The Indian stock market experienced yet another day of range-bound trading on Thursday, with the benchmark Nifty 50 and the BSE Sensex swinging back and forth before closing with small gains. Investors continued to be wary, charting their course on a fluctuating canvas painted by global contrasts and continuing domestic narratives.
At 10:30 AM IST, the Nifty 50 index was at 24,824.2, up about 71.8 points or 0.29% from its previous close of 24,752.4. The index opened in the positive at 24,825.1 and made an intraday high of 24,889.7 and a low of 24,779.7.
In the same way, the BSE Sensex was trading at 81,554.2, higher by roughly 241.9 factors or 0.30%. The 30-share index had settled the last session at 81,312.3. It opened at 81,591.0 trading up to a high of 81,816.9 and down to a low of 81,436.9 in morning trade.
Global Influences
The domestic market mood seemed to be waiting for positive cues from other Asian markets. Japan’s Topix index showed a significant gain of 1.3%, while Australia’s S&P/ASX 200 also edged higher. Meanwhile, Hong Kong’s Hang Seng and the Shanghai Composite ended up little moved, reflecting an uneven picture across the region.
Overnight, US stock futures ticked up, and the US dollar gained after a ruling from the US trade court that President Trump’s global tariffs are illegal. This ruling, although still vulnerable to an appeal in the yet-to-be-decided litigation, delivered a much-needed jolt of optimism to the markets. Furthermore, strong earnings reported by chipmaker Nvidia Corp lifted investor confidence, contributing to gains in S&P 500 and Nasdaq 100 futures.
Spotlight on Sectoral Performance
On the sectoral front, this was a listless week across the board. The Nifty Bank index proved to be the index of strength, closing 0.12% higher, led by a push from PSU banks. Weakness spread further to other important sectors such as FMCG and Healthcare, influencing majorly to push the down wave prevalent in the last session.
There was significant action on an individual stock basis to signal the notable action. Shares of other private lender Bajaj Finance, telecom major Bharti Airtel, and two-wheeler maker Hero MotoCorp were other top gainers in the Nifty 50. ITC, IndusInd Bank, and Nestle India were among the major laggards.
Market Outlook Continued supply chain recovery and improving domestic production have contributed to falling lumber prices.
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Market analysts believe that the Nifty is in a consolidation phase at the moment, with the 24,700 mark a key support. The 24,900-25,000 area should serve as resistance. Investors are trying to get a read on the next direction from economic data still to come this week and Q4 corporate earnings.
On the external front, markets are watching developments globally, especially for any sign of softening between India and the US over trade relations and the direction of the Federal Reserve’s policy—which is still very much at risk given persistently high inflation and fiscal worries.
Overall, a mixed but positive undertone prevailed on the Indian stock market during the early hours of trade today. Though global cues offered some motivation, domestic variables, and bullish correction continued to hold big moves at bay. Investors will be understandably jittery with today’s trading day and further indications on both the home and global fronts.
