Indian markets reopen after Diwali holiday, investors eye key stocks and technical resistance
The Indian equity market resumed trading on Wednesday following the Diwali break, with the Nifty 50 facing resistance around 25,150-25,200 and several companies reporting mixed Q2 results.
Indian equity markets reopened on Wednesday after the Diwali-Balipratipada holiday, as investors returned following modest gains in the previous session. The Nifty 50 closed Monday at 25,045, up 0.23 percent.
"The immediate resistance for the Nifty is placed in the 25,150–25,200 zone. A sustained move above this range could strengthen upward momentum and pave the way for further gains," said Ponmudi R, CEO of Enrich Money.
Analysts expect attention on a range of stocks, including Cochin Shipyard, Kalyan Jewellers, MRF, Coal India, BHEL, Bajaj Finance and Whirlpool, as companies release September-quarter earnings and corporate updates.
Kalyan Jewellers posted a 63.6 percent year-on-year rise in net profit to Rs 427 crore, with revenue up 31.4 percent. In contrast, tyre maker MRF saw net profit fall 12.9 percent to Rs 417 crore, despite a 17.4 percent revenue increase. State-run Cochin Shipyard reported a 49.8 percent profit decline to Rs 54 crore, while revenue grew 11.7 percent.
IIFL Finance announced a Rs 6,414.20 crore primary capital raise, led by Blackstone with a Rs 5,000 crore investment for an approximate 16 percent stake. Other corporate moves included a revised share buyback by Jyothy Labs, a warrant allotment by Bajaj Finance, and a contract win for Ashoka Buildcon worth Rs 865.90 crore.
Separately, SEBI approved an IPO for Mahanadi Coalfields, a subsidiary of Coal India, involving a 10 percent stake sale. Bank of Baroda raised its marginal cost of funds based lending rates across several tenures, effective 12 November 2026.
The market will also track upcoming Q2 results from companies such as Tata Power, Hindustan Copper and BHEL later in the week.