Indian benchmark indices ended Thursday’s trading session on a weak note. The Sensex closed the day at 83,152.84, down 383.24 points or 0.46%, while the Nifty settled at 25,355.25, slipping 120.85 points or 0.47%.
The broader banking index, Nifty Bank, also came under pressure and ended at 56,956, down 0.45%.
“Indian equities concluded the day in the red, weighed down by weakness in IT stocks ahead of TCS’s Q1 results. Investor sentiment remains cautious ahead of the Q1 results in anticipation of a muted start to the season from the IT and finance sectors. However, the recent consolidation in the IT stocks largely factors in the muted outlook, limiting further worries. Meanwhile, mid- and small-caps had limited negative action, reflecting a wait-and-watch approach amid rising expectation of a better earnings outlook compared to large caps,” said Vinod Nair, Head of Research, Geojit Investments.
Let’s take a look at the key highlights of today’s trading session-
Top gainers
Maruti, Tata Steel, Bajaj Finance, Bajaj Finserv, and Trent were among the top gainers, providing some cushion to the indices.
Top laggards
On the flip side, selling was seen in frontline IT and telecom names. Bharti Airtel, Asian Paints, Infosys, and Bharat Electronics were among the top laggards of the day.
Top performing BSE indices today
In today’s market session, select BSE indices outperformed. Leading the charge was the BSE SME IPO index. The BSE Metal index also saw traction. Meanwhile, the BSE Enhanced Value and SmallCap indices posted marginal gains.
Top sectors in Thursday’s trade
In today’s session, leather sector lead the gains, a 1.45% rise in market capitalisation. This was closely followed by the glass industry, which posted a 1.39% uptick. The electronics sector also saw movement with a 0.9% gain, while the iron and steel space ended the day with a modest 0.75% increase.
TCS Results in focus as Nifty holds key support
“Markets will react to TCS’s earnings in early trade, with a keen eye on management commentary, which could set the initial tone. With the Nifty now hovering near its immediate and crucial support zone—marked by the 20-day exponential moving average (20-DEMA) and the upper boundary of its previous consolidation range around the 25,200–25,300 zone – it will be critical for the index to hold this level to maintain its positive bias. That said, with the earnings season underway, stock-specific opportunities are likely to emerge on both sides, so participants should align their positions accordingly,” said Ajit Mishra – SVP, Research, Religare Broking.