The Indian stock market continued its upward trajectory on Wednesday, marking a strong performance for the third consecutive session. Buoyed by significant activity in sectors like Realty, PSU Banks, and Consumer Durables, the Nifty 50 index rose by 73 points, closing at 22,907. Meanwhile, the BSE Sensex increased by 147 points, finishing at 75,449, and the Nifty Bank index surged by 388 points, ending at 49,702. The impressive gains in the Nifty Midcap and Smallcap 100 indices, which soared 2.63% and 2.43%, respectively, highlighted a robust market sentiment.

Market Dynamics: A Surge in Activity

The day’s trading saw cash market volumes on the National Stock Exchange (NSE) jump by 16%, indicating heightened investor interest. The advance-decline ratio on BSE was a remarkable 2.92, suggesting that gaining stocks outnumbered those that fell, further solidifying the positive market trend.

Positive Projections for the Indian Stock Market

Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, shared an optimistic outlook for the Indian market. He noted, "With encouraging signals from Foreign Institutional Investors (FIIs) alongside sustained domestic buying, we foresee a continued recovery in the market in the short term."

Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, pointed to an important resistance level for the Nifty 50. He stated, "The index is approaching a critical resistance zone between 23,000 and 23,100. This could pose a significant challenge for the market, and we might experience some consolidation or slight dips in the next couple of sessions. Current support levels are around 22,800 to 22,750."

Insights on Bank Nifty

Hrishikesh Yedve, AVP—Technical and Derivatives Research at Asit C. Mehta, provided insights into the Bank Nifty. He observed, "The Bank Nifty started positively and ended strongly at 49,703. Technically, it has breached the 49,650 resistance, forming a substantial bullish candle, indicating strength. If it remains above this level, we can expect upward momentum to persist, with the 50,000 mark acting as a psychological barrier. Short-term traders should consider a ‘buy on dips’ strategy."

US Federal Reserve’s Latest Move

In related news, the US Federal Reserve concluded its second monetary policy meeting of 2025, maintaining its benchmark interest rate at 4.25-4.50%. This decision marks the second consecutive meeting where rates were kept steady, following the January review under the Trump administration.

Top Stocks to Watch Under ₹100

For investors looking for opportunities in stocks priced below ₹100, experts have identified several promising picks for Thursday. Here’s a quick rundown of their recommendations:

• NHPC: Buy at ₹79 to ₹80.25, with targets at ₹82, ₹84.50, ₹86, and ₹88; stop loss below ₹78.
• Patel Engineering: Buy at ₹40.50 to ₹41, with targets at ₹43, ₹45, and ₹47; stop loss at ₹39.
• Sterlite Technologies: Buy at ₹85.80, targeting ₹89.80; stop loss at ₹84.
• HFCL: Buy at ₹81.60, with a target of ₹84; stop loss at ₹80.20.
• BL Kashyap and Sons: Buy at ₹50, targeting ₹54; stop loss at ₹48 (closing basis).

Investors should consider these recommendations while keeping an eye on market trends and individual stock performances. With the market showing resilience and positive momentum, now could be a strategic time for smart investments.