Stock market today: Following strong global market sentiment on news of de-escalation in the US-Iran war, the bounced back strongly on Tuesday after a sharp sell-offthe previous session. The index skyrocketed 445 points or near 2% and closed at 22,958. The BSE Sensex shot up 1,372 points or 1.89% and ended at 74,068. The Bank Nifty index surged 1,305 or 2.54% and finished at 52,743.
Sectoral participation was broadly positive, reflecting a strong recovery across the board. Most major sectors ended in the green, with banking, auto and financials leading the rebound. The recovery was also evident in broader markets, where the mid- and small-cap indices gained over 2.5% each.
What Gift Nifty live chart signals?
The Gift Nifty opened higher today and is currently trading at a premium of over 200 points from yesterday’s close.
Expecting a gap-up opening for the Indian stock market today, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, said the Indian equities are likely to open on a positive note, with Gift Nifty indicating an upside start above the 23,175 level, supported by favourable global cues.
Asian markets today
Asian markets traded higher, buoyed by comments from Donald Trump suggesting the possibility of negotiations between the United States and Iran. This potential for diplomatic engagement has provided some relief to global investors, raising hopes of a de-escalation in Middle East tensions.
The Japanese Nikkei index has risen by around 3%, the Shanghai stock market is up by around 0.65%, the South Korean KOSPI is up by over 3.25%, and Hong Kong’s Hang Seng index is trading at a 0.90% premium.
Gold and silver rates today
Gold and snapped their nine-day losing run on Wednesday, March 25, gained as much as 7% on reports that the US is pursuing a diplomatic resolution to the conflict with Iran, even as it continues to deploy additional troops to the Middle East.
COMEX jumped around 4% to $4,600 per ounce, while COMEX silver prices surged 7% to $74.42 per ounce, during the Asian trading hours on Wednesday.
Speaking on the outlook for gold rates today, Ponmudi R, CEO of Enrich Money, said that a sustained move above $4,550 could push the COMEX gold rate toward $4,700–$4,750.
On the gold rate outlook in India, the Enrich Money CEO said, “Immediate resistance is placed at ₹1,39,000 to ₹1,40,000. A breakout above this zone can trigger a move toward ₹1,43,000 to ₹1,46,000. On the downside, ₹1,34,000 to ₹1,35,000 acts as immediate support. A break below this can extend the fall toward ₹1,30,000.”
“The COMEX silver rate today is in the $68 to $78 range. On MCX, the silver rate today is in ₹2,00,000 to ₹2,35,000 per kg. On breaking above ₹2,35,000, the white metal may try to touch ₹2,45,000,” said Anuj Gupta, a SEBI-registered market expert.
India VIX today
On the domestic front, volatility has shown early signs of cooling, with the India VIX easing below 25. However, the decline remains modest, and volatility remains elevated relative to recent trends. A meaningful drop in VIX would require stronger directional conviction in the market. Until then, option premiums are expected to remain elevated, making risk-reward unfavourable for option sellers in the absence of a clear trend.
FII-DII data
FIIs remained net sellers by offloading Indian shares worth ₹8,009.56 crore in the cash market. In the index futures segment, FIIs sold out shares worth ₹772.28 crore, while in the Index Options segment, they exited shares worth ₹30,102.15 crore. However, DII remained net buyers, adding shares worth ₹5,867.15 crore in the cash market.
“The recent changes in OI data point towards a strengthening short-term bearish sentiment across both segments, reinforcing a sell-on-rise strategy for the upcoming sessions,” said Hariprasad of Livelong Wealth.
USD vs INR
The Indian rupee dropped 35 paise to 93.88 (provisional) against the US dollar on Tuesday as a strengthening greenback against major crosses and elevated global crude prices spooked investors.
Foreign fund outflows amid uncertainties over the West Asia crisis further weighed on the local unit, forex traders said.
Speaking on the outlook of the Indian National Rupee (INR) against teh US Dollar (USD), Jateen Trivedi, VP Research — Commodity & Currency at LKP Securities, said the Indian Rupee traded weak near 93.90, down 0.36%, as persistent West Asia tensions and rising crude prices continue to weigh on sentiment, with higher oil costs worsening India’s import outlook. Despite some positive signals on de-escalation, the currency remains under pressure amid sustained global uncertainty.
“The rupee is expected to trade in a weak range of 93.25–94.25, with downside bias likely to persist until clear progress in Iran peace talks emerges,” the LKP Securities expert added.
Stock market today
Speaking on the outlook of the Nifty 50 today, Ajit Mishra, SVP — Research at Religare Broking Ltd, said the index may face immediate resistance around 23,200, with a stronger hurdle in the 23,400–23,600 zone. On the downside, the 22,700–22,500 band is likely to act as an immediate support area if the correction resumes.
“Given the still-elevated volatility and event-driven global backdrop, participants are advised to continue with a hedged approach and maintain positions on both sides until there is greater clarity on the next directional move,” said Ajit Mishra of Religare Broking Ltd.
On the outlook for the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said the index ended the session on a positive note and is currently positioned in an oversold zone across multiple timeframes. On the daily chart, a positive divergence is visible in the RSI, which is on the verge of a bullish crossover. This technical setup suggests a potential pullback towards its short-term mean, with the 10-day SMA near the 54,000 level.
“The immediate target is seen at 53,000; a sustained move above this level could lead the index towards 54,000, while support is positioned at 51,500 levels,” said Vatsal Bhuva of LKP Securities.
Stocks to buy today
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these eight buy-or-sell stocks for intraday trading: HUL, Infosys, HDFC Bank, BSE, ONGC, TVS Motor, Paytm, and Syrma SGS Technology.
Sumeet Bagadia’s stock recommendations today
1] HUL: Buy at ₹2091, Target ₹2240, Stop Loss ₹2017; and
2] Infosys: Buy at ₹1278, Target ₹1368, Stop Loss ₹1233.
Ganesh Dongre’s buy or sell stocks
3] HDFC Bank: Buy at ₹765, Target ₹810, Stop Loss ₹740;
4] BSE: Buy at ₹2805, Target ₹3200, Stop Loss ₹3600; and
5] ONGC: Buy at ₹268, Target ₹285, Stop Loss ₹262.
Shiju Koothupalakkal’s intraday stocks for today
6] TVS Motor Company: Buy at ₹3479, Target ₹3600, Stop Loss ₹3400;
7] Paytm: Buy at ₹1035, Target ₹1100, Stop Loss ₹1010; and
8] Syrma SGS Technology: Buy at ₹790, Target ₹840, Stop Loss ₹766.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.