Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, began the day lower on Wednesday, continuing the selling trend from the prior trading session due to ongoing worries about new 25 percent tariffs imposed by the US on nations trading with Iran, amid increasing geopolitical tensions in the region.
Ongoing outflows from foreign portfolio investors (FPIs) also negatively impacted market sentiment.
The Nifty 50 index started at 25,648.55, declining by 83.75 points or 0.33%, whereas the BSE Sensex commenced at 83,370.06, reflecting a drop of 257.63 points or 0.31%.
Market participants exhibited caution as Indian stocks remained under pressure from international uncertainties, including ongoing tariff threats from the United States and escalated geopolitical risks. Additionally, selling by FPIs has contributed to the downward pressure on domestic markets.
Nifty 50 Outlook by Sagar Doshi, Senior Vice President- Research, Nuvama Professional Clients Group
Nifty 50
After a correction of over 800 pts Nifty 50 reversed for the short term from its 50% retracement mark just below 25,500. This retracement was of a strong 3 month uptrend seen between October and January. Sustained move above 25,700 has opened up for extended short covering towards 25,950-26,000 mark. Support can be seen at 25,600 odd.
Bank Nifty
Bank Nifty rejected a close below its previous day’s low for the past 2 trading sessions. The index managed to take support from its 2-month rising trendline near 59,150. Ongoing undercurrent is poised to allow this move to continue for 59,900+ with a buy on dip strategy near 59,500 and a stop loss below 59,300.
Stocks To Buy on Wednesday
On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Alkem Laboratories Ltd, Varun Beverages Ltd, and Nestle India Ltd.
Alkem Laboratories Ltd (BUY): LCP: ₹5,863; SL: ₹5,690; TGT: ₹6,180
Stock has broken out from a bullish cup and handle formation on weekly charts. This has been a follow up breakout to a stronger breakout seen back in August 2025. A quick 5-7% follow up in the long side can unfold on screen for this scrip.
Varun Beverages Ltd (BUY): LCP: ₹501; SL: ₹483; TGT: ₹532
Varun Beverages has recently given a crossover above its 200 DMA, while parallelly taking support at its 38.2% retracement all through last year of 2025.Adding to this a short term trendline breakout has also been witnessed on daily charts in the past fortnight which could now allow positive momentum to unfold from CMP.
Nestle India Ltd (BUY): LCP: ₹1,318; SL: ₹1,278; TGT: ₹1,382
A 15-month cup and handle formation has broken out on daily as well as weekly charts. Stronger price action is visible on daily time frame compared to weekly charts which is suggesting a smoother upside. Given the FMCG and defensive stocks tailwinds, initial target on the same open up for 1,380+
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
