Stock Market Update: Trade Setup Ahead of Nifty 50, Gold and Silver Prices, and Trump's State of the Union Address; Eight Stocks to Consider for Investment

Indian Stock Market Report

Key Benchmark Indices Correct Sharply

The Nifty 50 index corrected by 288 points and ended at 25,424, while the BSE Sensex crashed 1,068 points and closed at 82,225. The Bank Nifty index nosedived 216 points and closed at 61,047.

Sectoral Performance

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The IT index lost the most, shedding over 4.45%, whereas the Metal index outperformed, rallying over 1%.

Market Outlook

Despite weak market sentiment, the Indian stock market is expected to see a flat to mildly positive start on Wednesday, tracking a modest overnight recovery on Wall Street and a constructive tone across Asian markets. However, the overall undertone is expected to remain cautious, as sentiment stays subdued amid persistent US–Iran geopolitical tensions and firm crude oil prices.

Nifty 50 and Sensex Outlook

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The intraday market texture is weak, but a fresh selloff is possible only after the market breaches the 200-day Simple Moving Average (SMA) or 25,350/82,000. If the market trades above this level, it could bounce back to 25,500-25,620/82,500-82,800.

Bank Nifty Outlook

The Nifty Bank is displaying a slightly fragile near-term setup but has managed to hold above the crucial 61,000 mark. The index is encountering resistance in the 61,500–61,700 zone, aligned with recent swing highs. Immediate support is placed around 60,900–60,600.

Commodities

The COMEX gold rate today is 0.45% higher at $5,200/oz, while the COMEX silver rate today is over 1% higher at $88.50/oz.

FIIs and DII Data

FIIs sold out Indian shares in cash worth ₹102.53 crore and shares worth ₹3,293.15 crore in the F&O segment on Tuesday. However, DII bought shares worth ₹3,161.22 crore in cash.