Indian Stock Market Ends Lower Amid Global Headwinds
The Indian stock market finished marginally lower on Wednesday. Cautious sentiment prevailed among investors. Persistent global macroeconomic and geopolitical issues weighed heavily on risk appetite. Fresh buying interest remained limited throughout the trading session.
Uncertainty over U.S. trade and tariff developments created a cloud of doubt. Escalating civilian unrest in Iran added to the global anxiety. Rising prospects of U.S. military intervention heightened tensions across the Middle East. These factors collectively suppressed market enthusiasm.
Market Action Driven by External Cues
Overall market action was primarily driven by external cues. Investors remained cautious and highly selective in their positioning. They avoided aggressive moves, preferring a wait-and-watch approach. The broader environment dictated the day's trading rhythm.
Silver and Gold Rates Face Downward Pressure
In the international market, the silver price came under significant pressure today. The COMEX silver price opened with a noticeable downside gap. It is currently quoting at $90.620 per ounce. This represents a decline of 1.85% from yesterday's closing price.
On the domestic front, the MCX silver rate finished 1.59% higher on Thursday. It closed at ₹2,92,601 per kg. Meanwhile, gold prices also faced selling pressure internationally. The COMEX gold price opened lower and is currently at $4,606 per ounce. This marks a 0.38% drop from the previous day's close.
Domestically, the MCX gold rate finished flat on Thursday. It settled at ₹1,43,120 per 10 grams. The precious metals market reflected the broader risk-off mood.
US-Iran Tensions Escalate, UN Meeting Called
Amid escalating tensions between the US and Iran, the UN Security Council scheduled an emergency meeting. The meeting was set for Thursday to discuss Iran's deadly protests. The United States formally requested this discussion.
This development left the entire world guessing about US President Donald Trump's next move. On Thursday, Trump appeared to change his stance while speaking to the BBC. He stated, "We've been told that the killing in Iran is stopping." He added, "And there's no plan for executions… I've been told that on good authority." His comments introduced new uncertainty into an already volatile situation.
Technical Outlook for Nifty 50 and Bank Nifty
Ponmudi R, CEO at Enrich Money, shared his analysis on the Nifty 50 index. "After a flat-to-soft opening, the Nifty 50 index gradually drifted lower," he said. The index retested key support zones before a modest late recovery attempt. Buying interest emerged near the previous day's low around 25,603. This enabled the index to defend the 25,600 zone.
However, follow-through buying remained absent. The index failed to sustain higher levels. Repeated rejection near the 25,900 zone continues to cap the upside. Immediate resistance is now positioned around 25,800. On the downside, a decisive break below 25,600 could trigger further weakness toward 25,500–25,450.
"Momentum indicators remain weak," Ponmudi noted. The RSI near 40 reflects a bearish bias without oversold conditions. The MACD stays in negative territory. Intraday structure indicates that bears continue to dominate on rallies. Selective buying only emerges at lower support levels.
Bank Nifty Remains Under Pressure
Regarding the Bank Nifty index, Ponmudi provided a detailed technical view. The index opened on a negative note and remained under early pressure. Although it attempted an intraday recovery, the move faced decisive rejection. The 59,700–59,800 zone acted as strong overhead resistance.
Technically, prices continue to trade below a falling trendline. This keeps the broader structure weak. It suggests today's rebound was corrective, not trend-reversing. Repeated failure to sustain above 59,750–59,800 highlights persistent supply.
Immediate support is seen at 59,400–59,350. The 59,000–59,100 zone remains a key demand area. A sustained breakout above 59,800 is required for positive momentum shift. A decisive breakdown below 59,350 could invite renewed selling pressure toward 59,000.
Expert Stock Recommendations for Today
Stock market experts recommended eight intraday stocks for today. Sumeet Bagadia of Choice Broking, Ganesh Dongre of Anand Rathi, and Shiju Koothupalakkal of Prabhudas Lilladher shared their picks.
Sumeet Bagadia's Recommendations
- NTPC: Buy at ₹349.10, Target ₹380, Stop Loss ₹310. The stock trades above its key EMAs, reinforcing a bullish bias. RSI at 65.62 supports the uptrend.
- PNB: Buy at ₹128.68, Target ₹142, Stop Loss ₹122. The stock marked a fresh 52-week high, signaling trend continuation. It trades comfortably above all key moving averages.
Ganesh Dongre's Recommendations
- Mankind Pharma: Buy at ₹2240, Target ₹2320, Stop Loss ₹2180. A bullish reversal pattern suggests a potential retracement to ₹2320.
- LT: Buy at ₹3868, Target ₹4050, Stop Loss ₹3800. The stock exhibits a strong bullish pattern with support at ₹3800.
- SAIL: Buy at ₹152, Target ₹162, Stop Loss ₹145. Another stock showing a continuous bullish pattern for short-term traders.
Shiju Koothupalakkal's Recommendations
- HBL Engineering: Buy at ₹878, Target ₹930, Stop Loss ₹860. The stock took support near ₹838, indicating a significant revival with a positive candle formation.
- BEML: Buy at ₹1812, Target ₹1910, Stop Loss ₹1775. After consolidation, the stock picked up with positive volume participation, improving the bias.
- Indian Bank: Buy at ₹846, Target ₹900, Stop Loss ₹828. The stock gained strength after a correction, taking support near the 50-DEMA at ₹816.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies. We advise investors to consult certified experts before making any investment decisions.
