Indian Stock Market Recovers with Positive Momentum
The Indian stock market made a noteworthy comeback on Wednesday, breaking a two-day downward trend. The Nifty 50 soared by 166 points, closing at 23,332, while the BSE Sensex surged 592 points to finish at 76,617. Additionally, the Bank Nifty index experienced a significant rise, climbing 520 points to reach 51,348. This rally was largely attributed to widespread buying across various sectors, despite a notable decline in trading volumes.
Trading Volumes Dip
Despite the market’s positive performance, trading volumes in the NSE cash market fell by 7% compared to Tuesday, marking the lowest activity level since March 17, 2025. This decline raises questions about market sentiment, even as all sectoral indices closed in the green.
Sector Highlights
Among the standout performers were:
- Nifty Realty: Increased by 3.6%, driven by growing expectations for a possible repo rate cut by the Reserve Bank of India (RBI) in its upcoming monetary policy meeting scheduled for April 7-9.
- Consumer Durables and FMCG: Also saw considerable gains, reflecting a broader trend of confidence among investors.
Global Trade Dynamics
Commenting on the potential impact of U.S. tariffs on the Indian stock market, Amit Jain, Co-Founder of Ashika Global Family Office Services, noted that President Donald Trump’s tariffs could introduce volatility, particularly in export-oriented sectors such as automobiles, pharmaceuticals, and IT. Jain emphasized the importance of focusing on long-term growth opportunities despite short-term fluctuations.
Market Predictions
Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, suggested that the Indian stock market might experience volatility as it reacts to tariff announcements, influenced by the global market’s initial responses.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, indicated that recent market activity hints at a potential upward trend, with immediate support for Nifty at 23,100 and resistance levels at 23,400 and 23,650.
Bank Nifty Outlook
Om Mehra, Technical Research Analyst at SAMCO Securities, mentioned that the Bank Nifty is currently fluctuating within a range of 50,700 to 51,900, suggesting a period of consolidation after a previous surge. A breakout above 51,900 is essential to reignite bullish momentum.
Recommended Stocks for Intraday Trading
Market analysts have identified several stocks for potential buying or selling today:
- Chambal Fertilisers: Buy at ₹634.20, target ₹679, stop loss ₹612.
- Lloyds Metals: Buy at ₹1329.80, target ₹1423, stop loss ₹1283.
- KFin Tech: Buy at ₹1044, target ₹1095, stop loss ₹1020.
- Axis Bank: Buy at ₹1085, target ₹1130, stop loss ₹1060.
- Dr. Reddy’s Laboratories: Buy at ₹1150, target ₹1200, stop loss ₹1120.
- GRSE: Buy at ₹1718, target ₹1820, stop loss ₹1680.
- TVS Motor: Buy at ₹2496, target ₹2600, stop loss ₹2440.
- VA Tech Wabag: Buy at ₹1435, target ₹1510, stop loss ₹1400.
- Sagility India: Sell at ₹43.30, target ₹41.50, stop loss ₹44.30.
Conclusion
As the Indian stock market shows signs of recovery, investors are advised to remain vigilant and strategically position themselves. While global trade uncertainties may introduce volatility, the strong domestic consumption narrative continues to provide a solid foundation for growth. Stay tuned for further developments as the market navigates these complex dynamics.
