Buy or sell stocks: The Indian stock market closed on a positive note on Wednesday, buoyed by optimism over progress in India-US trade negotiations and expectations of a potential US Fed rate cut later in the day. The BSE Sensex climbed by approximately 313 points, or 0.38%, to settle at around 82,693.70, while the NSE Nifty 50 advanced by about 91 points, or 0.36%, closing at 25,330.25. This upward movement reflects improving investor sentiment amid encouraging geopolitical and macroeconomic signals.
One of the key drivers of the rally was renewed hope for an early trade agreement between India and the United States. Officials from both sides described the latest round of talks as “constructive” and “forward-looking,” which boosted confidence in the possibility of a favourable outcome. This development was particularly well-received by investors, who see stronger trade ties with the US as a positive for economic growth and corporate earnings.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment has improved as the Nifty 50 index has given a fresh breakout above 25,300. The 50-stock index may soon touch 25,700. The immediate support for the key benchmark index has now shifted to 25,100 levels.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, “The Nifty 50 index has indicated a breach above the important and crucial hurdle of 25,250-25,300 zone with bias and sentiment getting better, anticipating further gains in the coming days, with hopes of positive global cues awaited in the coming days. Sustaining above the important support of the 25,250 level, one can expect the index to achieve the near-term target of the 25,700 level with the broader markets, indicating a fresh positive upward trend to strengthen the overall bias further.”
On the outlook of the Bank Nifty today, Parekh said, “The Bank Nifty index, slowly and steadily has been gaining strength ahead of the Fed outcome, crossing the important 50-DEMA at 55,150 zone to improve the bias and with the sentiment easing out, one can expect for next near-term target of 56,200 level provided the 50-DEMA at 55,150 level is sustained as of now. The PSU Banks have started showing signs of a fresh upward move to support the Bank Nifty index, and a decisive breach above the 56,200 zone shall trigger a fresh upward move in the coming days.”
Parekh said that the Nifty 50 index’s immediate support is at 25,200, while the resistance is at 25,500. The Bank Nifty’s daily range would be 55,000-56,200.
Vaishali Parekh’s intraday stock recommendations today
Regarding intraday stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: Varun Beverages, Bank of Maharashtra, and MCX.
1] Varun Beverages: Buy at ₹470, Target ₹490, Stop Loss ₹460;
2] Bank of Maharashtra: Buy at ₹57, Target ₹62, Stop Loss ₹55; and
3] MCX: Buy at ₹7920, Target ₹8300, Stop Loss ₹7759.
US Fed rate cut
The US Federal Reserve cut the benchmark interest rate by 25 basis points on Wednesday, September 17, amid growing stress in the labour market.
The FOMC voted by an 11:1 majority to cut the federal funds rate by 25 bps and bring it down to a range of 4 per cent to 4.25 per cent.
The Fed’s policy decision was in line with expectations. The central bank did give subtle hints of further easing in the coming months, but it emphasised that the policy decisions will remain anchored to incoming data and evolving situations.
“The median participant projects that the appropriate level of the federal funds rate will be 3.6 per cent at the end of this year, 3.4 per cent at the end of 2026, and 3.1 per cent at the end of 2027. This path is 1/4 percentage point (25 bps) lower than projected in June,” said Fed Chair Jerome Powell.
The Fed’s policy decision was in line with expectations. The central bank did give subtle hints of further easing in the coming months, but it emphasised that the policy decisions will remain anchored to incoming data and evolving situations.
“The median participant projects that the appropriate level of the federal funds rate will be 3.6 per cent at the end of this year, 3.4 per cent at the end of 2026, and 3.1 per cent at the end of 2027. This path is 1/4 percentage point (25 bps) lower than projected in June,” said Fed Chair Jerome Powell.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
