The Indian stock market closed on a high note on Thursday, October 16, 2025, with the Sensex increasing by 862 points to close around 83,467 and the Nifty 50 rising nearly 262 points to finish at approximately 25,585. This surge, marking the Sensex's highest level since early July 2025, was fueled by optimism from declining crude oil prices, favorable global signals, and expectations of a forthcoming RBI rate cut after inflation dipped to an eight-year low.
Nifty 50 Trade Setup
According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 surpassed the resistance level of 25,500, indicating a potential for a robust rally in the near term. The short-term outlook appears favorable, with the potential to reach 25,750-25,800, while support is set at 25,500 on the downside. Rajesh Bhosale, equity technical analyst at Angel One, believes Nifty is poised to retest 25,700, followed by 26,000, and eventually the all-time high near 26,300, with 25,450 acting as support. Shrikant Chouhan, head of equity research at Kotak Securities, noted that the short-term market texture is bullish but range-bound activity is possible due to temporary overbought conditions.
India-US Trade Talks
India and the United States are actively engaged in discussions to expedite a mutually beneficial trade agreement, aiming to more than double bilateral trade to $500 billion by 2030. A delegation of senior Indian officials is currently in the United States to advance these negotiations. Commerce Secretary Rajesh Agrawal said that India is keen to increase its energy imports from the U.S. and is looking for a "win-win solution" that addresses tariff issues. While the U.S. government shutdown has paused formal negotiations, discussions continue to resolve trade tensions.
Gold Prices
As of October 16, 2025, at 07:01 PM ET, the spot price for 1 ounce of gold was $4,360.20 USD. APMEX reported the gold price per ounce at $4,366.90 USD and per gram at $140.40 USD. BullionVault reported the spot price for 1 gram of gold in the US is $140.03.
Reliance Q2 Results
Reliance Industries Ltd (RIL) is expected to announce its Q2 earnings on Friday, October 17. The company is projected to post a healthy 11% year-on-year rise in consolidated net profit, supported by strength in oil-to-chemicals (O2C) and telecom businesses. Revenue is expected to grow 7% YoY. Analysts expect RIL's consolidated EBITDA to grow 10–13% YoY, driven by stronger refining margins and higher digital revenue. Investors will be focusing on management commentary regarding the new energy business, retail store additions, and potential pricing actions in the telecom sector.
Stocks to Buy
Market experts have recommended the following stocks for intraday trading:
- Intellect Design Arena Ltd
- Oil India Ltd
- Asian Paints Ltd
- Lupin Ltd
- Aditya Birla Capital Ltd
- Paradeep Phosphates Ltd
- One 97 Communications Ltd (Paytm)
- CG Power and Industrial Solutions Ltd
Additionally, Realty Income, Enbridge, and Verizon Communications are considered strong dividend stocks with yields exceeding 5%. Nuvama Professional Clients Group recommends Bikaji, Voltas, and Torrent Power as top stock recommendations.
