Stock market today: Gift Nifty up 56 pts; levels to watch for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 56.30 points, or 0.23 per cent, up at 24,949, hinting at a positive start for the domestic market on Tuesday.
- Sep 9, 2025,
- Updated Sep 9, 2025 7:44 AM IST
Indian benchmark indices are likely to open higher on Tuesday, tracking the gains in the global peers. Traders shall be keenly awaiting the US Federal Reserve's rate cut after muted jobs data. Besides this, tariff concerns and GST benefits will also be tracked by traders amid weekly expiry of Nifty contracts.
Nifty futures on the NSE International Exchange traded 56.30 points, or 0.23 per cent, up at 24,949, hinting at a positive start for the domestic market on Tuesday. Asian stocks were trading higher on Tuesday ahead of expected Federal Reserve rate cuts. Hang Seng gained more than a per cent, while Nikkei and KOSPI added half a per cent each.
Investors remain focused on the upcoming Fed interest rate decision amid ongoing concerns over global trade tensions and softer US GDP data, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "Looking ahead, the market is expected to maintain a positive trajectory, supported by GST rate cuts benefiting key sectors and the potential Fed rate cut," he said.
US stocks settled higher on Monday as investors bet the Federal Reserve will soon lower borrowing costs to shore up economic growth. The S&P 500 climbed 0.21 per cent to end at 6,495.15 points. The Nasdaq gained 0.45 per cent to 21,798.70 points, its highest close ever. The Dow Jones Industrial Average rose 0.25 per cent to 45,514.95 points.
The dollar sank to an almost seven-week low on Tuesday as investors braced for US data revisions that could show the jobs markets in worse shape than initially thought, shoring up the case for even deeper Federal Reserve interest rate cuts. The dollar index fell to the lowest since July 24 in Asia trade to 97.344 ahead of the release of preliminary benchmark revisions.
Oil prices gained on Tuesday after OPEC+ decided to increase production by less than what market participants had anticipated, while concerns over tighter supply due to potential new sanctions on Russia continued to lend support. Brent crude gained 0.33 per cent, to $66.24 a barrel, while US West Texas Intermediate crude climbed 0.39 per cent to $62.50 a barrel.
"We suggest closely tracking the performance of banking and IT majors for the next directional move in the index. Meanwhile, traders should continue to focus on other sectors that are holding firm and participating on a rotational basis," said Ajit Mishra SVP of Research at Religare Broking.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,170.35 crore on Monday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 3,014.30 crore on a net-net basis.
Nifty & Sensex outlook
We are of the view that the short-term market outlook would remain volatile; however, a fresh uptrend rally is possible only after crossing the 24,900/81,200 level, said Shrikant Chouhan, Head of Equity Research at Kotak Securities. "Above this, the market could move up to 25,000/81,500. Further upside may also continue, potentially lifting the index up to 25,100/81,800," he said.
Nifty is reflecting a loss of momentum and a likely consolidation going ahead, said Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities. "Looking at key levels, the 24,750–24,700 zone will act as immediate support. A decisive move below 24,700 could accelerate the decline towards 24,600. On the upside, the 24,900–24,950 zone will serve as immediate resistance," he said.
Nifty Bank outlook
Bank Nifty formed a high wave candle with a small real body and shadows in either direction highlighting intraday volatility. The index continues to hover around the 200-day EMA, which is acting as a pivotal zone. In the near term, it is expected to remain range-bound between 53,500 and 55,000, suggesting a consolidation phase before any directional breakout, said Bajaj Broking.
Nifty Bank formed a doji-like candle, indicating uncertainty. On the downside, the 200-DEMA is placed near 53,600 while the low of the bullish engulfing candle is near 53,560, said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C Mehta Investment Interrmediates. As long as the Bank Nifty sustains above this zone, a buy-on-dips strategy is more favourable, he said.
Indian benchmark indices are likely to open higher on Tuesday, tracking the gains in the global peers. Traders shall be keenly awaiting the US Federal Reserve's rate cut after muted jobs data. Besides this, tariff concerns and GST benefits will also be tracked by traders amid weekly expiry of Nifty contracts.
Nifty futures on the NSE International Exchange traded 56.30 points, or 0.23 per cent, up at 24,949, hinting at a positive start for the domestic market on Tuesday. Asian stocks were trading higher on Tuesday ahead of expected Federal Reserve rate cuts. Hang Seng gained more than a per cent, while Nikkei and KOSPI added half a per cent each.
Investors remain focused on the upcoming Fed interest rate decision amid ongoing concerns over global trade tensions and softer US GDP data, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "Looking ahead, the market is expected to maintain a positive trajectory, supported by GST rate cuts benefiting key sectors and the potential Fed rate cut," he said.
US stocks settled higher on Monday as investors bet the Federal Reserve will soon lower borrowing costs to shore up economic growth. The S&P 500 climbed 0.21 per cent to end at 6,495.15 points. The Nasdaq gained 0.45 per cent to 21,798.70 points, its highest close ever. The Dow Jones Industrial Average rose 0.25 per cent to 45,514.95 points.
The dollar sank to an almost seven-week low on Tuesday as investors braced for US data revisions that could show the jobs markets in worse shape than initially thought, shoring up the case for even deeper Federal Reserve interest rate cuts. The dollar index fell to the lowest since July 24 in Asia trade to 97.344 ahead of the release of preliminary benchmark revisions.
Oil prices gained on Tuesday after OPEC+ decided to increase production by less than what market participants had anticipated, while concerns over tighter supply due to potential new sanctions on Russia continued to lend support. Brent crude gained 0.33 per cent, to $66.24 a barrel, while US West Texas Intermediate crude climbed 0.39 per cent to $62.50 a barrel.
"We suggest closely tracking the performance of banking and IT majors for the next directional move in the index. Meanwhile, traders should continue to focus on other sectors that are holding firm and participating on a rotational basis," said Ajit Mishra SVP of Research at Religare Broking.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,170.35 crore on Monday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 3,014.30 crore on a net-net basis.
Nifty & Sensex outlook
We are of the view that the short-term market outlook would remain volatile; however, a fresh uptrend rally is possible only after crossing the 24,900/81,200 level, said Shrikant Chouhan, Head of Equity Research at Kotak Securities. "Above this, the market could move up to 25,000/81,500. Further upside may also continue, potentially lifting the index up to 25,100/81,800," he said.
Nifty is reflecting a loss of momentum and a likely consolidation going ahead, said Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities. "Looking at key levels, the 24,750–24,700 zone will act as immediate support. A decisive move below 24,700 could accelerate the decline towards 24,600. On the upside, the 24,900–24,950 zone will serve as immediate resistance," he said.
Nifty Bank outlook
Bank Nifty formed a high wave candle with a small real body and shadows in either direction highlighting intraday volatility. The index continues to hover around the 200-day EMA, which is acting as a pivotal zone. In the near term, it is expected to remain range-bound between 53,500 and 55,000, suggesting a consolidation phase before any directional breakout, said Bajaj Broking.
Nifty Bank formed a doji-like candle, indicating uncertainty. On the downside, the 200-DEMA is placed near 53,600 while the low of the bullish engulfing candle is near 53,560, said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C Mehta Investment Interrmediates. As long as the Bank Nifty sustains above this zone, a buy-on-dips strategy is more favourable, he said.