Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, climbed on Wednesday in a widespread rally, driven by optimistic expectations regarding trade discussions with Washington, while strengthening anticipation of a U.S. interest rate cut further boosted technology shares.
The Nifty 50 increased by 0.49% to 24,982.55, and the Sensex gained 0.5% to 81,451.32 as of 11:57 IST. The Nifty 50 is on track for its sixth consecutive day of gains, while the Sensex has recorded three days of upward movement.
On Tuesday, U.S. President Donald Trump mentioned that his administration is actively engaged in talks aimed at reducing trade barriers with India and that he would converse with Prime Minister Narendra Modi, raising optimism about reaching a resolution after a period of tensions.
Modi also expressed his eagerness to hold discussions with Trump and stated that both nations are striving to finalize the negotiations promptly.
However, Trump additionally called on European Union (EU) leaders to implement 100% tariffs on both China and India as a tactic to exert pressure on Russia, as reported by a U.S. official and an EU representative.
In the meantime, signs of weakness in the U.S. labor market have strengthened expectations for a 25-basis-point interest rate cut at the upcoming Federal Reserve meeting, as noted by experts.
Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities
Nifty 50
Nifty 50 has surpassed 25,000 levels on an intraday basis and a close above the same will be the first indication of short covering in the near term. Above 25,000 levels, the next levels to watch out will be 25,200 levels as beyond those levels the Index will be heading towards 25,700 and beyond levels.
The probability of a bounce back is quite high as the FIIs short positions in the Index futures is at the extreme as well as the Index is quite oversold in the near term. In the recent fall, Nifty Bank and Nifty IT were the underperformers, now, Nifty IT has bounced back after the buy back announcement from Infosys, so the Bank Nifty is also likely to bounce as that is the only one left to bounce.
The Options data also indicate that beyond 25,000 there will be call unwinding in the Index which can thereafter help the Index towards 25,200 levels. On the lower side, 24,800 is now a critical support and till that is held the short-term outlook on Nifty 50 is bullish.
Stocks To Buy in the near-term – Jay Thakkar
Jay Thakkar of ICICI Securities recommends , , and .
Buy BDL Futures in the range of ₹1,460-1,470 for the targets of ₹1,550 and ₹1,600; stop loss of ₹1,421
BDL has fallen quite a lot on account of short built up and now there is a positive divergence as well as a positive weekly close due to which short covering is expected in the stock. The overall Nifty Defence Index has witnessed quite a lot of short built up, hence a bounce back is expected. As per the options data, 1500 strike has the highest call base and a close beyond those levels will lead to further short covering.
Buy TCS Futures in the range of ₹3,130-3,135; stop loss of ₹3,030 Targets: of ₹3,250 and ₹3,330
Nifty IT has seen a sharp reversal after the announcement of buy back from Infosys and this has changed the sentiment in the short term. TCS has also witnessed huge shorts and with this positive sentiment shift there are signs of short covering in TCS as well. There is significant call unwinding at the lower levels and a strong put additions at 3100 strike and the stock is trading well above those levels, hence a bounce back from hereon can’t be ruled out.
Buy Lupin Futures in the range of ₹1,984-1,990; stop loss of ₹1,920 targets of ₹2,060 and ₹2,100
Lupin has witnessed short built and with the breakout from the consolidation on the upside a short covering is expected. As per the options data 2,000 strike has the highest call base and beyond those levels there is further short covering expected which will help the stock to inch towards 2,100 levels eventually. The momentum is bullish and the stock is trading above its max pain level of 1,960 levels which is also positive sign in the near term.
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 09/09/2025 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.