The Indian equity benchmarks cooled off sharply from their record intraday peaks on Thursday as investors booked profits at higher levels amid weak cues from Europe. Despite early strength, both the Sensex and the Nifty 50 ended almost flat, with mid- and small-caps trailing the large-cap indices.
The Sensex touched a new high of 86,055.86, but closed just 111 points, or 0.13 percent, higher at 85,720.38. The Nifty hit 26,310.45 before settling at 26,215.55, up 10 points, or 0.04 percent. The BSE Midcap index finished flat, while the Smallcap index slipped 0.38 percent.
1. Why the indices pared gains
Profit booking at elevated levels, coupled with softness in major European indices—including the FTSE and CAC—triggered a pullback from the day’s highs. Analysts said markets may remain choppy until clarity emerges on the proposed India–US trade deal and December-quarter earnings.
With Q2 GDP data due tomorrow, investors are also cautious. Economists broadly expect 7–8 percent real GDP growth for Q2 FY26, though nominal growth may show further moderation.
“Market participants are keenly watching tomorrow’s GDP print, the India–US deal, and the RBI policy meeting, which will shape near-term equity direction,” said Vinod Nair of Geojit Financial Services.
2. Top Nifty gainers
Bajaj Finance (up 2.43 percent), ICICI Bank (up 1.37 percent), and Shriram Finance (up 1.33 percent) led the list.
3. Top Nifty losers
Adani Enterprises (down 2.85 percent), Eicher Motors (down 2.70 percent), and Eternal (down 1.52 percent) were among the major laggards. Twenty-nine of the index’s stocks ended lower.
4. Sectoral performance
Nifty Bank rose 0.35 percent to 59,737.30, after hitting a record 59,866.60. Nifty Financial Services gained 0.53 percent.
In contrast, Nifty PSU Bank fell 0.58 percent, while Oil and Gas, Realty, and Consumer Durables declined 0.73 percent, 0.72 percent, and 0.65 percent, respectively.
5. Most active stocks by volume
Vodafone Idea (62 crore shares), Patel Engineering (22 crore), and Jaiprakash Power Ventures (9 crore) topped the NSE volume chart.
6. 14 BSE stocks surge over 10 percent
Patel Engineering, Agri-Tech (India), Cinevista, Prostarm Info Systems, Indo Us Bio-Tech, and Davangere Sugar Company were among those posting double-digit gains.
7. Advance–decline ratio
On the BSE, 1,989 stocks advanced, while 2,159 declined. Around 179 remained unchanged.
8. Over 120 stocks hit 52-week highs
Reliance Industries, Axis Bank, Hero MotoCorp, Larsen & Toubro, Punjab National Bank, and Shriram Finance were among the 122 stocks hitting fresh 52-week highs.
9. Over 140 stocks hit 52-week lows
PC Jeweller, Deepak Nitrite, Magellanic Cloud, EPACK Durable, Entero Healthcare Solutions, and Chemplast Sanmar were among 144 stocks that slipped to 52-week lows.
10. Nifty’s technical outlook
Sudeep Shah of SBI Securities said 26,300–26,330 remains a crucial resistance band. A sustained breakout could push the index towards 26,500 in the near term. Support lies in the 26,090–26,060 zone.
Kotak Securities’ Shrikant Chouhan added that 26,100 and 26,000 remain strong support levels, with resistance expected near 26,350–26,400. A fall below 26,000 could weaken sentiment.
