Indian Markets Open Subdued: SEBI RA Highlights Resistance Near 25,050

A choppy start to Wednesday’s trade as FMCG dragged, but broader markets showed resilience. Technical analysts point to a range-bound setup.
The Bombay Stock Exchange building is in Mumbai, India, on April 8, 2025. (Photo by Indranil Aditya/NurPhoto via Getty Images)
The Bombay Stock Exchange building is in Mumbai, India, on April 8, 2025. (Photo by Indranil Aditya/NurPhoto via Getty Images)
Profile Image
Preeti Ayyathurai·Stocktwits
Updated Jul 02, 2025 | 8:31 PM GMT-04
Share this article

Indian equity benchmarks opened cautiously on Wednesday, with the Nifty50 below the 25,000 mark in early trade.

At 9:40 a.m. IST, the Nifty 50 had fallen 31 points to 24,794, while the Sensex was down 147 points to 81,404. 

Broader markets continue to show resilience with Nifty Midcap and Smallcap indices registering minor gains in early trade. 

Meanwhile, the retail sentiment on Stocktwits moved from ‘neutral’ to ‘bullish.’. 

Screenshot 2025-05-28 100718.jpg
Nifty sentiment and message volume on May 28 as of 10:00 am IST. | source: Stocktwits

Sectoral trends remained mixed. The FMCG pack faced the sharpest selling pressure, weighed down by heavyweights like ITC, which tumbled over 3% after British American Tobacco offloaded a 2.57% stake worth ₹13,863 crore via a block deal. 

Select pockets of strength emerged in real estate, PSU banks, and IT counters.

Jio Financial is the top Nifty gainer, rising over 1% after the market regulator approved its asset management venture with BlackRock to launch mutual fund operations in India.

LIC rose over 5%, driven by strong March-quarter earnings and a bullish note from Macquarie, which set a target price of ₹1,215, implying nearly 40% upside. 

Jupiter Wagons gained over 3% after its EV arm inked a supply deal with logistics firm Pickup for 300 light electric commercial vehicles.

Bharat Dynamics fell nearly 4% despite a 100% revenue jump in the March quarter, as margin pressure and a dip in net profits weighed on investor sentiment. 

NMDC also lost over 3% following a lackluster Q4 earnings report.

Looking ahead, investors will monitor Cummins, Bata India, IRCTC, Natco Pharma, SAIL, among others, as they report quarterly numbers later in the day. 

From a technical standpoint, SEBI-registered analysts on Stocktwits shared the trade setup. 

Prabhat Mittal pegged immediate support for the Nifty at 24,700 and resistance at 25,050, while he placed Bank Nifty support at 55,000 and resistance at 55,800.

For intraday trading, A&Y Market Research sees Nifty resistance levels at 25,187 - 25,238, while immediate support lies between 24,746 - 24,811. 

In the case of Bank Nifty, resistance is pegged at 55,443 - 55,557, with support between 54,334 - 54,470.

Asian markets traded broadly higher, tracking overnight gains on Wall Street. 

Subscribe to The Daily Rip India
All Newsletters
The most relevant Indian markets intel delivered to you everyday.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Read about our editorial guidelines and ethics policy

Advertisement. Remove ads.