Stock market news: Indian equity markets opened sharply higher on Friday, mirroring gains across Asian markets after easing geopolitical tensions in the Middle East boosted investor sentiment. The rally came after US President Donald Trump called off planned military strikes against Iran, citing progress in ongoing diplomatic negotiations.
At 9:15 IST, the benchmark Nifty 50 advanced 1.08% to 23,412.55, while the BSE Sensex gained 1.19% to 74,709.27.
The positive sentiment was broad-based, with all 16 major sectoral indices trading in the green. Broader markets also participated in the rally, with the Nifty Midcap and Smallcap indices rising 1.3% and 1.4%, respectively.
Global markets were buoyed by a sharp decline in crude oil prices, with Brent crude futures falling to nearly a two-month low of around $89 per barrel, easing concerns over inflation and energy costs. Asian equities surged as much as 4% amid hopes of a diplomatic breakthrough.
Trump said on Thursday that the United States and Iran could sign a peace agreement as early as this weekend, potentially paving the way for the reopening of the Strait of Hormuz, a key global oil shipping route. However, Iran stated that it had not yet taken a final decision on any proposed agreement, keeping some uncertainty in the market.
Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities
Nifty 50
In the hourly and daily charts, the benchmark index continues to trend down, forming a lower-tops-and-bottoms pattern. Currently, the index is sustaining below its 20-, 50-, 100-, and 200-day SMAs, which reconfirms the bearish trend. From current levels, the short-term outlook remains negative, with immediate support at 23,000. Any sustainable close below this level may trigger further weakness toward the 22,800-22,500 levels. On the upside, the supply zone is around 23,500 levels. The daily RSI strength indicator remains in negative territory, indicating a loss of strength.
Stocks to buy today
Allied Blenders and Distillers Ltd Cmp: ₹612
On the daily chart, the stock decisively surpassed the “multiple resistance” zone at 596 on a closing basis, with heavy volume. The daily “Bollinger Band” buy signal indicates increased participation. Allied Blenders is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching up alongside the price rise, which further confirms the bullish trend. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is 650-680, and its downside support zone is the 570–590 levels.
Torrent Pharmaceuticals Ltd Cmp: ₹4,582
Since March 2025, the stock has been inching up within a weekly “up-sloping” channel, signalling a sustained uptrend. Torrent Pharma is in a strong uptrend across all time frames, forming a series of higher tops and bottoms. The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching up alongside the price rise, which further confirms the bullish trend. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹4,700-4,900, and its downside support zone is ₹4,470-4,400.
Zee Entertainment Enterprises Ltd Cmp: ₹111
On the daily and weekly charts, Zee Entertainment share price has confirmed a trend reversal, forming higher tops and bottoms. Last week, the stock decisively surpassed the “multiple resistance” zone at 100 levels on closing, accompanied by heavy volumes, indicating increased participation. The stock is well above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs), which reconfirms the bullish trend. The weekly “Bollinger Band” buy signal shows increased momentum.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is 125-132, and its downside support zone is the 100–105 levels.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
