Indian equity markets started Wednesday on a cautious note, taking cues from weak global trends and looming trade uncertainties. The Sensex opened at 82,527.82, down 0.05%, while the Nifty began the session at 25,169.55, slipping 0.10%. The Bank Nifty, opened in green at 57,096.60 in early trade, up 0.20%..
Let’s take a look at the key factors to watch today –
Top gainers and losers in early trade
In the opening hours, a few stocks managed to defy the broader market mood and posted early gains. Top performers on the Sensex included HDFC Bank, UltraTech Cement, HCL Tech, NTPC, Bharti Airtel. However, pressure continued to mount on several large-cap names. Key laggards at this hour included Eternal, Reliance, TCS, Asian Paints.
Q1 earnings in focus: 17 companies to report today
Wednesday marks a key day for quarterly earnings, with 17 companies set to announce their Q1FY26 results. Among the key names are Tech Mahindra, ITC Hotels, LT Technology Services, and Angel One. The list also includes Kalpataru Projects, IXIGO (Le Travenues Technology), and DB Corp.
Smaller firms like Lotus Chocolate Company, Oriental Hotels, Heubach Colorants, JTL Industries, and Tree House Education are also on the radar.
Global Cues: Asia trades lower after Trump tariff shock
Asian markets opened on a muted note after reports that US President Donald Trump has struck a preliminary trade deal with Indonesia, which includes a 19% tariff on Indonesian imports. Japan’s Nikkei 225 opened flat, while the Topix slipped 0.11%. South Korea’s Kospi and Kosdaq were down 0.5% and 0.56%, respectively.
Technical outlook
From a technical standpoint, market experts are closely tracking support and resistance levels. According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, short-term support levels for the Nifty stand at 25,150, and for the Sensex at 82,400. A bounce from these levels could push the market toward the 20-day Simple Moving Average (SMA) of 25,250/82,800.
“Above 25,250, momentum could pick up and lift the index toward 25,500 or even 25,800,” Chouhan added. “But if the index falls below 25,150, it may slide further toward 25,000 or even 24,800.”
“Bank Nifty is trading in a range. The observation is that it is not participating in a downtrend, which is positive. Above 57100, it has scope to move towards the ultimate resistance level of 57500/57600. For the day, buy above 25250 with a stop loss at 25150. The momentum should increase above 25250, which may push the market to 25350 or 23500. Breaking 25150 could be negative in the short term as the Nifty may fall to 25000 or 24900,” he added.