The benchmark BSE Sensex lost 528.28 points or 0.68% to close at 77,620.21, while the broader Nifty 50 index closed at 23,526.50, lower by 162.45 points or 0.69%.
Here’s how analysts read the market pulse:
Commenting on the day’s action, Vinod Nair, Head of Research at Geojit Financial Services said that the Indian stock market mirrored the decline across its Asian peers, with cautious investor sentiment driven by a sell-off in U.S. bonds, adding that the U.S. 10-year Treasury yield surged to its highest level since April 2024, signalling expectation of fewer rate cuts by the Fed.
“Further, disappointing inflation data from China added pressure, indicating that recent stimulus measures have failed to rejuvenate one of the world’s largest consumer markets. Domestically, the FMCG sector outperformed, while other sectors declined, anticipating only modest improvement in Q3 earnings estimates, cautioning against high expectations,” Nair added.
US markets
U.S. stock markets are closed Thursday for a National Day of Mourning for former President Jimmy Carter.
European Markets
European stocks shed early losses to edge higher on Thursday, as gains in miners offset declines in retailers although uncertainty about the monetary policy path and U.S. tariff plans kept bond markets under pressure.Concern about rising inflation, reduced chances of a drop in interest rates, uncertainty over how U.S. president-elect Donald Trump will conduct foreign or economic policy, and the prospect of trillions of dollars in extra debt sales have sent bond yields soaring around the world this week.A report about U.S. President-elect Donald Trump considering declaring a national economic emergency to provide legal justification for a series of universal tariffs also hurt market sentiment.
Tech View
The Nifty index closed slightly above its critical support at 23,500 on Thursday, forming a bearish candlestick below the 200-day EMA, signaling caution, said Vatsal Bhuva, Technical Analyst at LKP Securities, adding that a follow-up breach below 23,500 would validate a sell-on-rise strategy, with further downside expected.
“Conversely, holding this support may lead to consolidation. For the short term, 23500 acts as a key support, while resistance is placed at 23800, capping any upside. Traders should monitor these levels closely, as they will dictate the index’s immediate directional trend,” Bhuva added.
Most active stocks in terms of turnover
HDFC Bank (Rs 3,371.25 crore), SRF Ltd (Rs 2,734.87 crore), Reliance Industries (Rs 1,608.89 crore), Tata Motors (Rs 1,408.69 crore), Navin Fluorine (Rs 1,348.55 crore), Infosys (Rs 1,317.59 crore) and Zomato (Rs 1,229.62 crore) were among the most active stocks on NSE 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: 33.89 crore), YES Bank (Traded shares: 7.16 crore), Zomato (Traded shares: 4.95 crore), Easy Trip Planners (Traded shares: 4.86 crore), Manappuram Finance (Traded shares: 4.77 crore), Suzlon Energy (Traded shares: 3.50 crore) and Tata Steel (Traded shares: 3.19 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of SRF Ltd, Balaji Amines, Navin Fluorine, Alkyl Amines, NLC India, Marico and GIC were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 131 stocks hit their 52 week highs today while 123 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Navin Fluorine and PTC Industries.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were ITI Ltd, Aegis Logistics, Kalyan Jewellers India, Oil India Ltd, Phillips Carbon, HUDCO and Blue Star.
Sentiment meter favours bears
The market sentiments were bearish. Out of the 4,067 stocks that traded on the BSE on Thursday, 2,826 stocks witnessed declines, 1,144 saw advances, while 97 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 Economic Times)
