opened on a cautious note on Wednesday morning, with the trading at 82,134.83, up 208.08 points or 0.25 per cent, while the gained 50.70 points or 0.20 per cent to trade at 25,159.00 as of 9:55 am. The Nifty opened at 25,079.75 against its previous close of 25,108.30, while the Sensex opened at ₹81,899.51 against its previous close of ₹81,926.75.
Technology stocks led the rally in early trade, with Titan emerging as the top gainer, surging 4.20 per cent to ₹3,561.90. Tech Mahindra gained 2.29 per cent to ₹1,471.90, while Infosys rose 2.28 per cent to ₹1,491.70. TCS advanced 2.18 per cent to ₹3,038.50, and HCL Technologies climbed 1.65 per cent to ₹1,457.00.
“The Nifty 50 rebounded smartly from its support zone near 25,000, but yesterday’s second-half profit-booking left a spinning-top candle, hinting at indecision after a strong recovery,” said Ponmudi R, CEO of Enrich Money. “A decisive close above 25,100–25,200 is essential to confirm a sustained uptrend, while any slip below 25,000 could trigger a mild correction toward 24,900–24,800.”
On the losing side, Bajaj Auto declined 0.88 per cent to ₹8,826.00, followed by Cipla, which fell 0.85 per cent to ₹1,500.50. Hindustan Unilever dropped 0.77 per cent to ₹2,497.90, while Power Grid shed 0.73 per cent to ₹286.90. Tata Motors slipped 0.69 per cent to ₹693.25.
The Bank Nifty continued its outperformance, trading around 56,050 in early hours. “Bank Nifty continued to outperform, breaking out of its recent consolidation and closing firmly above 56,300, a key confirmation of strength,” Ponmudi said. “A breakout beyond 56,500 could open the path toward 56,700–57,000, while dips below 56,150 may attract brief profit-booking.”
Institutional activity turned positive, with Foreign Institutional Investors purchasing equities worth ₹1,440 crore on October 7, while Domestic Institutional Investors bought equities worth ₹452 crore on the same day. “FIIs turning buyers yesterday is a positive development. But it is too early to say that this trend will sustain,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
On the commodity front, gold prices surged past $4,000 per ounce amid global uncertainties. “Gold prices surged past $4,000 per ounce as investors sought safe-haven assets amid mounting global uncertainties,” said Rahul Kalantri, VP Commodities at Mehta Equities. Gold has support at ₹1,20,600-1,20,280 while resistance is at ₹1,21,850-1,22,400, while silver has support at ₹1,44,450-1,43,850 with resistance at ₹1,46,550-1,47,450.
“Optimism returned to Dalal Street as Nifty and Bank Nifty extended gains for the fourth and sixth straight sessions,” said Prashanth Tapse, Senior VP (Research) at Mehta Equities. “A phase of bullish consolidation now looks likely, supported by India’s strong growth-inflation balance, a good monsoon, GST rationalisation, dovish RBI stance, and global resilience.”
Market breadth remained mixed, with analysts advising caution. “Given the prevailing uncertainty and heightened volatility, traders are advised to maintain a cautious buy-on-dips stance, particularly in leveraged positions,” said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking.