Indian equity indices opened Wednesday’s trading session on a higher note. The NSE Nifty 50 opened above 25,100, while the BSE Sensex opened 205 points higher at 82,392.
Similarly, Bank Nifty opened 0.10% higher at 56,800 on the back of the healthy quarterly performance of large banking stocks.
On the other hand, the small and midcap stocks opened in the green. The Nifty Midcap rose 50 points to 59,153.
The 11th new record high for 2025 set by S&P 500 yesterday is an indication of the direction and resilience of equity markets globally. Markets are climbing all walls of worries, and valuation concerns have been put on the back burner. In the near-term, this resilience is likely to continue, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.
“Technically, Nifty’s pivotal support is at 24,881, with resistance seen at 25,670. Focus today will be on Q1 earnings releases and developments in the US-India trade negotiations ahead of the August 01 deadline,” added Tapse.
“We believe that the current market structure is directionless; hence, level-based trading would be the ideal strategy for day traders. For traders, the 25,000 level or the 50-day SMA (Simple Moving Average) would be the key support zone. As long as the market continues to trade above this level, a pullback formation is likely to continue,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
“On the upside, 25,200 and 20-day SMA or 25,325 would be the key resistance zones for the bulls. On the other hand, a break of 25,000 could take the market towards 24,900. The downtrend could continue further, taking the index to 24,775,” added Chouhan.
“A significant takeaway from the early Q1 results is the improving prospects of banking and digital stocks. In banking, the market will be choosy with focus on the high-quality private sector banks, particularly ICICI Bank and HDFC Bank. Q1 results of Eternal and Paytm indicate steady growth potential of the digital stocks, which have a long runway of growth,” added Vijayakumar.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Tata Motors, Adani Enterprises, Adani Ports and SEZ, Nestle India, and Maruti Suzuki, among other stocks. On the flip side, the key laggards in the Nifty 50 pack included Hero MotoCorp, Tata Steel, Zomato (Eternal), Bharat Electronics, and SBI Life Insurance.
Major movers on Wednesday
The stocks that remained under pressure included Reliance Industries, Bharti Airtel, Infosys, Tata Motors, and L&T, which were the major movers in the morning trade.
All eyes on Q4 earnings
Investors are closely tracking a string of quarterly results scheduled for today. Major names like Infosys, Dr Reddy’s Laboratories, Coforge, Aditya Birla Real Estate, Tata Consumer Products, Bajaj Housing Finance, CMS Info Systems, DAM Capital Advisors, Bikaji Foods International, Force Motors, Mahindra Holidays & Resorts India, SRF, Syngene International, Persistent Systems, Thyrocare Technologies, and Tata Teleservices will announce their quarterly earnings scorecard on June 23.