After a steady start to the day, Indian equities lost some momentum in afternoon trade on Wednesday, with both benchmark indices slipping into the red. The BSE Sensex hovered around 81,278.93, down 33.39 points or 0.04%, while the NSE Nifty remained marginally below the 24,750 mark, slipping 9.10 points to 24,743.35.
Indian stock markets kicked off Thursday’s session on a positive note, with benchmark indices opening in the green. The Sensex began the day at 81,754.30, up by 0.54%, while the Nifty opened at 24,886.05, gaining 0.54%.
Banking stocks also showed strength early on, with the Nifty Bank starting the session at 55,663.40, up by 0.44%.
“Trump’s tariff-related news continues to impact markets. The US Federal court striking down the reciprocal tariffs is a clear message that the maverick president cannot ride roughshod over markets and economy with his questionable decisions. This court ruling is the second big blow to President Trump after the blow delivered by the bond market which forced the Trump administration to pause the tariffs for 90 days. From the market perspective, this is a positive development,” said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments.
Key factors to watch out for-
Top gainers in early trade
In early trading, several heavyweight stocks are leading the charge. Among the Sensex 30, the top performers so far include Infosys, Tata Steel, Tata Motors, HCL Tech and Tech Mahindra.
Stocks under pressure
Not all stocks are participating in the rally. Some names in the Sensex pack are facing selling pressure. The key laggards at this hour include Bajaj Finance and Maruti.
Earnings to watch today
Back home, the spotlight is on earnings, with over 320 companies scheduled to announce their Q4 results today. Key firms to watch include Bajaj Auto, Samvardhana Motherson, Suzlon Energy, Alkem Laboratories, Ipca Labs, Prestige Estates, SJVN, NBCC (India), and Jubilant Agri and Consumer Products. Investors will be keen to track sectoral performance, especially in auto, pharma, and infrastructure.
Asia-Pacific Markets rally
Markets across Asia are off to a strong start, taking cues from the US court ruling that struck down Trump-era tariffs. Japan’s Nikkei 225 rose 1.18%, while the Topix added 0.79%. South Korea’s Kospi and Kosdaq also posted gains of 0.78% and 0.44%, respectively. Australia’s S&P/ASX 200 inched up 0.12%.
Wall Street
The US Federal Reserve’s meeting minutes released overnight suggest that inflation concerns persist. Though US markets ended lower on Wednesday due to caution ahead of Nvidia’s results.
Wall Street closed in negative territory on Wednesday. The S&P 500 fell 0.56% to 5,888.55, the Nasdaq Composite dipped 0.51% to 19,100.94, and the Dow Jones lost 244.95 points, settling at 42,098.70.
Several key factors are shaping investor sentiment this morning. A major development in the US – a federal court striking down President Trump’s sweeping “reciprocal” tariffs has triggered optimism across Asian markets.