- The Overnight Cue: The US Federal Reserve
- A Heavyweight Earnings Day
- Stocks Sitting at Key Chart Levels
- Calendar Notes
- The Bottom Line
Market preview · Data as of Wednesday's close
Indian markets closed sharply higher on Wednesday. The Sensex rose 889 points (1.16%) to 77,654.60, and the Nifty 50 added 265 points (1.1%) to 24,250.20, helped by stronger-than-expected industrial output data and a better global mood. IT, metal and FMCG stocks led the gains, while realty and auto lagged. Broader markets joined in, with the midcap index up 0.82% and smallcaps up 1.48%.
Here's what's on the calendar for Thursday, and why each item matters. This is a look at scheduled events and levels that already exist on the charts, not a prediction of which way anything will move.
The Overnight Cue: The US Federal Reserve
The Fed announces its interest rate decision late tonight, after Indian markets have closed, so the reaction lands on Thursday morning.
Most analysts expect the Fed to hold rates steady, and because that outcome is widely anticipated, it is largely priced in already. That means the decision itself may matter less than what the Fed Chair says afterwards about the path for rates ahead. Global cues on Thursday morning, including how US markets react overnight, will set the early tone here.
A Heavyweight Earnings Day
Thursday is the biggest results day of the week. Reporting: Bajaj Finance, Tata Steel, Mahindra & Mahindra, Sun Pharma, Maruti Suzuki and Swiggy.
Results days usually bring sharper-than-usual swings in the stocks involved, in either direction. A reminder on reading them: the profit headline alone can mislead. A big jump can come from one-off items, and a dip can simply reflect a favourable comparison base from last year. It's more useful to check whether sales growth came from selling more or just raising prices, and whether margins held up.
Stocks Sitting at Key Chart Levels
A few stocks ended Wednesday near price levels that traders watch closely. Two terms worth knowing: a resistance level is simply a price where a stock has repeatedly struggled to climb past in the past, and support is where it has repeatedly found buyers. Neither guarantees anything; they are just areas where the stock has reacted before.
Also worth noting alongside these: volume, or the number of shares traded. A move on unusually heavy volume shows more participants were involved than usual.
Swiggy is the one to watch most closely, because it combines a level with a scheduled event. The stock closed at ₹287.35, up 7.03%, on volume of about 73 million shares, a clear spike. It now sits just below the ₹298–₹304 band, an area it fell through earlier this year, which means the old floor has become a ceiling it hasn't reclaimed since. And Swiggy reports its results on Thursday. A stock approaching a level it hasn't crossed in months, on the same day it reports earnings, is worth watching either way.
Jio Financial Services closed at ₹249.48, up 5.23%, with a day's high of ₹253.90 and volume of nearly 49 million shares, well above its usual turnover. It was among the top Nifty gainers on Wednesday. The stock has spent months moving between roughly ₹222.84 on the downside and ₹256.35 on the upside, and Wednesday's move pushed it back towards the top of that range.
Firstsource Solutions closed at ₹293.60, up 11.60%, on volume of about 49 million shares. The move carried it above ₹282.50, a level the stock had broken down through earlier in 2026. Some context to keep the move in proportion: the stock's 52-week high is ₹381.40, so despite Wednesday's jump, it remains well below where it traded a year ago.
Lloyds Metals & Energy closed at ₹2,051.30, up 3.65%, touching a day's high of ₹2,066 and finishing at the upper end of its recent trading range. It moved on a day when the Nifty Metal index was among the market's better performers.
Calendar Notes
- BSE monthly expiry: The Sensex derivatives contracts expire on Thursday. Expiry days can bring extra volatility in index-linked trading.
- F&O ban list: Worth a quick check on the NSE website before the open, as it is updated daily.
The Bottom Line
Two things drive Thursday: the Fed's decision landing overnight, and a dense earnings day featuring several of India's largest companies. Beyond that, a handful of stocks, Swiggy in particular, closed near levels that have mattered on their charts before, with heavy volume behind the moves.
The market has climbed back above 24,250 on the Nifty, near the upper end of the range it has traded in over recent weeks. Whether that holds will likely depend more on what the Fed says overnight and what the earnings show than on anything else.