The S&P BSE Sensex fell 592.67 points, or 0.70%, to close at 84,404.46, while the NSE Nifty 50 fell 176.05 points, or 0.68%, to end at 25,877.85.
This is how analysts read the market pulse:
As expected, the US Fed cut rates by 25 basis points, but the market consolidated after Powell signaled this could be the last rate cut of 2025, dampening hopes for further monetary easing, said Vinod Nair, head of research at Geojit Investments, adding that the US dollar’s resulting strength was adding to a sense of risk in emerging markets including India.
“Domestically, mixed Q2 earnings and F&O expiration led to market volatility. Meanwhile, investors remain vigilant on the Trump-Xi trade talks as the prevailing uncertainty surrounding the discussions continues to keep market sentiment cautious,” Nair said.
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American markets
The S&P 500 and Nasdaq lost ground on Thursday as Meta Platforms and Microsoft fell on concerns about rising AI spending, already raising investor concerns about the pace of monetary policy easing by the U.S. Federal Reserve. Meta tumbled 12.1%, on track for its biggest percentage decline in three years, after Instagram parent predicted “significantly larger” capital expenditures next year thanks to investments in artificial intelligence. Microsoft fell 2.3% after the tech giant reported record capital expenditures of nearly $35 billion for its first fiscal quarter and warned that spending would rise this year.
European markets
The MSCI index of shares around the world fell 5.98 points, or 0.59%, to 1,008.44, on track for the biggest daily percentage decline since October 10, while the pan-European STOXX 600 index fell 0.38%.
European shares were held lower after the European Central Bank (ECB) kept interest rates unchanged at 2% for the third time in a row and gave no hints about future moves as the bank experiences a rare period of low inflation and steady growth despite trading turbulence.
Technical view
“The bears remained in control while the Nifty Bulls remained on the sidelines after a slightly less forgiving commentary from the Fed,” said Rupak De, Senior Technical Analyst at LKP Securities. He added that while the short-term trend remains upward and the index is trading well above its short-term average, a small extension of the correction cannot be ruled out.
“If Nifty stays below 25,900-25,950 on Friday, it could test 25,800 or lower. On the other hand, a decisive move above 25,950 could give the much-needed strength to the bulls,” De said.
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Most active stocks in terms of turnover
Sagility India (Rs 3,079 crore), Blue Dart (Rs 2,355 crore), Five-Star Business Finance (Rs 2,134 crore), HDFC Bank (Rs 1,999 crore), L&T (Rs 1,993 crore), BHEL (Rs 1,924 crore) and Vodafone Idea (Rs 1,857 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 214.68 crore), Sagility India (shares traded: Rs 55.69 crore), Canara Bank (shares traded: Rs 9.34 crore), Suzlon Energy (shares traded: Rs 8.34 crore), YES Bank (shares traded: Rs 8.08 crore), BHEL (shares traded: Rs 7.54 crore) and Adani Power (shares traded: Rs 6.49 crore). crore) were among the most actively traded stocks on NSE by volume.
Stocks that show buying interest
Shares of Chennai Petro, Sagility India, Policy Bazaar, BHEL, Five-Star Business Finance, Aditya Birla Capital and Neuland Labs were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 147 stocks hit their 52-week highs today, while 56 stocks fell to their 52-week lows. Canara Bank, SBI and JK Tire were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Vodafone Idea, Sarda Energy, IDBI Bank, Dr. Reddys, LIC Housing, NMDC Steel and Coromandel International.
Sentiment gauge bearish
Market sentiment was bearish. Of the 4,322 shares traded on the BSE on Thursday, 2,291 shares saw a decline, 1,876 rose, while 155 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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