Indian equities started Wednesday’s session on a cheerful note. The Sensex opened at 80,525.07, up 0.36%, while the Nifty began the day at 24,583.75, gaining 0.39%. The Nifty Bank also saw early traction, opening at 55,229.60, up 0.34%.
Let’s take a look at the key factors to watch in today’s trade-
Who’s leading and Who’s lagging?
In the Sensex 30 pack, early trade saw some heavyweights pulling ahead. Kotak Bank, Bajaj Finserv, PowerGrid, Tata Motors were among the early winners, while Maruti, Trent, ICICI Bank, Sun Pharma were trading under pressure.
Earnings season
Corporate results remain the big talking point for the week. Investors will be watching quarterly numbers from technology majors like Tata Consultancy Services, Wipro, and Infosys, alongside banking biggies HDFC Bank, ICICI Bank, and State Bank of India.
Outside the frontline names, a diverse mix of companies will also report today, including Bharat Petroleum Corporation (BPCL), Max Healthcare, Muthoot Finance, Samvardhana Motherson International, United Spirits, Vishal Mega Mart, and Fertilisers and Chemicals Travancore.
Stocks to keep an eye on
Several counters are likely to stay in focus through the day thanks to fresh developments. These include NSDL, NMDC, Jindal Steel, Cochin Shipyard, Suzlon Energy, Hindustan Aeronautics Limited (HAL), and Vodafone Idea.
Market outlook
“Nifty (CMP 24,487) and Bank Nifty (CMP 55,044) traded with a bullish undertone as positive cues from lower CPI readings in India and steady US inflation boosted sentiment, alongside Trump’s 90-day tariff suspension extension. Rate-cut odds for the Fed’s September meet have risen to 93%, adding to optimism. However, volatility may persist with FIIs net selling Rs 3,399 crore yesterday and the market eyeing Friday’s Trump–Putin summit for geopolitical cues. Q1 earnings season remains in focus, with key results from ABFRL, BPCL, IRCTC, and others due today,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Technical perspective
“From a technical perspective, after an initial intraday rally, the market encountered resistance near the 24,700 level and reversed sharply. From its highest point of the day, the market dropped over 225 points. We believe the current market structure is lacking direction; therefore, level-based trading would be the ideal strategy for day traders,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
“On the upside, 24,570 will serve as an immediate resistance zone. If the market surpasses this level, it could rebound to the range of 24,700 to 24,775. On the downside, if it falls below 24,400, we can expect increased selling pressure and may fall to 24350 or 24250 levels,” he added.