Nifty Indicates Muted Opening, India VIX, Gold, and Silver Prices in Focus - Top 8 Stocks to Watch

Indian Stock Market Witnesses Strong Buying on Wednesday

The Indian stock market witnessed a surge on Wednesday, following strong global cues on crashing crude oil prices. The key benchmark indices, including the Nifty 50 and BSE Sensex, recorded significant gains. The Nifty 50 index skyrocketed 298 points and closed at 24,330, while the BSE Sensex surged 940 points and closed at 77,958.

The Bank Nifty index also zoomed 1,434 points and closed at 55,981. The rally was broad-based, with banking, financials, and realty leading the charge, while energy and FMCG remained relatively subdued. Broader markets continued to outperform, with midcap and smallcap indices advancing around 2% each, reflecting improved risk appetite.

Market Outlook for Thursday

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The Gift Nifty live chart is signalling a muted opening for the Indian stock market on Thursday. The index opened flat at 24,515 and traded in a tight 24,426 to 24,431 range for the first 30 minutes of the Opening Bell. According to Avinash Gorakshkar, a SEBI-registered fundamental equity analyst, the Gift Nifty index is trading red by losing over 75 points during the Opening Bell, which is signalling a negative to flat opening for the Indian stock market today.

Global Sentiment Strengthens

Global sentiment has strengthened amid growing expectations of a potential de-escalation in Middle East tensions. Indications from Donald Trump that the U.S. has paused its more assertive stance around the Strait of Hormuz, alongside expectations of Iran's response to a U.S. proposal aimed at resolving the conflict, have supported a recovery in risk appetite. This has translated into a relief rally across global equities, with Indian markets also benefiting from the improved tone.

Gold and Silver Prices

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Crude has retreated meaningfully from recent highs above $110 and is now consolidating in the $95–97 range, offering relief on inflationary pressures and easing concerns around the broader macroeconomic outlook. This has strengthened the bull's conviction as the buying in gold and silver continues on Thursday. The COMEX gold rate today is oscillating around $4,715/oz, logging an intraday gain of 0.45%. Likewise, the COMEX silver rate today is oscillating around $78.50/oz, logging an intraday gain of nearly 1.50%.

India VIX Index

The volatility in the Indian stock market is expected to continue as the India VIX index closed at 16.68, logging an intraday loss of around 6.87%. However, the volatility is expected to remain limited until the index is below 18.

Market Experts' Outlook

Speaking on the outlook of the Nifty 50 and Sensex today, Shrikant Chouhan, Head Equity Research, Kotak Securities, said that the uptrend formation is likely to continue in the near future. For day traders, 24,200/77,500 and 24,100/77,300 would be crucial support zones. As long as the market trades above these levels, the uptrend is likely to continue.

On the outlook of the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said that the index has delivered a strong close above its swing high, confirming a breakout from a downward consolidation on the daily chart. It is now trading above its 20-day moving average and approaching the 50-day SMA, indicating improving trend strength.

Stock Recommendations

Market experts have recommended the following eight stocks for intraday trading: