The Indian stock market ended lower on Thursday, halting a seven-session rally, as financials led the retreat on profit booking, while geopolitical tensions escalated following India's strong diplomatic response against Pakistan in response to a deadly terror attack in Jammu and Kashmir that left 26 dead.
The benchmark BSE Sensex lost 315.06 points or 0.39% to close at 79,801.43, while the broader Nifty 50 index closed at 24,246.70, lower by 82.25 points or 0.34%.
Here's how analysts read the market pulse:
The domestic market witnessed mild profit booking after the recent rally, said Vinod Nair, Head of Research at Geojit Investments, adding that the global markets too experienced selling pressure as the market participants scaled back the possibility of a quick resolution of tariff disputes between the U.S. and China.
“FMCG majors’ Q4 results were weak, impacted by subdued volumes and margin pressure, which led the sector to underperform. However, benign input prices and improvement in urban & rural demand are expected to revive the sector, which is available at reasonable valuations," said Nair.
"Markets remained subdued, trading within a narrow range on the monthly expiry day of the April derivatives contracts, and ended slightly lower… This phase of consolidation in the index is in line with expectations and may continue in the coming sessions. Therefore, we recommend maintaining a focus on stock selection and using market dips as buying opportunities,” said Ajit Mishra, SVP, Research at Religare Broking.
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US markets
Wall Street's main indexes were mixed on Thursday, with the S&P 500 and the Nasdaq rising, as investors assessed a slew of mixed corporate results and monitored developments in U.S.-China trade war.
The White House on Wednesday indicated that it was open to reducing sweeping tariffs on China, and President Donald Trump stepped back from his attacks on Federal Reserve Chairman Jerome Powell, sending stock indexes higher.
But the optimism faded when Treasury Secretary Scott Bessent said a move to reduce levies would not come unilaterally, while China said in response that the U.S. should lift all unilateral tariff measures against China if it "truly" wanted to solve the trade issue.
A deluge of changing headlines and the lack of clarity in the market are making it difficult for investors to assess the impact of Trump's changing stance on trade policy, creating a volatile environment.
European markets
European shares ended higher on Thursday, boosted by automakers and materials stocks, as investors digested a mixed set of corporate earnings and evaluated the ever-shifting U.S. trade rhetoric.
The pan-European STOXX 600 index erased earlier losses to close 0.4% higher, building on this week's rally.
An index of automobiles and parts led the gains with a 1.9% jump, with French carmaker Renault advancing 4.4% after reporting a small rise in first-quarter revenue.
The basic resources index added 1%, making its fourth straight session of gains on the back of elevated copper prices despite U.S. tariff-related uncertainties.
Tech View
The Nifty remained flat throughout the day, ending on a flattish note, said Rupak De, Senior Technical Analyst at LKP Securities adding that while the short-term sentiment remains strong, signs of fatigue are becoming increasingly evident.
“A small correction may happen if the index sustains below 22,300. On the downside, the Nifty could decline towards 21,900, while resistance is seen at 24,300 and 24,500," said De.
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Most active stocks in terms of turnover
HDFC Bank (Rs 2,485 crore), ICICI Bank (Rs 2,207 crore), IndusInd Bank (Rs 1,860 crore), Waaree Energies (Rs 1,804 crore), BSE (Rs 1,802 crore), Bajaj Finance (Rs 1,734 crore) and HUL (Rs 1,666 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
Vodafone Idea (Traded shares: 43.62 crore), Reliance Power (Traded shares: 10.89 crore), Suzlon Energy (Traded shares: 6.51 crore), IDFC First Bank (Traded shares: 6.51 crore), MMTC (Traded shares: 5.07 crore) and Bajaj Housing Finance (Traded shares: 4.72 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Newgen Software Technologies, MMTC, Whirlpool India, Sonata Software, Natco Pharma, Triveni Engineering and Thermax were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 75 stocks hit their 52 week highs today while 25 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Bajaj Finance, Bajaj Finserv and UltraTech Cement.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Syngene International, Waaree Energies, Vijaya Diagnostic, Can Fin Homes, Nava Bharat Vent., KFIN Technologies and Trans & Rectifiers.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,086 stocks that traded on the BSE on Thursday, 2,063 stocks witnessed declines, 1,887 saw advances, while 136 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 benchmark BSE Sensex lost 315.06 points or 0.39% to close at 79,801.43, while the broader Nifty 50 index closed at 24,246.70, lower by 82.25 points or 0.34%.
Here's how analysts read the market pulse:
The domestic market witnessed mild profit booking after the recent rally, said Vinod Nair, Head of Research at Geojit Investments, adding that the global markets too experienced selling pressure as the market participants scaled back the possibility of a quick resolution of tariff disputes between the U.S. and China.
“FMCG majors’ Q4 results were weak, impacted by subdued volumes and margin pressure, which led the sector to underperform. However, benign input prices and improvement in urban & rural demand are expected to revive the sector, which is available at reasonable valuations," said Nair.
"Markets remained subdued, trading within a narrow range on the monthly expiry day of the April derivatives contracts, and ended slightly lower… This phase of consolidation in the index is in line with expectations and may continue in the coming sessions. Therefore, we recommend maintaining a focus on stock selection and using market dips as buying opportunities,” said Ajit Mishra, SVP, Research at Religare Broking.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
US markets
Wall Street's main indexes were mixed on Thursday, with the S&P 500 and the Nasdaq rising, as investors assessed a slew of mixed corporate results and monitored developments in U.S.-China trade war.
The White House on Wednesday indicated that it was open to reducing sweeping tariffs on China, and President Donald Trump stepped back from his attacks on Federal Reserve Chairman Jerome Powell, sending stock indexes higher.
But the optimism faded when Treasury Secretary Scott Bessent said a move to reduce levies would not come unilaterally, while China said in response that the U.S. should lift all unilateral tariff measures against China if it "truly" wanted to solve the trade issue.
A deluge of changing headlines and the lack of clarity in the market are making it difficult for investors to assess the impact of Trump's changing stance on trade policy, creating a volatile environment.
European markets
European shares ended higher on Thursday, boosted by automakers and materials stocks, as investors digested a mixed set of corporate earnings and evaluated the ever-shifting U.S. trade rhetoric.
The pan-European STOXX 600 index erased earlier losses to close 0.4% higher, building on this week's rally.
An index of automobiles and parts led the gains with a 1.9% jump, with French carmaker Renault advancing 4.4% after reporting a small rise in first-quarter revenue.
The basic resources index added 1%, making its fourth straight session of gains on the back of elevated copper prices despite U.S. tariff-related uncertainties.
Tech View
The Nifty remained flat throughout the day, ending on a flattish note, said Rupak De, Senior Technical Analyst at LKP Securities adding that while the short-term sentiment remains strong, signs of fatigue are becoming increasingly evident.
“A small correction may happen if the index sustains below 22,300. On the downside, the Nifty could decline towards 21,900, while resistance is seen at 24,300 and 24,500," said De.
Also read | Explained: Why banks are flying gold worth billions from London to New York amid Trump tariff fears
Most active stocks in terms of turnover
HDFC Bank (Rs 2,485 crore), ICICI Bank (Rs 2,207 crore), IndusInd Bank (Rs 1,860 crore), Waaree Energies (Rs 1,804 crore), BSE (Rs 1,802 crore), Bajaj Finance (Rs 1,734 crore) and HUL (Rs 1,666 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
Vodafone Idea (Traded shares: 43.62 crore), Reliance Power (Traded shares: 10.89 crore), Suzlon Energy (Traded shares: 6.51 crore), IDFC First Bank (Traded shares: 6.51 crore), MMTC (Traded shares: 5.07 crore) and Bajaj Housing Finance (Traded shares: 4.72 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Newgen Software Technologies, MMTC, Whirlpool India, Sonata Software, Natco Pharma, Triveni Engineering and Thermax were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 75 stocks hit their 52 week highs today while 25 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Bajaj Finance, Bajaj Finserv and UltraTech Cement.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Syngene International, Waaree Energies, Vijaya Diagnostic, Can Fin Homes, Nava Bharat Vent., KFIN Technologies and Trans & Rectifiers.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,086 stocks that traded on the BSE on Thursday, 2,063 stocks witnessed declines, 1,887 saw advances, while 136 stocks remained unchanged.
Also read | Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first?
(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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