This is how analysts read the market pulse:
Volatility dominated the domestic market, with broad-based gains amid continued financial outflows despite a supportive Asian market and early optimism over the inclusion of four Indian companies in the MSCI Global Standard Index. Strong US macro data was offset by weak domestic PMI data, pointing to softening sentiment, said Vinod Nair, head of research at Geojit Investments. “Most sectors were lower, although IT stocks remained resilient, supported by earnings expectations and improving US macro data. Despite general caution, there was selective buying in fundamentally strong companies on the back of better-than-expected second quarter earnings,” Nair said.
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American markets
Wall Street’s major indexes fell on Thursday as technology stocks came under new selling pressure, while concerns about US tariffs and uncertainty about the health of the economy kept investors on edge. Most technology stocks fell as concerns about high valuations continued after a brief reprieve on Wednesday. Warnings from Wall Street executives of a market pullback on Tuesday had led to a sharp sell-off in the markets, driven by AI-linked stocks. Apple fell 0.3%, Microsoft fell 1.6% and Nvidia lost 1.2%. The information technology sector fell by 1.2%.
European markets
The pan-European STOXX 600 lost a modest 0.2%, but French data center equipment company Legrand saw its shares tumble almost 12% as it showed how painful US trade tariffs are proving to be.
Technical view
The Nifty fell below the critical 21EMA on the daily time frame, indicating weakness, said Rupak De, Senior Technical Analyst at LKP Securities. However, the index has fallen towards the support of the previous swing high, around 25,450.
“Going forward, the short-term trend may weaken further if the index falls below 25,450. On the other hand, if the index remains above 25,450, a significant trend reversal may occur,” De said.
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Most active stocks in terms of turnover
ICICI Bank (Rs 3,208 crore), Hindalco (Rs 2,720 crore), RIL (Rs 2,506 crore), Redington (Rs 2,495 crore), SBI (Rs 2,222 crore), HDFC Bank (Rs 2,193 crore) and Bharti Airtel (Rs 2,008 crore) were among the most active stocks by value on 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 73.14 crore), Suzlon Energy (Shares traded: Rs 14.72 crore), Reliance Power (Shares traded: Rs 11.67 crore), Redington (Shares traded: Rs 8.8 crore), YES Bank (Shares traded: Rs 7.83 crore), Eternal (Shares traded: Rs 4.47 crore) and Sagility India (Shares traded: Rs 4.43). crore) were among the most actively traded stocks on NSE by volume.
Stocks that show buying interest
Shares of Redington, International Gemmological Institute, CCL Products, Bajaj Holdings, Astral Tech, Gujarat Pipavav Port and Asian Paints were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 124 stocks hit their 52-week highs today, while 173 stocks fell to their 52-week lows. PayTM, SBI and Titan were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that saw significant selling pressure included Netweb Technologies, Delhivery, BEML, Aditya Birla Retail, Blue Star, Grasim Industries and Indian Hotels.
Sentiment gauge bearish
Market sentiment was bearish. Of the 4,353 shares traded on the BSE on Thursday, 3,012 shares saw a decline, 1,202 rose, while 139 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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