10 things that will decide D-Street action on Friday
The Indian market closed lower on Thursday, giving up early gains, with the Nifty slipping 182 points from its intraday high of 25,587.50 amid heightened volatility on the weekly F&O expiry. The Sensex declined 610.62 points from the day’s high as investors awaited clarity on a potential trade deal between the U.S. and India.
The BSE Sensex declined 170.22 points, or 0.20%, to close at 83,239.47, while the NSE Nifty slipped 48.10 points, or 0.19%, to settle at 25,405.30.
Here's how analysts read the market pulse:
The domestic equity market continued to consolidate as profit booking followed last week's sharp rally, said Vinod Nair, Head of Research, Geojit Investments, adding that investors remain watchful of developments surrounding the potential U.S.–India trade agreement, with the 90-day pause nearing its end.
“FIIs have turned cautious in recent days due to premium valuation. Despite these headwinds, sentiment remains supported by optimism surrounding the upcoming earnings season and the weakening U.S. dollar index," said Nair.
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U.S. markets
U.S. stocks rallied on Thursday, with the S&P 500 and Nasdaq ending at fresh record highs, powered by a robust U.S. jobs report and a surge in Nvidia shares that pushed the chipmaker’s valuation close to $4 trillion.
The Dow Jones Industrial Average gained 344.11 points, or 0.77%, to close at 44,828.53. The S&P 500 advanced 51.94 points (up 0.83%) to finish at 6,279.36, while the Nasdaq Composite jumped 207.97 points, or 1.02%, settling at 20,601.10.
European markets
European markets ended higher on Thursday, buoyed by resilience to a stronger-than-expected U.S. jobs report. Banking stocks led the charge, while investor sentiment remained anchored to hopes of a potential trade agreement between the European Union and the United States.
The pan-European STOXX 600 rose 0.5%, mirroring positive momentum from Wall Street, where the S&P 500 gained 0.9%.
Tech View
The Nifty remained within the trading range of the previous session, forming an inside day bar on the daily timeframe, said Rupak De, Senior Technical Analyst at LKP Securities, adding that “this inside bar reflects indecision among traders, as they await possible outcomes from the US-India trade deal.”
“Additionally, market participants seem cautious ahead of the expiry of the tariff deadline. Technically, Nifty remains below the resistance level of 25,500 but above the crucial support at 25,300. Therefore, we expect the index to continue trading in a range over the coming days, as long as it stays within the 25,300–25,500 band," said De.
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Most active stocks in terms of turnover
Reliance Industries Ltd (Rs 1,716 crore), HDFC Bank (Rs 1,680 crore), ICICI Bank (Rs 1,455 crore), Aster DM Healthcare (Rs 1,410 crore), FSN E-Comm (Nykaa) (Rs 1,210 crore), DCM Shriram (Rs 1,154 crore) and Bharti Airtel (Rs 1,128 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 the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 71.14 crore), JP Power (Traded shares: 6.75 crore), Tata Steel (Traded shares: 6.05 crore), FSN E-Comm (Nykaa) (Traded shares: 5.95 crore), Ola Electric Mobility (Traded shares: 5.86 crore), YES Bank (Traded shares: 5.59 crore) and Suzlon Energy (Traded shares: 4.83 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of DCM Shriram, Aster DM Healthcare, Motilal Oswal, Authum Investment, Honeywell, Bosch and Natco Pharma were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 148 stocks hit their 52 week highs today while 54 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included UltraTech Cement.
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Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Raymond, FSN E-Comm (Nykaa), Reliance Power, InterGlobe Aviation, PNB, Rites and Karur Vysya Bank.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,168 stocks that traded on the BSE on Thursday, 2,084 stocks witnessed declines, 1,939 saw advances, while 145 stocks remained unchanged.
(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 declined 170.22 points, or 0.20%, to close at 83,239.47, while the NSE Nifty slipped 48.10 points, or 0.19%, to settle at 25,405.30.
Here's how analysts read the market pulse:
The domestic equity market continued to consolidate as profit booking followed last week's sharp rally, said Vinod Nair, Head of Research, Geojit Investments, adding that investors remain watchful of developments surrounding the potential U.S.–India trade agreement, with the 90-day pause nearing its end.
“FIIs have turned cautious in recent days due to premium valuation. Despite these headwinds, sentiment remains supported by optimism surrounding the upcoming earnings season and the weakening U.S. dollar index," said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
U.S. markets
U.S. stocks rallied on Thursday, with the S&P 500 and Nasdaq ending at fresh record highs, powered by a robust U.S. jobs report and a surge in Nvidia shares that pushed the chipmaker’s valuation close to $4 trillion.
The Dow Jones Industrial Average gained 344.11 points, or 0.77%, to close at 44,828.53. The S&P 500 advanced 51.94 points (up 0.83%) to finish at 6,279.36, while the Nasdaq Composite jumped 207.97 points, or 1.02%, settling at 20,601.10.
European markets
European markets ended higher on Thursday, buoyed by resilience to a stronger-than-expected U.S. jobs report. Banking stocks led the charge, while investor sentiment remained anchored to hopes of a potential trade agreement between the European Union and the United States.
The pan-European STOXX 600 rose 0.5%, mirroring positive momentum from Wall Street, where the S&P 500 gained 0.9%.
Tech View
The Nifty remained within the trading range of the previous session, forming an inside day bar on the daily timeframe, said Rupak De, Senior Technical Analyst at LKP Securities, adding that “this inside bar reflects indecision among traders, as they await possible outcomes from the US-India trade deal.”
“Additionally, market participants seem cautious ahead of the expiry of the tariff deadline. Technically, Nifty remains below the resistance level of 25,500 but above the crucial support at 25,300. Therefore, we expect the index to continue trading in a range over the coming days, as long as it stays within the 25,300–25,500 band," 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
Reliance Industries Ltd (Rs 1,716 crore), HDFC Bank (Rs 1,680 crore), ICICI Bank (Rs 1,455 crore), Aster DM Healthcare (Rs 1,410 crore), FSN E-Comm (Nykaa) (Rs 1,210 crore), DCM Shriram (Rs 1,154 crore) and Bharti Airtel (Rs 1,128 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 the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 71.14 crore), JP Power (Traded shares: 6.75 crore), Tata Steel (Traded shares: 6.05 crore), FSN E-Comm (Nykaa) (Traded shares: 5.95 crore), Ola Electric Mobility (Traded shares: 5.86 crore), YES Bank (Traded shares: 5.59 crore) and Suzlon Energy (Traded shares: 4.83 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of DCM Shriram, Aster DM Healthcare, Motilal Oswal, Authum Investment, Honeywell, Bosch and Natco Pharma were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 148 stocks hit their 52 week highs today while 54 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included UltraTech Cement.
Also read | Eternal shares up 30% since March. Investors are feasting, but can Zomato’s parent justify the appetite?
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Raymond, FSN E-Comm (Nykaa), Reliance Power, InterGlobe Aviation, PNB, Rites and Karur Vysya Bank.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,168 stocks that traded on the BSE on Thursday, 2,084 stocks witnessed declines, 1,939 saw advances, while 145 stocks remained unchanged.
(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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