Stock Market LIVE Updates: Nifty around 25,250, Sensex rises 250 pts; mid, smallcaps gain
Indian equity markets are expected to begin Wednesday’s session on a cautious to mildly positive note, with early cues from GIFT Nifty indicating a flat-to-positive opening. However, the broader sentiment remains fragile as participants continue to grapple with persistent foreign fund outflows, heightened volatility ahead of the Union Budget, and mixed global cues. While short-term relief rallies cannot be ruled out, traders are likely to remain selective and guarded.
In the previous session, benchmark indices attempted a recovery after recent weakness, supported by buying interest at lower levels. The Nifty 50 managed to hold above the crucial 25,000 mark, while the Sensex closed modestly higher, aided largely by banking, metals, and select oil & gas stocks. Despite the rebound, market breadth remained mixed, suggesting that underlying risk appetite is still limited. Midcap and smallcap indices continued to underperform the frontline indices, highlighting ongoing caution in broader market participation.
From a technical perspective, the Nifty continues to trade in a volatile and narrow range. The 25,300–25,400 zone is emerging as an immediate resistance area, and sustained strength above this band is required to trigger meaningful short-covering. On the downside, 25,000 remains a critical psychological support, followed by 24,800. A decisive breakdown below this support could renew selling pressure and extend the corrective phase. Momentum indicators remain subdued, though oversold conditions in pockets may lead to brief, stock-specific pullbacks.
The Bank Nifty has shown relatively better resilience compared to the broader market, supported by selective buying in frontline private banks. Immediate support is placed near 58,900–59,000, while resistance is seen around 59,500–59,600. A clear move above resistance is needed to restore confidence in the banking space.
On the flows front, FIIs continued to remain net sellers, reflecting sustained global risk aversion, while DIIs provided partial support through steady inflows, helping cap deeper declines. The Indian rupee showed mild stability, offering limited comfort to sentiment.
Overall, markets may witness a range-bound session with a neutral-to-positive bias. Traders are advised to maintain strict risk management, focus on earnings-driven and sector-specific opportunities, and avoid aggressive positions until clearer directional cues emerge. Investors may prefer to wait for stability near key support levels before deploying fresh capital.
