Ahead of Market: 10 things that will decide stock market action on Wednesday

The Indian stock market extended sharp gains on Tuesday, with Sensex and Nifty rising up to nearly 1% each as cooling oil prices, strong Q2 updates and other factors boosted investor confidence for the second consecutive session following an incessant selloff.

Sensex rose over 685 points to close at 73,068, while Nifty 50 gained over 220 points to end the session at 22,776. The gains added nearly Rs 5 lakh crore to the total market capitalisation of all companies listed on BSE, pushing it near Rs 474 lakh crore.

Also read | Why did market rise on Tuesday?


Here's how analysts read the market pulse

"Crude oil prices slipped below the $100 mark after a large G7 stockpile release and alternative supply measures helped offset disruptions to vessel movements through the Strait of Hormuz. Coupled with strong Q2 business updates from financials and retail along with supportive global cues, the decline in oil prices improved investors' sentiment and supported a rebound from the oversold levels. Domestically, attention now shifts to the Q2 earnings season for silver lining amidst weak sequential expectations due to elevated input costs. Large-cap stocks remain relatively better placed, supported by attractive valuations and a stronger ability to absorb cost pressures. Investors also remain cautious ahead of the RBI policy decision, with the focus firmly on the central bank's inflation outlook and guidance on further policy tightening,” said Vinod Nair, Head of Research, Geojit Investments.

US stocks

The benchmark S&P 500 and the Nasdaq hit record highs on Tuesday as Treasury yields eased from multi-year highs and oil prices fell, while investors looked ahead to the upcoming quarterly earnings season.

Most of the 'Magnificent Seven' stocks edged higher in early trading, with Meta, Tesla and Amazon.com all up. Apple and Alphabet were outliers, down about 0.2% each.

European markets

In European trading, Britain's FTSE 100 gained 0.4%, while France's CAC 40 and Germany's DAX each gained 0.6%. The pan-European STOXX 600 firmed 0.5%.


The euro rose 0.3% to 1.1253, stabilising after hitting a 17-month low in the previous session due to concerns about the euro zone's fiscal outlook. Political uncertainty also deepened after Spain called a snap election on Monday.


France's 10-year bond yield fell about 18 basis points to 4.76% after surging to its highest since the 2000s last week. Far-right leader Marine Le Pen, the frontrunner in next spring's presidential election, increased her plans to slash spending if elected in 2027.

Also read | Explained: How RBI rate hike may impact Sensex, Nifty after 8-week losing streak

Most active stocks in terms of turnover

BSE (Rs 2,251 crore), RIL (Rs 2,181 crore), Trent (Rs 1,919 crore), HDFC Bank (Rs 1,885 crore), Kotak Mahindra Bank (Rs 1,726 crore), ICICI Bank (Rs 1,632 crore) and Honasa Consumer (Rs 1,169 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.

Most active stocks in volume terms

Vodafone Idea (Traded shares: 33.73 crore), Ola Electric (Traded shares: 5.71 crore), Yes Bank (Traded shares: 4.89 crore), Reliance Power (Traded shares: 4.87 crore), Suzlon Energy (Traded shares: 4.25 crore), Groww (Traded shares: 4.14 crore) and Kotak Mahindra Bank (Traded shares: 4 crore) were among the most actively traded stocks in volume terms on NSE.

Stocks showing buying interest

Trent, Urban Company, Aether Industries, PG Electroplast, Honasa Consumer, HEG and Motilal Oswal were among the stocks that witnessed strong buying interest from market participants.

52-week high

Among the ones which hit their 52-week highs on NSE included Aether Industries, BHEL, Kalpataru Power, HFCL, Cupid, Sterlite Tech and Aditya Infotech.

Stocks seeing selling pressure

Stocks which witnessed significant selling pressure were Coal India, Phoenix Mills, Signatureglobal India, Bandhan Bank, Global Health, Rainbow Childrens and Federal Bank.

52-week low

Among the ones which hit their 52-week lows on NSE included Max Healthcare, GIC, HUDCO,

Bharti Hexacom, DMart, IOC and Max Financial.

Sentiment meter favours bulls

Out of the 3,695 stocks that traded on the NSE on October 6, Tuesday, 2,455 stocks witnessed advances, 1,125 stocks saw declines while 115 stocks remained unchanged.

Also read |CAS sent Nifty soaring 300 points in a minute to breach 23,000 on expiry day

Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.