The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a subdued note on Wednesday, tracking mixed global cues as investors assess the impact of a sharp selloff in global technology and semiconductor stocks.
Asian markets traded mixed in early deals, while Wall Street ended lower overnight, dragged down by steep declines in major technology counters.
Domestic equities witnessed broad-based selling pressure on Tuesday, with losses spreading across sectors and market segments.
The BSE Sensex plunged 893.39 points, or 1.16%, to close at 76,200.68, while the NSE Nifty 50 dropped 278.80 points, or 1.16%, to settle at 23,824.10, marking one of the sharpest single-day declines in recent weeks.
US-Iran Peace talks progress
Investor sentiment received a boost after the Republican-controlled US Senate voted to end the country’s military involvement in Iran. Adding to signs of progress, US President Donald Trump announced that Iran’s unfrozen assets would remain under Washington’s oversight and could only be used to purchase food and medical supplies from the United States. The move addresses a key sticking point in ongoing negotiations, with both Washington and Tehran indicating that peace talks are advancing.
US tech stocks sell-off
Nvidia’s stock fell by 4.15%, AMD’s shares decreased by 5.76%, Intel’s share price dropped by 6.14%, Micron Technology’s shares plummeted by 13.18%, Marvell Technology’s stock lost 9.36%, Microsoft’s shares increased by 1.80%, Apple’s stock dipped 0.91%, Alphabet’s shares declined by 0.77%, Tesla’s stock price decreased by 5.79%, and SpaceX’s shares rose by 0.98%.
India-US Trade deal nearing completion
On the trade front, prospects of a landmark India-US agreement also supported market sentiment. According to ANI, US Deputy Assistant Secretary in the Bureau of South and Central Asian Affairs, Bethany Poulos Morrison, said Washington is “very, very close” to finalising a historic trade pact with India.
“Looking at trade, in February 2026, we announced the intention to finally conclude the historic trade deal. We are very, very close,” Morrison said, signalling significant progress in negotiations between the two countries.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a muted start for the Indian stock market today. By 7:54 AM, the Gift Nifty was trading around the 23,861.5 level, a premium of 9 points from the Nifty futures’ previous close of 23,852.50.
Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said that the Indian equity markets are expected to trade with a cautious undertone as improving sentiment stemming from progress in the US–Iran peace negotiations is being offset by weakness in global technology stocks and concerns over a more hawkish US Federal Reserve. Investor sentiment remains mixed, with renewed pressure on global equities following a sharp sell-off in US technology shares amid valuation concerns and uncertainty over future spending trends, while expectations of prolonged higher interest rates continue to weigh on risk appetite.
US markets ended sharply lower overnight, although Asian equities are showing signs of a technical rebound in early trade. Gift Nifty is also indicating a modestly positive start.
On the geopolitical front, the US–Iran peace negotiations continue to make steady progress, helping ease concerns over potential disruptions to global energy supplies and providing an underlying source of support for financial markets. However, investors are likely to remain cautious until a formal agreement is finalised and implemented, limiting the scope for a sustained improvement in risk sentiment.
Crude oil prices have extended their decline and are currently trading in the $72–73 per barrel range. Prices remained under pressure as progress in the ongoing peace negotiations and the successful resumption of tanker traffic through the Strait of Hormuz eased concerns over potential supply disruptions.
Asian Markets
Asian markets showed varied performance on Wednesday, following a recovery in technology stocks. Japan’s Nikkei 225 dropped by 0.52%, and the Topix index decreased by 0.41%. South Korea’s Kospi surged by 3.65% after experiencing a 10% decline the previous day, while the Kosdaq increased by 1.49%. Futures for the Hong Kong Hang Seng index suggested a higher start.
Crude oil prices
Crude oil prices continued to drop as an increasing number of tankers traversed the Strait of Hormuz. The price of Brent crude oil decreased by 0.99% to $76.32 per barrel, while the US West Texas Intermediate (WTI) crude fell by 1.05% to $72.44.
Gold, silver rates today
Gold prices continued to decrease. The spot price of gold decreased by 0.8% to $4,083.77 per ounce, and silver prices fell by 1.1% to $60.86.
India VIX today
Sachin Gupta, VP- Technical Research at Choice Broking, said that the volatility index, India VIX, surged by 8.56% to close at 13.94, indicating a sharp rise in market uncertainty and nervousness among market participants.
Stock market today
Speaking on the outlook for the Nifty 50 today, Ajit Mishra, SVP — Research at Religare Broking, said, technically, the lack of follow-through buying in the Nifty 50 near the 100-day EMA hurdle placed at 24,150 reaffirms the cautious undertone and expiry-related positioning.
According to Mishra, the index is now approaching a crucial support zone in the 23,750–23,650 range, which coincides with the 20-day EMA and a recent gap area. Sustaining above this zone will be critical for the resumption of the prevailing gradual uptrend. Given the mixed setup, we advocate a stock-specific approach, favouring relative outperformers while maintaining disciplined risk management.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes the Bank Nifty continues to trade with a cautious undertone, reflecting profit-booking after its recent rally. From a technical perspective, the 57,500–57,600 region is now expected to act as the immediate resistance zone. A sustained move above this band would be required to revive bullish momentum and could pave the way for a recovery towards the 57,800–58,000 region.
On the downside, the 57,000 level remains a crucial support. A decisive break below this level could intensify selling pressure and drag the index towards the 56,800–56,600 support zone. Overall, the near-term technical outlook remains cautious. A sustained breakout above the 57,500–57,600 resistance zone will be essential to restore bullish momentum and confirm the continuation of the broader recovery trend.
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:Ltd (Naukri), Ltd, Ltd,Ltd, Ltd, Ltd, Ltd, and Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Info Edge (India) in cash at ₹1,012; SL at ₹980; TGT at ₹1086
Buy Laurus Labs in cash at ₹1,482; SL at ₹1,433; TGT at ₹1,590
Ganesh Dongre’s buy or sell stocks
Buy Dr Reddys at ₹1,302; SL at ₹1,275; TGT at ₹1,345
Buy Sun Pharma at ₹1,868; SL at ₹1,840; TGT at ₹1,920
Buy Asian Paints at ₹2,662; SL at ₹2,320; TGT at ₹2,720
Shiju Koothupalakkal’s intraday stocks for today
Buy Ather Energy cmp: ₹1,006; Target: ₹1,070; Stop loss: ₹975
Buy Balu Forge Industries cmp: ₹471; Target: ₹500; Stop loss: ₹460
Buy Tenneco Clean Air India cmp: ₹600; Target: ₹635; Stop loss: ₹585
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.