Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, climbed on Wednesday, buoyed by information technology stocks in anticipation of quarterly earnings, along with Titan, which saw an 18% increase in domestic sales for the September quarter.
The Nifty 50 index commenced at 25,145.05, gaining 36.75 points (0.15%), while the BSE Sensex began the day at 82,072.34, an increase of 145.59 points or 0.18%.
As of 10:11 IST, the Nifty 50 increased by 0.23% to 25,164.85, and the BSE Sensex rose by 0.29% to 82,156.91.
Analysts highlighted that Foreign Portfolio Investors (FPIs) experienced a rare day of net inflows on Tuesday, primarily driven by financial stocks, especially public sector banks. Nonetheless, their overall stance remains heavily net short, with little indication of easing the ongoing selling pressure.
Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities
Nifty 50
Nifty 50 closed in the positive territory for the 4 consecutive day and it closed above 25,000 levels for the 2nd consecutive day which indicates that in the near term 25,000 is a critical support and below that 24,800. On the higher side, 25,200 is an immediate resistance whereas above that 25,400 is the next key resistance.
In the recent move since the RBI Monetary policy day, the Banking and Financial stocks have made a come back very strongly and that remains a key support for the Nifty 50 as it carries more than 36% weightage in the Nifty 50. The IVs are quite low at this point of time which is the risk in the near term, else the Options OI data suggest that the bulls have an upper hand until 24,800 levels are held. So, the short-term range for the Index is 24,800 to 25,400 levels. Above 25,400 it will be a final confirmation of an upward breakout for the targets of 26,000 levels. On the contrary, below 24,800 levels, the Index may slip to 24,600 to 24,400 levels again.
Stocks To Buy in the near-term – Jay Thakkar
Jay Thakkar of ICICI Securities recommends Tata Motors Futures, Bajaj Finance, and Indusind Bank Futures.
Buy Tata Motors Futures in the range of ₹695-705; stop loss: ₹680; Targets: ₹730 and ₹745
Tata Motors Futures had witnessed a sharp short covering after the monthly sales numbers were out for the month of September. Within the auto sector this has been an underperforming stock and had witnessed huge short accumulation. With the recent numbers the stock seems to have reversed in the near term and some further short covering is expected in anticipation of the further demand due to the festive season. It had recently taken off its crucial resistance level of 700 and now it has retested the same, thus providing the better entry based on the risk:reward ratio.
Buy Bajaj Finance in the range of ₹1,010-1,030; stop loss: ₹985; Targets: ₹1,070 and 1,090
Bajaj Finance share price has provided a breakout from a sideways consolidation with an increase in OI in the futures segment indicating long build up. Recently, it has been one of the outperformers in the financial sector and above 1000 levels it is expected to inch towards 1100 levels in the near term. The stock is now trading well above its 20-day VWAP as well as its max pain levels, hence the near term outlook is bullish
Buy Indusind Bank Futures in the range of ₹750-755; stop loss: ₹725; Targets: ₹780/800
Indusind Bank has witnessed short covering from the lower end of the range and with the current momentum in the Banking and financial sector the stock is likely to witness some further up move in the near term. The stock has a short term resistance at 760 beyond which it is likely to inch higher towards 800 levels. There has been good put addition at the lower end which will provide some support for the stock.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 7/10/2025 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
