The Indian stock market opened lower on Wednesday. Both major indices, the Nifty 50 and the BSE Sensex, extended losses from the previous session. Market sentiment took a hit from growing geopolitical tensions and fresh foreign fund outflows.
Market Opens in the Red
The Nifty 50 index began trading at 25,648.55. This marked a decline of 83.75 points, or 0.33 percent. The BSE Sensex started the day at 83,370.06. It was down by 257.63 points, or 0.31 percent.
Key Factors Pressuring the Market
Investors exercised caution as several international headwinds persisted. The primary concern involves new 25 percent tariffs announced by the United States. These tariffs target nations that continue trading with Iran. The move escalates geopolitical risks in an already tense region.
Another significant factor is the ongoing selling by foreign portfolio investors, or FPIs. Their continued outflows from Indian equities added downward pressure on domestic markets. This selling activity has negatively impacted overall market sentiment.
Technical Outlook for Nifty 50 and Bank Nifty
Sagar Doshi, Senior Vice President of Research at Nuvama Professional Clients Group, shared his analysis.
Nifty 50
The Nifty 50 corrected by over 800 points recently. It found short-term support just below the 25,500 level, which represents a 50 percent retracement of the strong uptrend from October to January. A sustained move above 25,700 could trigger further short-covering, potentially pushing the index toward 25,950-26,000. Immediate support is seen around 25,600.
Bank Nifty
The Bank Nifty index has held above its previous day's low for two consecutive sessions. It found support near the 59,150 level, aligning with a two-month rising trendline. The current undercurrent suggests the index could move toward 59,900 and beyond. A 'buy on dips' strategy is recommended near 59,500, with a stop loss placed below 59,300.
Stocks to Consider on Wednesday
Sagar Doshi of Nuvama recommended three stocks for purchase on Wednesday.
Alkem Laboratories Ltd
Recommendation: BUY
Last Close Price (LCP): ₹5,863
Stop Loss (SL): ₹5,690
Target (TGT): ₹6,180
The stock has broken out from a bullish cup and handle pattern on weekly charts. This follows a stronger breakout observed in August 2025. A quick 5-7 percent upward move could unfold from current levels.
Varun Beverages Ltd
Recommendation: BUY
LCP: ₹501
SL: ₹483
TGT: ₹532
Varun Beverages recently crossed above its 200-day moving average. It also found support at its 38.2 percent retracement level from 2025. A short-term trendline breakout on daily charts over the past fortnight could fuel positive momentum from the current market price.
Nestle India Ltd
Recommendation: BUY
LCP: ₹1,318
SL: ₹1,278
TGT: ₹1,382
A 15-month cup and handle formation has broken out on both daily and weekly charts. Stronger price action is visible on the daily timeframe, suggesting a smoother upside potential. Tailwinds for FMCG and defensive stocks support an initial target above 1,380.
Disclaimer: The views and recommendations above are from individual analysts or broking firms, not Mint. Investors should consult certified experts before making any investment decisions.
