Daijiworld Media Network- Mumbai

Mumbai, Sep 17: The Indian stock market ended on a positive note on Tuesday, with benchmark indices rebounding strongly ahead of the US Federal Reserve meeting and expectations of an India–US trade deal.

The Nifty-50 gained 0.68% to close at 25,239.10, while the Bank Nifty advanced 0.47% to 55,147.60. Sectoral indices saw healthy buying interest with Realty, IT, Auto, Metals, Oil & Gas, and Consumer Durables leading the gains. FMCG stocks, however, lagged. In the broader market, mid- and small-cap indices also rose by 0.54% to 0.95%.

Trade Setup for Wednesday

Analysts believe the Nifty will remain bullish as long as it trades above 25,100. “If this level holds, the index can move towards 25,400 and even 25,500. However, a fall below 25,100 may change the sentiment,” said Shrikant Chouhan, Head of Equity Research, Kotak Securities.

For the banking index, immediate support has been pegged at 54,700, according to Bajaj Broking.

Global Cues in Focus

Market direction will also depend on global triggers. Siddhartha Khemka, Head of Research (Wealth Management) at Motilal Oswal Financial Services, said: “We expect the market to continue its gradual upmove, while tracking key trade-related developments and the US Fed rate cut decision, which will play a pivotal role in shaping near-term sentiment.”

Stocks to Watch – Buy/Sell Recommendations

For intraday trading on Wednesday, experts have recommended the following eight stocks:

• India Nippon Electricals Ltd

• Pondy Oxides & Chemicals Ltd

• Rallis India Ltd

• Hindustan Zinc Ltd

• Indian Railway Catering and Tourism Corporation Ltd (IRCTC)

• Hindustan Oil Exploration Company Ltd

• Tilaknagar Industries Ltd

• Aeroflex Industries Ltd