Indian Stock Market Update

Market Performance

The Indian stock market extended its momentum on Monday, following positive global cues after the US Supreme Court's decision on Trump's tariffs. The Nifty 50 index rose 141 points to close at 25,713, while the BSE Sensex surged 479 points to 83,294. The Bank Nifty index finished 92 points higher at 61,264.

Sector Performance

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Among sectors, the PSU Bank index outperformed, rallying 1.35%, while the IT index lost the most, shedding over 1.5%.

Commodity Prices

• Gold: The COMEX gold rate erased its early morning gains, trading over 0.50% lower at $5,200/oz.
• Silver: The COMEX silver rate retraced from its intraday high, trading close to its previous day's close. However, the Shanghai silver price is trading at a strong premium of over $7 per ounce.

Market Outlook

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• Nifty 50/Sensex: The 20-day SMA or 25,600/83,000 will act as an immediate reference point for day traders. A successful breakout of 25,800/83,600 could push the market up to 25,950–26,000/84,000-84,200.
• Bank Nifty: The Bank Nifty continues to trade firmly above its 20-, 50-, 100-, and 200-day EMAs, highlighting sustained institutional participation across both private and PSU banking names. Immediate support is positioned in the 60,900–60,600 zone.

Institutional Data

• DIIs: Were net sellers at ₹1,417.12 crore.
• FIIs: Were net buyers to the tune of ₹3,550.66 crore in the cash market.

Stock Recommendations

• Bharat Forge: Buy at ₹1832, Target ₹1962, Stop Loss ₹1767.
• Torrent Pharma: Buy at ₹4307, Target ₹4610, Stop Loss ₹4155.
• M&M: Buy at ₹3440, Target ₹3700, Stop Loss ₹3350.
• Vedanta: Buy at ₹680, Target ₹715, Stop Loss ₹660.
• PNB: Buy at ₹130, Target ₹138, Stop Loss ₹124.
• Ather Energy: Buy at ₹718, Target ₹755, Stop Loss ₹700.
• Paytm: Buy at ₹1173, Target ₹1230, Stop Loss ...