Stock market today: India’s stock indices experienced a decline on Wednesday, primarily pulled down by information technology shares as investors evaluated the effects of US visa restrictions, while ongoing foreign capital outflows and persistent valuation worries maintained a subdued mood.
The Nifty 50 dropped 0.31% to 25,091 . 85, and the Sensex decreased by 0.31% to 81,820.67 by 12:31 IST. A proposal released by the US on Tuesday aims to alter the H-1B visa selection criteria to prioritize higher-skilled and better-compensated workers. Last year, Indians constituted 71% of the approved H-1B recipients.
Foreign portfolio investors (FPIs) were at the forefront of Tuesday’s selloff, liquidating shares worth 35.51 billion rupees ($399.9 million), according to provisional figures. This marked their largest single-day divestment in India for September. Experts note that the market is under strain and sentiments are cautious as recent policy discussions, particularly the U.S. visa reforms, are keeping investors on edge.
Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities
Nifty 50
Nifty 50 has managed to hold 25,100 on a closing basis, however, it now has a strong hurdle at 25,400 levels, so the short-term range for the Index is 25,000 to 25,400 levels and a break on either side will lead to 400 points move. The next week is the monthly expiry, hence some rise in volatility can’t be ruled out. Also, this monthly expiry is before the result season, hence some increase in VIX is expected.
Since past 3 trading sessions the India VIX has been rising which indicates further uptrend. The Nifty Bank is critical as if those inches higher than there is a high chance of Nifty surpassing 25,400 levels. Above 25,400 the next target will be 25,800 to 26,000 levels whereas the reversal level on the lower side is 24,800.
Stocks To Buy in the near-term – Jay Thakkar
Jay Thakkar of ICICI Securities recommends JSW Steel Futures, Jindal Steel Futures, and Alkem Laboratories Futures.
Buy JSW Steel Futures in the range of ₹1,130-1,150; stop loss of ₹1,100; targets of ₹1,250/1,300
JSW Steel Futures has taken off its multiple swing resistances as well as it has witnessed long build up which is a positive sign in the near term Based on the options data, the bulls have an upper hand as there has been significant call unwinding along with put additions. The stock is trading well above its 20-day VWAP as well as its max pain levels.
Buy Jindal Steel Futures in the range of ₹1,060-1,080; stop loss of ₹1,020; targets of ₹1,140-1,170
The metals stocks are well in the upward momentum especially the ferrous names. There has been an upward breakout along with long build up in the futures segment, hence the short term outlook is bullish. The stock is trading well above its 20-day VWAP as well as its max pain level. The 1060 strike has the highest call base and above those levels there will be further upward momentum
Buy Alkem Laboratories Futures in the range of ₹5,560-5,580; stop loss of ₹5,450; targets ₹5,750/5,850
Alkem Laboratories has been forming higher tops and higher bottoms with increase in OI in futures segment which clearly indicates long build up. The stock is also trading well above its 20-day VWAP as well as its max pain level. There has been strong put side additions as per the options data, so there is good support at the lower levels.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 23/09/2025 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
