Stock market today: India’s stock indices moved sideways on Friday, as investors took profits after a six-session rally fueled by optimism about easing global trade tensions and a possible rebound in domestic corporate earnings.
The Nifty 50 decreased by 0.49% to 25,765.50, whereas the BSE Sensex declined by 0.52% to 84,119.12, was trading at 13:36 IST. Both indices had started the day around 0.2% higher.
Market analysts expressed that investor sentiment remains strong regarding the anticipated trade agreement between India and the United States, despite the absence of any official confirmation thus far.
On a global scale, the recent sanctions on two leading Russian crude oil companies also impacted market mood.
Furthermore, the steep decline in gold and silver prices this week has produced a negative wealth effect. Nevertheless, analysts pointed out that diminished Russian oil revenues could expedite a potential peace deal between Ukraine and Russia, possibly mediated by the US.
Prominent companies expected to reveal their Q2 FY26 results today include Dr Reddy’s Laboratories, SBI Life Insurance Company, ITC Hotels, Coforge, Aditya Birla Sun Life AMC, Brigade Hotel Ventures, eClerx Services, Jinkushal Industries, Latent View Analytics, NACL Industries, and SBI Cards.
Market Views – Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities
Nifty 50
Nifty 50 maintained a bullish bias throughout the session, holding comfortably above the 25,800 zone. Immediate support lies at 25,800 and 25,600, while resistance is seen near 26,000 and 26,200. A sustained move above 26,000 could lead to further upside momentum toward 26,200. Indicators remain positive with improving breadth, suggesting continued buying on dips as the preferred strategy in the near term.
Bank Nifty
Bank Nifty extended its upward momentum, confirming a breakout above 56,800. The index now finds strong support at 57,900 and 57,800, while facing resistance at 58,200 and 58,500. A close above 58,200 could open the door for further gains toward 58,500 and beyond. With RSI trending upward and strong participation from private banks, the overall tone stays bullish — buy on dips remains advised.
Shares to buy for short term
Prashanth Tapse recommends buying these three stocks in the short term – , , and .
Motilal Oswal – Buy | CMP: ₹1,034 | SL: ₹980 | Target: ₹1,100
Motilal Oswal has shown a strong breakout continuation on daily charts backed by rising volumes. The structure suggests strength, with RSI confirming momentum. Sustaining above ₹1,020 could extend the rally toward ₹1,100. Traders may consider buying on dips while keeping a stop-loss at ₹980 to protect profits.
Nuvama Wealth – Buy | CMP: ₹7,294 | SL: ₹7,050 | Target: ₹7,600
Nuvama Wealth continues to maintain strong upside traction after a period of consolidation. The stock remains comfortably above short-term averages, with RSI showing bullish signals. Sustaining above ₹7,200 can drive the next leg toward ₹7,600. Traders may accumulate on minor declines, keeping a stop-loss at ₹7,050 for risk management.
Jindal Steel & Power – Buy | CMP: ₹1,017 | SL: ₹985 | Target: ₹1,080
Jindal Steel & Power is consolidating near its support base and showing early signs of a breakout. Volume activity has picked up, indicating accumulation at lower levels. A decisive move above ₹1,025 may trigger upside toward ₹1,080. Traders should maintain a stop-loss at ₹985 to manage downside risk effectively.
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.