Stock market today: Indian benchmark indices, Sensex and Nifty 50, recovered in early trade on Wednesday, rebounding from the previous session’s losses as banking stocks advanced and softer-than-expected US inflation data boosted hopes that the Federal Reserve could adopt a less hawkish approach to monetary policy.
The BSE Sensex surged 553 points to 77,603.57, while the NSE Nifty 50 climbed 148.15 points to 24,198.40 in early deals.
Despite the recovery, investor sentiment remained cautious amid escalating geopolitical tensions in the Middle East. The US and Iran continued to exchange strikes, while tensions over control of the Strait of Hormuz kept markets on edge.
Meanwhile, Brent crude rose 1.4% to around $86 per barrel after US President Donald Trump reinstated a naval blockade on Iranian ports, prompting retaliatory strikes by Tehran on US infrastructure in the Middle East.
Global risk sentiment, however, found support from weaker-than-expected US inflation data. Softer inflation reinforced expectations that the Federal Reserve may refrain from raising interest rates in the near term, lifting Wall Street overnight and supporting Asian markets.
Cooling US inflation is generally positive for emerging markets, including India, as it reduces pressure on the US dollar, lowers the likelihood of aggressive Fed tightening, and improves the prospects for foreign capital inflows into risk assets.
Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities
Nifty 50
The Index closed in negative territory on the day of the weekly expiry session; however, it managed to hold on to the 24,000 level, which had the highest put base for the day and for this series as well.
On the upside, 24,200 and 24,300 are the critical resistance levels, and until those levels are taken off, the short-term trend remains sideways to negative. The India VIX has now started to move higher again; however, it remains within the 11-16 tolerance band, meaning that until it closes above 16, the downside risk is limited.
The FII index short positions remain elevated at 2.55 lakh contracts as of 13/7/2026, so the upside potential in the India VIX looks limited. The short-term rise in crude oil prices also appears to be a bounce rather than a fresh leg up, hence the markets are likely to trade within a short-term range of 24,500-23,500 levels, which is a 1,000-point range, and until it is not broken on the either side, the traders can trade with a neutral strategy on the Index.
The BankNifty has also been consolidating within the 58,500-57,000 range, and only a breakout from this range will lead to further momentum. However, the Nifty Midcap Select has formed a breakout with long buildup, and as long as the 14,300 level is not broken, it remains in an uptrend.
Stocks To Buy in the near-term – Jay Thakkar
Jay Thakkar of ICICI Securities recommends futures, futures, and futures.
Buy RBL Bank fut in the range of 375-378, stop loss below 365, targets 390/400
RBL Bank has been trending higher holding on to its 20 day mean, however, there is no major rise on the open interest which is a concern but the price action is positive and the stock is outperforming its peers in the near term. As per the options data, there has been a significant put addition at the lower levels from 350-380 strikes and on the upside the call base is directly at 400 levels only, hence the second target is 400. The stock is also trading well above 370 levels which is its max pain level and it is likely to act as a short-term support.
Buy PG Electroplast Futures in the range of 590-605, stop loss below 575, targets 630-645
PG Electroplast has provided a breakout from the multiple swing resistances and there has a clear long addition as well indicating a clear reversal from down to up. As per the options data, there has been significant put additions right from 550 to 600 strike with 560 and 580 strikes having highest put base whereas apart from 600 strike there is no major hurdle as that is the only strike that has the highest call base so above those levels there is a higher probability of an upside. The max pain is at 580 and it is trading well above those levels, so it will act as a short-term support. There is been a decent come back by the NIFTY Consumer Durable Index as well which is also a short-term support for the stock.
Buy Mankind Pharma futures in the range of 2,525-2,550, stop loss below 2,460, Targets 2,650 and 2,725
The Nifty Pharma Index has been trending higher and within that most of the stock are trading with a positive bias. One such stock is Mankind Pharma which has witnessed good long additions in the past and now it has been consolidating with a short-term range due to profit booking, however, a breakout from this range is expected on the upside which will lead a strong momentum in the stock. As per the options data,
The stock has highest call base at 2,500 and 2,600 strikes and it is now trading well above 2,500 strike, hence some call unwinding cannot be ruled out, which can carry the stock to 2,600 levels.
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 14/07/2026 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.