Indian markets recovered late on Wednesday despite concerns over crude prices and geopolitical tensions, with technical indicators highlighting bullish signals in key financial stocks like Indian Bank, PB Fintech, and Shriram Finance amid cautious global sentiment.
Indian shares recovered late on Wednesday even as traders wrestled with higher crude prices and a cautious global backdrop, with the Nifty 50 ending the session at 24,435.95 after briefly slipping below 24,350. The Sensex also finished lower, while banking and metal stocks helped steady the market in the final hour, according to the market report.
The broader mood remained subdued as investors waited for inflation readings in India and the United States that could shape interest-rate expectations. Brent crude, which has been hovering around $89-$90 a barrel, and renewed tensions in the Middle East added to the unease, while IT and FMCG shares saw some profit-taking, the report said.
Against that uneven backdrop, technical charts have drawn attention to Indian Bank, PB Fintech and Shriram Finance. Indian Bank is said to be trading above key medium- and long-term moving averages after clearing a falling trendline on stronger volumes, a pattern traders often read as evidence of buying interest. PB Fintech has also reclaimed important technical levels after a tight trading range, with rising volumes pointing to accumulation. Shriram Finance, meanwhile, has broken out of a multi-month range and remains in a longer-term uptrend.
Shriram Finance has additional support from its latest results. ICICIdirect Research said the company reported a 41% year-on-year rise in profit after tax to ₹3,014 crore in the quarter, with assets under management crossing ₹3 lakh crore. The brokerage also pointed to 15.6% growth in net interest income and a gross non-performing asset ratio of 4.58%, while Business Standard reported that the lender’s growth in vehicle finance and rural demand continued to underpin expectations for FY27. That stronger fundamental backdrop may help explain why the stock remains a favourite among momentum traders even as the wider market stays cautious.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
