Nifty Rallies Amid Global Concerns, Eight Stocks to Watch

Indian Stock Market Ends Red After Volatile Session

The Indian stock market ended on a red note on Thursday, following weak global market sentiments after Israel's attack on Lebanon. The Nifty 50 index crashed 222 points and closed at 23,775, while the BSE Sensex shed 931 points and closed at 76,631. The Bank Nifty index nosedived 882 points and closed at 54,821.

On the sectoral front, metals stood out as relative outperformers, advancing strongly despite the broader weakness. The move appears to be driven by improving earnings expectations and supportive trends in global metal prices, particularly benefiting export-oriented companies. This selective strength reflects a shift towards sectors with clearer earnings visibility even in a volatile environment.

Gift Nifty Indicates a Firm Opening

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The Gift Nifty index is trading green during the early morning session on Friday, indicating a firm opening for the Indian stock market. Market experts expect positive sentiments on Wall Street to trickle down to other global bourses, including Dalal Street. According to Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, the Indian stock market is set to open on a firm note, with Gift Nifty indicating a start above the 23,900 mark, supported by positive global cues.

US-Iran War Update

The US is set to host Israel-Lebanon talks next week on the Hezbollah conflict, following Israel's attacks on Lebanon on Wednesday. The negotiations will take place at the US State Department in Washington, AP reported, citing a US official. The report says the US delegation will be led by Ambassador to Lebanon Michel Issa, while Israel's delegation will be headed by its Ambassador to the US, Yechiel Leiter. The talks aim to address the ongoing conflict and seek a resolution between Israel and Hezbollah.

Impact on Indian Stock Market

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Hariprasad K of Livelong Wealth said that while global sentiment has improved, it is still highly event-driven. Any shift in geopolitical developments can quickly alter risk appetite, especially through its impact on crude oil prices. This keeps the upside constructive but not fully stable.

Gold and Silver Rates

Following the WTI crude oil price uptick during early morning trade in the Asian market, gold and silver prices saw selling pressure in the international market. The COMEX gold rate today is around $4,790/oz, logging an intraday loss of over 0.50%. The COMEX silver rate today is around $75.75/oz, logging an intraday loss of more than one per cent.

IT Stocks

Domestically, the focus will be on the IT sector following the announcement of the January–March quarter results from Tata Consultancy Services (TCS). The company delivered a steady quarter with profit growth and a healthy dividend announcement, offering near-term comfort. However, selling in the IT stocks during the Thursday session on Wall Street is expected to keep the Indian IT pack in focus.

India VIX

From a volatility standpoint, the market remains in a high-risk environment. India VIX remains elevated above 20, indicating that uncertainty is still priced in. This has direct implications for derivatives, where option premiums remain expensive and the usual time-decay benefits are limited.

FII-DII Data

FIIs remained net sellers on Thursday by offloading Indian shares worth ₹1,711 crore in the cash segment. However, DIIs sought to stabilise the Indian indices by adding shares worth ₹956 crore to their portfolios.

Stock Market Outlook

Nilesh Jain, VP & Head of Technical and Derivative Research at Centrum Finverse, said that the Nifty 50 index encountered strong resistance near the 24,000 mark, bringing an end to its five-day winning streak. It formed a small bearish candle on the daily chart amid heightened volatility. Going ahead, a decisive breakout above 24,000 is crucial to trigger a potential short-covering rally towards the 24,500 zone.

Bank Nifty Outlook

Ponmudi R, CEO of Enrich Money, said that the Bank Nifty index is currently trading near the 54,800 zone after being rejected around 55,600, indicating supply pressure at higher levels. The index faces a strong resistance cluster in the 55,800–56,000 zone.

Stock Recommendations

Market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these eight buy-or-sell stocks for intraday trading: