The Indian market closed lower on Thursday, dragged down by information technology stocks, as investors turned cautious ahead of Tata Consultancy Services’ earnings and amid lingering uncertainty over a potential U.S.-India trade deal.
The BSE Sensex dropped 345.80 points, or 0.41%, to close at 83,190.28, while the NSE Nifty slipped 120.85 points, or 0.47%, to settle at 25,355.25.
Here's how analysts read the market pulse:
Indian equities concluded the day in the red, weighed down by weakness in IT stocks ahead of TCS’s Q1 results, said Vinod Nair, Head of Research, Geojit Investments, adding that investor sentiment remains cautious ahead of the Q1 results in anticipation of a muted start to the season from the IT and finance sectors.
“However, the recent consolidation in the IT stocks largely factors in the muted outlook, limiting further worries. Meanwhile, mid- and small-caps had limited negative action, reflecting a wait-and-watch approach amid rising expectation of a better earnings outlook compared to large caps,” said Nair.
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US markets
The S&P 500 and the Nasdaq nudged lower on Thursday, as investors monitored developments around U.S. President Donald Trump's trade policies, while airline stocks jumped following Delta's upbeat forecast.
At 10:02 a.m. ET, the Dow Jones Industrial Average rose 39.82 points, or 0.09%, to 44,498.12, the S&P 500 lost 9.36 points, or 0.15%, to 6,253.90 and the Nasdaq Composite lost 89.97 points, or 0.44%, to 20,523.04.
Delta Air Lines jumped 12.9% after forecasting third-quarter and full-year profits above Wall Street estimates.
Peers United Airlines rose 9.7%, while American Airlines gained 9%, boosting the Dow Jones Transport Average by 2.3%.
Markets are bracing for a flurry of second-quarter earnings, set to kick off in full force next week.
European stocks
European shares closed higher on Thursday, with mining and healthcare stocks the biggest boosts as investors watched for signs of progress on a potential trade deal between the United States and the European Union.
The pan-European STOXX 600 index closed 0.5% higher, hitting its highest since June 11.
In the UK, the blue-chip FTSE 100 jumped 1.2% to an all-time high, while Germany's DAX came off its record high to end 0.4% lower. European Commission President Ursula von der Leyen said the EU is working "non-stop" to reach a low-tariff trade agreement with the U.S.
Tech View
The Nifty slipped lower following a breakdown from the congestion zone on the daily chart, reinforcing the prevailing bearish sentiment, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the index has moved below the 21-hour exponential moving average.
"The RSI (14) on the daily chart has also turned negative, indicating weakening momentum. In the short term, the trend is likely to remain weak, which could lead to further downside. On the lower end, support is placed at 25,250–25,200, while on the higher end, resistance levels are seen at 25,400 and 25,500," said De.
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Most active stocks in terms of turnover
HDFC Bank (Rs 1,710 crore), Reliance Industries Ltd (Rs 1,523 crore), Kotak Mahindra Bank (Rs 1,264 crore), BSE (Rs 1,262 crore), Bharti Airtel (Rs 1,129 crore), Power Finance Corp (Rs 1,121 crore) and ICICI Bank (Rs 1,112 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
JP Power (Traded shares: 34.46 crore), Vodafone Idea (Traded shares: 29.44 crore), Sagility India (Traded shares: 9.98 crore), YES Bank (Traded shares: 4.37 crore), Sammaan Capital (Traded shares: 3.32 crore), Suzlon Energy (Traded shares: 3.10 crore) and Alok Industries (Traded shares: 2.68 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Kirloskar Oil Engines, ACME Solar Holdings, Lemon Tree Hotels, Campus Activewear, Capri Global, Glenmark Pharmaceuticals and Sagility India were among the stocks that witnessed strong buying interest from market participants.
Also read | Ola, Paytm, Swiggy tumble up to 50% in 2025: Are your loss-making tech bets still worth it?
52 Week high
Over 146 stocks hit their 52 week highs today while 49 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included UltraTech Cement.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Bharat Dynamics, Metropolis Healthcare, Solar Industries, Pfizer, DCM Shriram, PI Industries and Zen Technologies.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,161 stocks that traded on the BSE on Thursday, 2,064 stocks witnessed declines, 1,959 saw advances, while 138 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The BSE Sensex dropped 345.80 points, or 0.41%, to close at 83,190.28, while the NSE Nifty slipped 120.85 points, or 0.47%, to settle at 25,355.25.
Here's how analysts read the market pulse:
Indian equities concluded the day in the red, weighed down by weakness in IT stocks ahead of TCS’s Q1 results, said Vinod Nair, Head of Research, Geojit Investments, adding that investor sentiment remains cautious ahead of the Q1 results in anticipation of a muted start to the season from the IT and finance sectors.
“However, the recent consolidation in the IT stocks largely factors in the muted outlook, limiting further worries. Meanwhile, mid- and small-caps had limited negative action, reflecting a wait-and-watch approach amid rising expectation of a better earnings outlook compared to large caps,” said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
US markets
The S&P 500 and the Nasdaq nudged lower on Thursday, as investors monitored developments around U.S. President Donald Trump's trade policies, while airline stocks jumped following Delta's upbeat forecast.
At 10:02 a.m. ET, the Dow Jones Industrial Average rose 39.82 points, or 0.09%, to 44,498.12, the S&P 500 lost 9.36 points, or 0.15%, to 6,253.90 and the Nasdaq Composite lost 89.97 points, or 0.44%, to 20,523.04.
Delta Air Lines jumped 12.9% after forecasting third-quarter and full-year profits above Wall Street estimates.
Peers United Airlines rose 9.7%, while American Airlines gained 9%, boosting the Dow Jones Transport Average by 2.3%.
Markets are bracing for a flurry of second-quarter earnings, set to kick off in full force next week.
European stocks
European shares closed higher on Thursday, with mining and healthcare stocks the biggest boosts as investors watched for signs of progress on a potential trade deal between the United States and the European Union.
The pan-European STOXX 600 index closed 0.5% higher, hitting its highest since June 11.
In the UK, the blue-chip FTSE 100 jumped 1.2% to an all-time high, while Germany's DAX came off its record high to end 0.4% lower. European Commission President Ursula von der Leyen said the EU is working "non-stop" to reach a low-tariff trade agreement with the U.S.
Tech View
The Nifty slipped lower following a breakdown from the congestion zone on the daily chart, reinforcing the prevailing bearish sentiment, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the index has moved below the 21-hour exponential moving average.
"The RSI (14) on the daily chart has also turned negative, indicating weakening momentum. In the short term, the trend is likely to remain weak, which could lead to further downside. On the lower end, support is placed at 25,250–25,200, while on the higher end, resistance levels are seen at 25,400 and 25,500," said De.
Also read | Warren Buffett’s biggest investment isn’t Apple, BofA or Coca-Cola — it’s a stock hidden in plain sight
Most active stocks in terms of turnover
HDFC Bank (Rs 1,710 crore), Reliance Industries Ltd (Rs 1,523 crore), Kotak Mahindra Bank (Rs 1,264 crore), BSE (Rs 1,262 crore), Bharti Airtel (Rs 1,129 crore), Power Finance Corp (Rs 1,121 crore) and ICICI Bank (Rs 1,112 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
JP Power (Traded shares: 34.46 crore), Vodafone Idea (Traded shares: 29.44 crore), Sagility India (Traded shares: 9.98 crore), YES Bank (Traded shares: 4.37 crore), Sammaan Capital (Traded shares: 3.32 crore), Suzlon Energy (Traded shares: 3.10 crore) and Alok Industries (Traded shares: 2.68 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Kirloskar Oil Engines, ACME Solar Holdings, Lemon Tree Hotels, Campus Activewear, Capri Global, Glenmark Pharmaceuticals and Sagility India were among the stocks that witnessed strong buying interest from market participants.
Also read | Ola, Paytm, Swiggy tumble up to 50% in 2025: Are your loss-making tech bets still worth it?
52 Week high
Over 146 stocks hit their 52 week highs today while 49 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included UltraTech Cement.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Bharat Dynamics, Metropolis Healthcare, Solar Industries, Pfizer, DCM Shriram, PI Industries and Zen Technologies.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,161 stocks that traded on the BSE on Thursday, 2,064 stocks witnessed declines, 1,959 saw advances, while 138 stocks remained unchanged.
Also read | Eternal shares up 30% since March. Investors are feasting, but can Zomato’s parent justify the appetite?
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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