Indian equities ended Thursday’s session with a mild negative bias, reflecting continued indecision. The BSE Sensex closed 77.84 points lower at 84,481.81, while the Nifty 50 finished almost flat at 25,815.55, down 3 points. The benchmark continues to find near-term support around the 25,750 level. As long as this zone holds, the ongoing consolidation phase is likely to extend.
The Nifty opened lower at 25,764.70 and slipped to an intraday low of 25,726.30 in early trade. Buying interest at lower levels helped the index recover steadily to an intraday high of 25,902.30 before it settled near the middle of the day’s range.
Sectorally, IT, realty, metals and PSU banks outperformed, while media, auto, pharma and FMCG stocks faced selling pressure. Market breadth remained negative, with 1,261 stocks advancing against 1,816 declines, underlining cautious sentiment.
Among Nifty stocks, IndiGo, TCS, Max Healthcare and Tech Mahindra were the top gainers, while Sun Pharma, Tata Steel, Power Grid and Asian Paints were among the major laggards.
At 6:43 am IST, the GIFT Nifty was trading at 25,948, up 75 points, signalling a positive opening for Indian equity markets. The move reflects improved global sentiment and supportive cues from Asian peers.
Momentum indicators continue to show a mild negative bias, with the index trading below its short-term moving averages. The formation of a white candle on the daily chart points to range-bound consolidation rather than fresh weakness. Immediate support lies at 25,750; a decisive break below this level could trigger further downside. On the upside, a breakout above the 25,930–26,000 zone is needed to revive short-term bullish momentum.
Intraday support: 25,775 / 25,700 / 25,625
Intraday resistance: 25,850 / 25,930 / 26,000
Positional support: 25,750 / 25,250
Positional resistance: 26,350 / 27,000
Bank Nifty – technical outlook
The Bank Nifty closed marginally lower at 58,912.85, down 13.90 points. The index remains below short-term moving averages, keeping the near-term trend cautious. A white candle near key support levels suggests consolidation. Support at 58,580 is crucial; a sustained break below could extend the corrective phase, while holding above it may allow a technical pullback.
Intraday support: 58,900 / 58,700 / 58,500
Intraday resistance: 59,100 / 59,300 / 59,525
Positional support: 58,580 / 57,200
Positional resistance: 60,000 / 61,250
US markets
Wall Street ended higher in the previous session, led by strong buying in technology stocks amid improving risk appetite. The Dow Jones Industrial Average added 65.88 points to close at 47,951.85, while the Nasdaq Composite jumped 313.04 points to finish at 23,006.36. Gains were largely driven by continued strength in mega-cap technology names.
European markets
European equities also closed in positive territory, tracking firm global cues and selective buying in industrial and financial stocks. The FTSE 100, CAC 40 and DAX ended moderately higher as investors drew comfort from stable economic data and easing macroeconomic concerns.
Asian markets
Asian markets opened on a mixed note on Thursday. Japan’s Nikkei 225 rose about 180 points to trade near 49,477.50, supported by gains in export-oriented stocks amid a weaker yen. In contrast, Hong Kong’s Hang Seng Index slipped around 6.5 points to hover near 25,674, as investors remained cautious ahead of key regional economic signals.
Crude oil prices traded with a mild negative bias in early trade, weighed down by supply-side concerns and a cautious demand outlook. Gold edged slightly lower, hovering near the 4,362 level, while silver traded higher around 65.52, showing a positive bias in the morning session.
The dollar index traded marginally higher near the 98.45 level. The rupee was largely flat against the dollar, quoted around 90.26 in early trade.
