On Wednesday, the market ended lower with the Sensex and Nifty continuing their decline as concerns over possible US tariffs and continued foreign investor outflows outweighed gains in metals and banking stocks.The benchmark BSE Sensex fell 245 points, or 0.29%, to end at 83,382.71, while the NSE Nifty 50 fell 66.7 points, or 0.26%, to 25,665.60. The decline marked the seventh loss in eight sessions for both indices, reflecting fragile investor sentiment despite sectoral strength.
This is how analysts read the market pulse:
Domestic markets remained cautious amid continued uncertainty over the India-US trade deal, with financial institutions remaining risk averse, said Vinod Nair, head of research at Geojit Investments, adding that the restart of negotiations this week has raised new hopes.
“Metals led the rally as prices rose on expectations of US rate cuts, supported by softer inflation data and demand for safe havens amid geopolitical tensions. Broader markets performed well on selective buying in the mid- and small-cap space. Global equities traded mixed as investors awaited the US December PPI and major bank earnings. Looking ahead, the focus will shift to Q3 FY26 earnings, with initial IT results largely in were in line with expectations, although results were affected by one-off incidents.” costs,” said Nair.
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American markets
Wall Street’s major indexes rebounded Thursday after a two-day slide, thanks to a chip-led rally fueled by TSMC’s blockbuster results, as investors sifted through earnings from Morgan Stanley and Goldman Sachs to wrap up the big banks’ reporting season.
Chip stocks like Nvidia rose 2%, while Broadcom and Micron rose 1.4% and 1.9%, respectively. Chip manufacturers Applied Materials, Lam Research and KLA each achieved more than 7%.The world’s leading maker of advanced AI chips, TSMC, forecast robust annual growth and indicated more U.S. manufacturing capacity is in the works. U.S.-listed shares of TSMC rose 5.4%. The broader infotech sector rose 1.3%, while banks rose 0.9%.
BlackRock, the world’s largest asset manager, gained 3.8% after a rally in the markets boosted fee income and pushed assets under management to a record $14.04 trillion in the fourth quarter.
With geopolitical and economic data fading into the background, investors are betting on the fundamentals as earnings season kicks off to test whether the rally still has traces.
European markets
Although European investors appear negative about the upcoming earnings season, they have pushed stock markets to records, with the FTSE, DAX and STOXX indexes recently reaching all-time highs.
The pan-European STOXX 600 rose 0.4% as of 0940 GMT. Technology stocks rose 1.8%, hovering at levels not seen since 2000, while financials rose 1.3%.
Technical view
The Nifty remained volatile during the day and traded with a bearish bias for most of the session. On the hourly chart, the index failed to move above the 21 EMA, indicating a prevailing weak trend, said Rupak De, Senior Technical Analyst at LKP Securities. He added that the bearish crossover between the 21 EMA and the 50 EMA remains intact, reinforcing negative sentiment.
“The RSI has witnessed a break after an upward consolidation, confirming a meaningful shift in momentum. In the near term, sentiment is likely to remain weak with potential for further downside pressure. Support is placed at 25,600, below which a deeper correction may occur. On the higher side, resistance is at 25,835,” De said.
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Most active stocks in terms of turnover
HDFC Bank (Rs 3,411 crore), Vedanta (Rs 3,064 crore), Hindustan Copper (Rs 3,004 crore), ICICI Bank (Rs 1,972 crore), Hindustan Zinc (Rs 1,822 crore), Union Bank India (Rs 1,556 crore) and Jupiter Wagons (Rs 1,499 crore) were among the most active stocks by value BSE. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (shares traded: Rs 69.75 crore), MMTC (shares traded: Rs 11.95 crore), Union Bank India (shares traded: Rs 8.85 crore), Bank of Maharashtra (shares traded: Rs 7.7 crore), YES Bank (shares traded: Rs 6.97 crore), Ola Electric Mobility (shares traded: Rs 5.66 crore) and Tata Steel (shares traded: Rs 5.59 crore) were among the most actively traded stocks on NSE in terms of volume.
Stocks that show buying interest
Shares of MMTC, Jupiter Wagons, MRPL, Union Bank India, Chennai Petro, Hindustan Copper and Vedanta were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 88 stocks hit their 52-week highs today, while 222 stocks fell to their 52-week lows. SBI and Tata Steel were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Tata Elxsi, V-Guard, Nippon Life AMC, Polycab India, Kalyan Jewellers, Go Digit General Insurance and Hexaware Technologies.
Sentiment gauge bearish
Market sentiment was bearish. Of the 4,344 shares traded on the BSE on Wednesday, 2,219 shares saw a decline, 1,960 rose, while 165 shares remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
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