Stock market today: India’s equity benchmarks faced a dip on Friday as major financial stocks pulled back, relinquishing some of the gains made earlier this week following the Reserve Bank of India’s dovish stance and new lending reforms.
As of 11:18 IST, the Nifty 50 index was flat at 24,829 . 75, while the BSE Sensex was also flat at 81,013.91.
Experts indicate that the positive effects of the RBI’s efforts to stimulate credit growth may not hold up amidst ongoing foreign selling in the market. Foreign portfolio investors appear poised to increase their sell-offs, taking advantage of the market conditions following the previous session’s rally.
In September alone, FPIs withdrew $2.7 billion from Indian equities, leading to a total year-to-date outflow of $17.6 billion, which is on track for a record annual withdrawal from foreign investments.
Market Views – Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities
Nifty 50
Nifty 50 is trading with a bullish undertone as it sustains above its crucial support at 24,750. The index has shown resilience despite volatility, with momentum indicators hinting at a possible continuation of the upward trend. Resistance is capped at 25,000, and a decisive close above this level could open the path toward higher targets in the near term. Overall sentiment remains positive, and traders can look for buying opportunities on dips while keeping risk strictly managed.
Bank Nifty
Bank Nifty continues to exhibit strength, holding above its immediate supports at 55,100 and 55,000. The index has formed a constructive base, with bulls attempting to push toward the resistance zone of 55,600–55,700. A breakout above this band could further accelerate momentum, supporting banking heavyweights. Technical indicators are aligned positively, suggesting buying interest is intact. As long as the support zone holds, the short-term trend remains bullish, and traders may adopt a buy-on-dips approach with disciplined stop-loss placement.
Shares to buy for short term
Prashanth Tapse recommends buying these three stocks in the short term – Bharti Airtel Ltd, Adani Ports and Special Economic Zone Ltd, and Bharat Electronics Ltd (BEL).
Bharti Airtel – Buy | CMP: ₹1,870 | SL: ₹1,800 | Target: ₹2,000
Bharti Airtel is showing strong price action, comfortably trading near its recent highs with consistent volume participation. The stock remains above all key moving averages, reinforcing the bullish structure. Telecom sector tailwinds and subscriber growth are expected to aid performance further. Momentum indicators, including RSI, are trending positively, suggesting room for continuation of the rally. Sustaining above ₹1,870 could trigger upside toward ₹2,000, with ₹1,800 serving as a protective stop-loss for traders.
Adani Ports – Buy | CMP: ₹1,423 | SL: ₹1,340 | Target: ₹1,550
Adani Ports is maintaining a bullish trajectory after breaking out of its consolidation zone. The stock is supported by strong fundamentals and robust growth in cargo volumes, which continue to drive investor confidence. Technically, it remains well-positioned above its support levels, while momentum oscillators confirm buying strength. A sustained move above ₹1,423 could extend gains toward ₹1,550 in the short term. Traders should maintain ₹1,340 as a strict stop-loss to manage risk in case of volatility.
BEL – Buy | CMP: ₹413 | SL: ₹390 | Target: ₹450
BEL remains firmly in bullish territory, benefiting from strong order inflows in the defence sector. The stock is trading with healthy volumes and has successfully held above its crucial support levels. Momentum indicators are pointing upward, confirming the ongoing strength in trend. With continued government focus on indigenisation and defence spending, the stock has strong tailwinds. A move sustained above ₹413 can drive prices toward ₹450, while ₹390 should be watched as an immediate stop-loss.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
