World
India
Indian stock markets opened on a cautious note on Thursday as investors weighed the start of the fourth-quarter earnings season alongside weak global cues. Both benchmark indices registered mild declines in the early session. The Nifty 50 index opened at 23,401.85, down 35.35 points or 0.15 per cent, while the BSE Sensex began the day at 76,968.02, slipping 76.27 points or 0.10 per cent. Market sentiment remained fragile as concerns grew over the economic impact of tariffs imposed by US President Donald Trump. US Federal Reserve Chair Jerome Powell also highlighted the significance of tariffs on the global economy, reinforcing investor caution.
Sectoral Indices Under Pressure
Most sectoral indices opened in the red, with only Nifty Pharma, Nifty PSU Bank, and Nifty Realty showing gains. Nifty Auto dropped 0.89 per cent, while Nifty IT declined by more than 2 per cent, indicating sharp selling in technology stocks. The broader market reflected similar weakness as global uncertainties weighed on sentiment.
Key Earnings in Focus
Investor focus shifted to the fourth-quarter earnings results of several major companies. Infosys, HDFC Life Insurance Company, Jio Financial Services, HDFC Asset Management Company, Tata Elxsi, and Mahindra EPC Irrigation are among the firms announcing their financial results today. Market participants are closely watching these reports for indications of corporate performance and market direction.
Expert Views on Market Sentiment
Ajay Bagga of Banking and Market told ANI, “The outperformance of the Indian markets is the story of the week, with FPI flows turning positive for the last two days. Financials have led the charge on expected lines while globally linked sectors like IT have struggled.” He added, “US markets closed lower on bad news from chip makers and on a straight-talking speech by Fed Chair Powell, which acknowledged the uncertain, though significantly higher, impact of Trump tariffs on the economy.”
Technical Analysis and Market Outlook
Akshay Chinchalkar, Head of Research at Axis Securities, said, “The Nifty gained yesterday after holding above immediate support defined by Tuesday’s Hanging Man candle low of 23207. That said, the index is now testing an area defined by a key Fibonacci resistance level and the falling trendline originating at the record high and passing through the March highs of 23869; this spans the 23475 – 23600 zone. Yesterday’s close was also above the 100-day moving average in a sign of encouragement for bulls.”
As earnings season gains momentum, analysts expect markets to remain volatile and driven by stock-specific developments.
(With Inputs From ANI)
