Stock Market Today: Sensex and Nifty Poised for a Flat Start: Gift Nifty Hints at a Cautious Opening as Traders Eye the Next Move
The Indian stock market seems to be in a “hold-your-breath” mood today! The benchmark indices, Sensex and Nifty 50, are expected to open flat on Wednesday, following a cheer from global markets. Think of it as the market stretching before its next sprint.
Gift Nifty isn’t giving away too many hints either, trading around 25,762, just a smidge-about 23 points-above the Nifty futures’ previous close. For traders, it’s like seeing the starting line but not knowing exactly when the race will take off.
Tuesday’s action was a warm-up: the Sensex climbed 173.81 points (0.21%) to 83,450.96, while the Nifty 50 nudged up 42.65 points (0.17%) to 25,725.40, marking its second straight day of gains.
So, what’s your play today? Watching the indices from the sidelines, eyeing the next breakout, or jumping in for some intraday action? Either way, the market has set the stage-time to stay alert!
Stock Market On Tuesday
- Sensex: Rose 173.81 points (0.21%) to 83,450.96, marking a second consecutive session of gains.
- Nifty 50: Increased 42.65 points (0.17%) to 25,725.40, showing cautious optimism amid global market cues.
Sensex rose 173.81 points to 83,450.96, while Nifty 50 gained 42.65 points to 25,725.40, extending a two-day winning streak amid global cues and cautious investor optimism.
What Will Shape The Stock Market Today?
Global Market Cues Impacting Indian Indices
Asian Markets
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Modest gains amid thin holiday trading; Japan’s Nikkei +0.86%, Topix +1.11%.
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China, Hong Kong, Singapore, South Korea, Taiwan, Vietnam markets closed for Lunar New Year.
Wall Street
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Slight gains led by technology and financial stocks:
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Dow Jones: +32.26 points (0.07%) → 49,533.19
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S&P 500: +7.05 points (0.10%) → 6,843.22
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Nasdaq: +31.71 points (0.14%) → 22,578.38
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Notable stock moves: Nvidia +1.18%, AMD -2.05%, Microsoft -1.11%, Apple +3.17%, Amazon +1.19%, Tesla -1.63%.
Gift Nifty
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Trading near 25,762, indicating a positive start for Indian indices.
Dollar Movement
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Dollar index stable at 97.11, euro at $1.1852, yen strengthened to 153.12 per dollar, sterling at $1.3563.
Commodity Prices
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Gold: Flat at $4,879.79/oz
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Silver: Flat at $73.52/oz
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Crude oil: Brent $67.36/bbl (-0.03%), WTI $62.24/bbl (-0.14%)
Key Data That Will Trigger The Stock Market Today
Iran–US Nuclear Talks
Diplomatic relations between the United States and Iran were restored after both countries established fundamental nuclear negotiation guidelines. The current situation requires postponing celebrations because a workable agreement remains distant. The markets maintain their focus on upcoming developments. The upcoming discussions will determine whether they reduce current tensions or whether this represents the first stage of a protracted negotiating process.
Japan Trade Data
Japan’s export engine achieved a 16.8% annual growth rate during January, which exceeded market predictions of 12% growth. The country experienced a 2.5% decline in imports, which went against market expectations of an increase. The result? A trade deficit of 1.15 trillion yen, which resulted in actual figures falling short of forecasts. The question is whether this demonstrates a rise in global demand or whether it displays only temporary seasonal activity.
Stock Market Outlook Today
Sensex Outlook
The Sensex shows an upward trend that continues during intraday market hours and has established a bullish pattern on its daily chart, indicating increasing market strength. The main support levels are at 83,000 and 82,700. The market faces immediate resistance at 83,700, while a breakout above 83,800 could lead to movement towards the 84,200 to 84,500 range. The current upward trend may slow down if the market drops below 82,700.
Nifty 50 Technical Analysis
The Nifty 50 index formed a positive daily candle, showing slight movement through its minor shadow sections following the previous upward move. The February 13 downside gap has been fully filled near 25,750. The market currently has immediate support at 25,600 and broader support at 25,400. The close above the 100-DMA indicates strength, while resistance near the 50-DMA may limit additional upward movement.
(With inputs From Reuters)
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Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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