More Stories

Informist, Tuesday, Apr. 15, 2025

By Gopika Balasubramanium

MUMBAI – Benchmark indices are likely to extend gains Wednesday as investor sentiment has improved because there have been no negative shocks related to tariffs since Saturday, analysts said. Some analysts said investors could cash their profits at higher levels following the sharp gains in recent sessions. Some also said that trade talks between the US and many other trading partners would likely calm the markets across the globe.

In India, analysts expect investors to shift their attention to March quarter earnings and any forward-looking comments by the management. Investors will pay special attention to strategies that these companies have for the coming year amid fears of an economic slowdown. 

"My view for the market is positive and there is room for further rise as global shocks have appeased," said Brijesh Ail, head of technical and derivatives research at IDBI Capital Markets & Securities. "We should be seeing the Nifty (50) touching 24000 points next week," he said. Ail expects realty and metal stocks to outperform this week. Realty stocks such as DLF, Prestige Estates, and Oberoi Realty will rise further and metal stocks are likely to bounce-back as they are oversold, Ail said.

He expects the Nifty 50 to find support at 22800 points and face resistance at 23500 points. On Tuesday, the Nifty 50 closed at 23328.55 points, up 500.00 points or 2.2%, and the BSE Sensex closed at 76734.89 points, up nearly 1,600 points or 2.1%. India VIX, the Dalal Street's near-term fear gauge, fell nearly 20% to 16.1250, indicating the ease in nervousness in the market.

"We are of the view that the current market texture is bullish. However, due to temporary overbought conditions, we could see some profit booking at higher levels," Shrikant Chouhan, head of equity research at Kotak Securities, said. He expects Nifty 50 to find support at 23200-23135 points and face resistance at 23400–23500 points.

Morgan Stanley has cut its Sensex target for December by 12% to 82000 points and sees a 50% possibility of this coming true in a base case scenario. This implies a 7% rise from current levels. In a bearish scenario, the broking firm expects the Sensex to fall to 63000 points by the end of the year. Crude oil prices surging above $100 per barrel, higher inflation and the Reserve Bank of India likely raising repo rates could push the 30-stock index to such low levels. The Sensex can achieve the bull case target if the trade war subsides, crude oil stays below $70 per barrel, and lower inflation pushes the RBI to announce more interest rate cuts. Morgan Stanley also said that there is a 30% probability of the Sensex reaching 91000 points in a bull market.

Investors are waiting for the March quarter earnings of Wipro and comments of the management about its US clients and likely delay in orders. The information technology company's consolidated net profit is expected to fall 0.5% sequentially to INR 33.38 billion, while revenue is seen rising 1.4% to INR 226.38 billion, according to the average of estimates from 19 broking firms. The company will announce its earnings on Wednesday.

A softer-than-expected inflation rate for March is likely to provide further relief to market participants. India's CPI rate fell to an over five-year low in March to 3.34%, lower than the 3.6% polled by Informist and also lower than the 3.61% in February. This is the second consecutive month that inflation has stayed below the RBI's target of 4%.  End

US$1 = INR 85.77

Edited by Ashish Shirke

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.