Synopsis : Indian markets declined on Thursday, with IT and pharma stocks under pressure ahead of TCS earnings and amid rising uncertainty over a possible India-US trade deal. Financial stocks provided some cushion, while small and midcaps showed resilience.
Indian benchmark indices began Thursday's session on a downbeat note, led by declines in the IT and pharmaceutical sectors. The BSE Sensex plunged over 300 points, trading below 83,200, while the NSE Nifty 50 dipped beneath 25,400, reflecting widespread caution among investors.
Markets are grappling with volatility as anticipation builds around a potential India-US trade deal and the onset of the Q1FY26 earnings season, with TCS slated to announce results later today.
Sectoral Snapshot
The Nifty IT index was the biggest drag, led by losses in Wipro and Infosys. The Auto, Pharma, and FMCG sectors also opened lower. However, financials showed resilience, and midcap and smallcap indices posted modest gains, helping cushion the overall decline.
“Uncertainty around US tariff threats and global inflationary concerns is keeping traders on edge. If the India-US trade deal is delayed or lacks substance, markets may remain under pressure,” analysts said.
Notable Stock Movers
Enviro Infra rallied 6% after its JV won a ₹395 crore pollution control project in Maharashtra.
Waaree Energies gained 2% following the launch of an OFS to sell a 2.4% stake in a subsidiary.
Global Market Mood
S&P 500 Futures: -0.2%
Japan’s Topix: -0.7%
Australia’s ASX 200: +0.6%
Hong Kong’s Hang Seng: +0.1%
Shanghai Composite: +0.4%
Euro Stoxx 50 Futures: +0.2%
Despite some gains in Asia, sentiment remains fragile globally, especially with Wall Street futures indicating weakness.
What to Watch Next
All eyes are on the TCS earnings report today, which will provide cues for the broader IT sector. Additionally, any update on India’s trade deal negotiations with the US could shift market momentum drastically.
Analysts advise traders to remain cautious and watch key support levels around 25,300 on the Nifty and 83,000 on the Sensex, with upside resistance near 25,550 and 83,500, respectively.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.