Indian stocks closed higher on Wednesday, with the Nifty index posting its sixth consecutive gain after US President Donald Trump said his administration was advancing trade barrier negotiations with India. Optimism about potential Goods and Services Tax cuts and expectations of a Federal Reserve rate cut also boosted investor sentiment. The S&P BSE Sensex rose 323.83 points, or 0.40%, to 81,425.15, while the NSE Nifty 50 rose 104.50 points, or 0.42%, to 24,973.10.
Looking ahead, weaker-than-expected US Producer Price Index data boosted expectations of a Fed rate cut, sending gold prices slightly higher. Investors are now awaiting the US Consumer Price Index report, with the Fed set to decide on interest rates next Wednesday. Investors will closely monitor producer and consumer inflation data for clues on the impact of tariffs on price pressures, which could have implications for the future.
If external factors don't interfere, I expect the NIFTY index to break through resistance between 25,000 and 25,200 in the short term. Market sentiment is currently positive. I previously shared five stocks with you, all of which are currently profitable. You can sell any profitable stocks at any time, and continue to monitor your holdings.
Stock Tips short term:
1: (SHAILY), a cyclical growth stock. Hold stocks at a buy price around 2,200.
2: (DRREDDY). A break above 1,300 could yield a 3% gain, with a potential profit target of 1,350.
2: (CGPOWER). A break above 770 could yield a 3% gain, with a potential profit target of 800.