Indian equity markets head into Wednesday’s session on a cautious note as GIFT Nifty signals a subdued-to-negative start, mirroring persistent concerns around the weakening rupee and mixed global cues. The benchmark Nifty remains range-bound between 25,700 and 26,100, with the index once again failing to hold above the 26,000 mark in the previous session.
Key Market Drivers
Rupee under pressure: The domestic currency slipped to fresh lows against the US dollar on Tuesday, keeping sentiment fragile and limiting risk appetite.
Global cues mixed: US markets closed uneven after recent jobs data, while falling crude prices offered some macro relief.
Range-bound setup: Technical indicators suggest limited upside unless a strong trigger emerges; immediate downside support is seen near 25,750–25,800.
Stocks in Focus
Reliance Industries (RIL): In focus after Morgan Stanley raised its target price, citing strong value creation potential and improving free cash flows across businesses from 2026.
Banking & Financials: SBI, RBL Bank, and L&T Finance may see interest following constructive management commentary from global brokerages.
Consumption & Internet plays: Avenue Supermarts, Eternal, PB Fintech, and Meesho remain on the radar amid divergent brokerage views.
Others to watch: Saregama, Ola Electric, Akzo Nobel, NBCC, Glenmark, Indian Overseas Bank, and Vedanta due to stock-specific developments.
Primary Market Update
ICICI Prudential AMC IPO: Share allotment is scheduled for today after healthy institutional participation, which could influence secondary market sentiment.
Market View
With macro headwinds intact and no immediate catalysts, traders may continue to adopt a stock-specific approach, while broader indices are likely to consolidate within the established range. Directional clarity is expected only if currency stability improves or global cues turn decisively supportive.
