often follow sudden surges.
Key Stock Updates
ICICI Bank: Received a GST show-cause notice worth ₹15.6 crore from the West Bengal department. The bank clarified full compliance, though the stock showed weakness.
HAL and BEL: Hindustan Aeronautics Ltd (HAL) is reportedly in line to secure a ₹4,000-crore defense order for its Computer Aided Transmitter (CAT) system, designed to enhance combat drone networking. BEL is also expected to benefit through radar and electronics supply.
KNR Constructions: Awarded a ₹459-crore road project, strengthening the outlook for the infrastructure sector.
Muthoot Finance: Rising gold prices, with international rates around ₹1.15 lakh per 10 grams, could benefit gold loan financiers.
IRCTC: Launching new services including Vande Bharat sleeper trains and overseas travel bookings, diversifying its business model.
Jio Financial Services: Introduced a savings scheme linking deposits to liquid mutual funds, offering up to 6.5% interest, higher than traditional savings accounts.
Market Sentiment
FII data showed net selling of ₹357 crore, while DIIs bought shares worth ₹2,671 crore, partly balancing foreign outflows. Global cues were supportive, with Gift Nifty trading at 25,247 and European indices in positive territory.
Conclusion
Markets are currently consolidating in a narrow range, with limited triggers for a sharp upside. Experts recommend a stock-specific approach instead of broad index bets, focusing on sectors like banking, infrastructure, defense, and gold finance.
