Stock market today: Gift Nifty down 7 pts; key levels for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 7.30 points, or 0.03 per cent, down at 25,218 hinting at a muted start for the domestic market on Wednesday.
- Oct 8, 2025,
- Updated Oct 8, 2025 8:16 AM IST
Indian equity benchmark indices are likely to open on a muted note on Wednesday, tracking the muted global cues. However, strong pre-earnings updates may drive the sentiments at Dalal Street but profit booking is likely to cap some gains during the session.
Nifty futures on the NSE International Exchange traded 7.30 points, or 0.03 per cent, down at 25,218 hinting at a muted start for the domestic market on Wednesday. Asian stocks tracked Wall Street lower on Wednesday due to political turmoil. Japan's Nikkei was mostly flat, while Hang Seng edged lower.
"We expect Indian equities to remain range-bound in the near term with stock specific action, driven by sectoral developments, festive demand trends and the upcoming earnings announcements," said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
US stocks closed lower on Tuesday as investors looked to secondary indicators. The Dow Jones Industrial Average shed 91.99 points, or 0.20 per cent, to 46,602.98, the S&P 500 fell 25.69 points, or 0.38 per cent, to 6,714.59 and the Nasdaq Composite lost 153.30 points, or 0.67 per cent, to 22,788.36.
The US dollar rose to its strongest in more than two months in early Asian trading on Wednesday as risks around the US government shutdown intensified, sparking fresh investor worries and boosting demand for safe-haven assets. The dollar index rose 0.3 per cent to as much as 98.91.
Gold pushed through $4,000 an ounce to hit a record on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty. Oil prices edged higher in early trade on Wednesday as markets started to brush off oversupply fear for the time being. Brent crude futures was up 40 cents, or 0.6 per cent, to $65.85 a barrel.
Looking ahead, some consolidation after the recent up move cannot be ruled out but the overall tone is expected to stay positive, said Ajit Mishra, SVP of Research at Religare Broking. "Participants should continue focusing on selective stock picking and favor sectors or themes that exhibit consistent strength," he said.
Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 1,440.66 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 452.57 crore on a net-net basis.
Nifty50 & Sensex outlook As Nifty50 hovers near a crucial juncture, immediate support lies in the 25,000–24,970 zone. A decisive breakdown below 24.970 could pave the way for a deeper correction, with the next potential downside target near 24,800, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
"On the flip side, the 25,200–25,230 zone will act as a critical resistance. A sustained move above 25,230 may signal strength and could reignite the pullback rally, potentially leading to further upside in the short term," he said.
The short-term outlook of the market remains positive. We believe that the 20-day SMA and the 25,000–24,950/81,700-81,500 zones will act as key support levels for traders. As long as the market remains above these levels, the bullish sentiment is likely to continue, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
"On the flip side, 25,200/82,300 and 25,275/82,500 would serve as key resistance levels for the bulls. For day traders, buying on intraday dips and selling on rallies would be the ideal strategy. However, below 24,950/81,500, the uptrend could become vulnerable," he said.
Nifty Bank outlook Nifty Bank on a daily scale formed a green candle with a long upper shadow, indicating selling pressure at higher levels. Thus, 56500 will act as an immediate hurdle for the index. If the index sustains above 56,500, the rally could extend towards 57,000-57,500 levels, said Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C Mehta Investment Interrmediates.
"On the downside, psychological level 56000 will act as immediate support for Bank Nifty followed by the recent breakout point of 55,700. Hence, traders are advised to maintain a buy-on-dips strategy in the short term," he said.
Going ahead a follow through strength above 56,500 levels will open further upside towards 57,300 levels in the coming weeks. Failure to move above 56,500 on a closing basis will lead to some consolidation in the range of 56,500-55,500, said Bajaj Broking. "We believe bias remains positive and dips should be used as a buying opportunity."
Indian equity benchmark indices are likely to open on a muted note on Wednesday, tracking the muted global cues. However, strong pre-earnings updates may drive the sentiments at Dalal Street but profit booking is likely to cap some gains during the session.
Nifty futures on the NSE International Exchange traded 7.30 points, or 0.03 per cent, down at 25,218 hinting at a muted start for the domestic market on Wednesday. Asian stocks tracked Wall Street lower on Wednesday due to political turmoil. Japan's Nikkei was mostly flat, while Hang Seng edged lower.
"We expect Indian equities to remain range-bound in the near term with stock specific action, driven by sectoral developments, festive demand trends and the upcoming earnings announcements," said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.
US stocks closed lower on Tuesday as investors looked to secondary indicators. The Dow Jones Industrial Average shed 91.99 points, or 0.20 per cent, to 46,602.98, the S&P 500 fell 25.69 points, or 0.38 per cent, to 6,714.59 and the Nasdaq Composite lost 153.30 points, or 0.67 per cent, to 22,788.36.
The US dollar rose to its strongest in more than two months in early Asian trading on Wednesday as risks around the US government shutdown intensified, sparking fresh investor worries and boosting demand for safe-haven assets. The dollar index rose 0.3 per cent to as much as 98.91.
Gold pushed through $4,000 an ounce to hit a record on Wednesday, driven by investors seeking safety from mounting economic and geopolitical uncertainty. Oil prices edged higher in early trade on Wednesday as markets started to brush off oversupply fear for the time being. Brent crude futures was up 40 cents, or 0.6 per cent, to $65.85 a barrel.
Looking ahead, some consolidation after the recent up move cannot be ruled out but the overall tone is expected to stay positive, said Ajit Mishra, SVP of Research at Religare Broking. "Participants should continue focusing on selective stock picking and favor sectors or themes that exhibit consistent strength," he said.
Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 1,440.66 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 452.57 crore on a net-net basis.
Nifty50 & Sensex outlook As Nifty50 hovers near a crucial juncture, immediate support lies in the 25,000–24,970 zone. A decisive breakdown below 24.970 could pave the way for a deeper correction, with the next potential downside target near 24,800, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
"On the flip side, the 25,200–25,230 zone will act as a critical resistance. A sustained move above 25,230 may signal strength and could reignite the pullback rally, potentially leading to further upside in the short term," he said.
The short-term outlook of the market remains positive. We believe that the 20-day SMA and the 25,000–24,950/81,700-81,500 zones will act as key support levels for traders. As long as the market remains above these levels, the bullish sentiment is likely to continue, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
"On the flip side, 25,200/82,300 and 25,275/82,500 would serve as key resistance levels for the bulls. For day traders, buying on intraday dips and selling on rallies would be the ideal strategy. However, below 24,950/81,500, the uptrend could become vulnerable," he said.
Nifty Bank outlook Nifty Bank on a daily scale formed a green candle with a long upper shadow, indicating selling pressure at higher levels. Thus, 56500 will act as an immediate hurdle for the index. If the index sustains above 56,500, the rally could extend towards 57,000-57,500 levels, said Hrishikesh Yedve, AVP Technical and Derivative Research at Asit C Mehta Investment Interrmediates.
"On the downside, psychological level 56000 will act as immediate support for Bank Nifty followed by the recent breakout point of 55,700. Hence, traders are advised to maintain a buy-on-dips strategy in the short term," he said.
Going ahead a follow through strength above 56,500 levels will open further upside towards 57,300 levels in the coming weeks. Failure to move above 56,500 on a closing basis will lead to some consolidation in the range of 56,500-55,500, said Bajaj Broking. "We believe bias remains positive and dips should be used as a buying opportunity."