Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, started lower on Friday, influenced by declines in pharmaceutical stocks following US President Donald Trump’s announcement of a 100% tariff on branded and patented medications.
The Nifty 50 declined by 0.29% to reach 24,818.55, while the BSE Sensex fell by 0.25% to 80,956.01, as of 9:15 IST. On Thursday, Trump imposed a new set of heavy tariffs on a wide array of imported products, including branded and patented medications as well as heavy-duty trucks, which will take effect on October 1.
The United States represents slightly over one-third of India’s pharmaceutical exports, which mainly consist of lower-cost generic versions of well-known drugs. Exports to the US increased by 20%, totaling around $10.5 billion in fiscal 2025.
Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities
Nifty 50
Since May 2025, the index has been consolidating within 25,500-24,300 levels, indicating a short to medium-term sideways trend. On the hourly chart, the index is trending lower, forming a series of lower tops and bottoms indicating negative bias. From current levels, the crucial support zone is placed around 24,800 levels, and any violation of the same on a closing basis may cause further downside towards 24,600-24,500 levels. On the other hand, the resistance zone is placed around 25,000-25,100 levels. The daily strength indicator RSI is in negative territory, which indicates a loss of strength.
Hindustan Zinc Ltd Cmp: ₹468
On the daily chart, Hindustan Zinc share price has marginally closed above the “multiple resistance zone” of 466 levels on a closing basis. This breakout is accompanied by huge volumes, which shows increased participation. The positive crossover of 20,50, 100 and 200-day SMA shows bullish sentiments. The daily, weekly strength indicator, 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 490-500, and its downside support zone is the 460-455 levels.
CreditAccess Grameen Ltd Cmp: ₹1,422
CreditAccess Grameen share price is in a strong uptrend on the daily and weekly charts, forming a series of higher tops and bottoms.. In addition to the weekly chart, the stock has also confirmed a ” rounded bottom” formation breakout at 1340 levels, indicating positive bias. The stock is well placed above its 20, 50, 100 and 200-day SMA, which reconfirms bullish sentiments. The daily, weekly strength indicator, 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 1500-1585, and its downside support zone is the 1370-1345 levels.
Poonawalla Fincorp Ltd Cmp: ₹492
On the weekly chart, Poonawalla Fincorp share price has confirmed an “inverse Head & Shoulder” pattern breakout at 479 levels along with huge volumes, which signals bullish sentiments. The stock is well placed above its 20, 50, 100 and 200-day SMA, which reconfirms bullish sentiments. The daily “band bollinger” buy signals indicate increased momentum. The daily, weekly and monthly strength indicator, 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 513-525, and its downside support zone is the 479-470 levels.
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.
