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Stock market today: Gift Nifty down 95 pts; key levels for Nifty, Sensex & Nifty Bank

Stock market today: Gift Nifty down 95 pts; key levels for Nifty, Sensex & Nifty Bank

Nifty futures on the NSE International Exchange traded 95.10 points, or 0.38 per cent, down at 25,170.50, hinting at a negative start for the domestic market on Wednesday.

Pawan Kumar Nahar
Pawan Kumar Nahar
  • Updated Jul 16, 2025 8:33 AM IST
Stock market today: Gift Nifty down 95 pts; key levels for Nifty, Sensex & Nifty BankShares of Power Mech Projects increased 1.98 per cent, or Rs 63.75, to Rs 3282.30 on the BSE at 11:12 a.m.

Indian benchmark indices are set to open lower on Wednesday amid weak global cues. Weak earnings from US firms, along with India Inc has dented the sentiments. Besides that, rising fears of inflation in the US is also testing the investors' nerves. Besides that, the developments around India and the US trade deal shall also be keenly tracked.

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Nifty futures on the NSE International Exchange traded 95.10 points, or 0.38 per cent, down at 25,170.50, hinting at a negative start for the domestic market on Wednesday. Asian stock markets were under pressure on Wednesday. KOSPI tanked 0.7 per cent, while Nikkei also edged lower. Hang Seng was struggling to hold its gains.

Wall Street benchmark indices ended mixed amid key inflation report and a flurry of bank earnings failed to excite investors. The Nasdaq Composite gained 37.47 points, or 0.18 per cent, to finish at 20,677.80. The Dow Jones Industrial Average fell 436.36 points, or 0.98 per cent, to 44,023.29, and the S&P 500 lost 24.80 points, or 0.40 per cent, to 6,243.76.

The dollar stuck close to a multi-week high against major peers. The dollar index was little changed at 98.545 after rising as high as 98.699 on Tuesday for the first time since June 23. US 10-year Treasury yields rose as high as 4.495 per cent on Wednesday, the highest since June 11.

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In the commodities, Gold added 0.3 per cent to around $3,332. Brent crude futures fell 5 cents to $69.16 a barrel, while US West Texas Intermediate crude futures declined 9 cents to $66.89 a barrel. Both contracts settled more than $1 lower in the previous session. Among the cryptocurrencies, Bitcoin added about 1 per cent.

Participants drew comfort from the further easing of CPI inflation, which triggered notable buying in rate-sensitive sectors in hopes of a potential rate cut, said Ajit Mishra, SVP of Research at Religare Broking. "We suggest maintaining a cautious stance on the index and adopting a selective approach on the sectoral front."

Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 120.47 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 1,555.03 crore on a net-net basis.
 

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Nifty & Sensex outlook

A decisive move above 25,260 in the coming sessions could lead to a rally towards 25,400 and beyond, said Rupak De, Senior Technical Analyst at LKP Securities. "On the other hand, a failure to sustain above 25,260 might weaken the bulls’ grip on the market. In that case, the Nifty may decline towards the support zone of 25,000 and 24,920–24,900," he said.

The key support zones are 25,100 / 82,300. Above these levels, the pullback formation is likely to continue. On the higher side, the 20-day SMA at 25,300 / 82,900 would act as a crucial hurdle for the bulls, said Shrikant Chouhan, Head of Equity Research at Kotak Securities. "If the market successfully surpasses the 20-day SMA, it could move up to 25,450–25,500 / 83,300–83,500," he said.
 

Nifty Bank Outlook

We expect Nifty Bank to extend the same and only a move above 57,600 will signal extended rally towards 58,500 levels in the coming weeks, said Bajaj Broking. "Key short-term term support is placed at 56,000–55,500 region, representing a confluence of the 50-day EMA and the key retracement level. The broader trend remains positive," it added.

Nifty Bank formed a bullish engulfing candle on the daily chart, indicating strength. The short-term hurdle is placed near 57,360, while trend line support is located around 56,500, said Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C Mehta Investment Interrmediates. "As long as the index holds above 56,500, traders are advised to adopt a buy-on-dips strategy."

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jul 16, 2025 8:33 AM IST
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