Synopsis : Indian stock markets opened Thursday’s session on a muted note, breaking a six-day winning streak as Nifty slipped below 25,000 and Sensex fell 50 points. While largecaps saw pressure, midcaps and smallcaps bucked the trend, reflecting resilience in broader markets.
Indian equity benchmarks started Thursday’s trade on a cautious note, ending a six-day winning run. The NSE Nifty 50 opened 16 points lower at 24,957, while the BSE Sensex fell 55 points to 81,370. The Bank Nifty also slipped 100 points to 54,436.
In contrast, broader markets outperformed, with the Nifty Midcap gaining 38 points to open at 58,037. Analysts believe the short-term outlook for the market remains constructive despite today’s soft start.
“The short-term outlook of the market remains positive. After a long time, Nifty closed above the 50-day SMA, which is a bullish sign. As long as the market trades above the 24,920 and 24,850 levels, momentum is likely to sustain,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Highlighting global comparisons, VK Vijayakumar, Chief Investment Strategist at Geojit Investments, noted:
“While global markets like the US, Taiwan, and Korea are setting record highs, Nifty still trades 4.4% below its September 2024 peak. Largecaps are now fairly valued, but mid and smallcaps remain stretched. However, India’s macro resilience and ongoing reforms, particularly in GST, keep the economy poised for strong growth.”
In early trade, the top gainers in the Nifty 50 included Adani Ports, NTPC, Sun Pharma, Jio Financial Services, and Eternal (Zomato). On the other hand, laggards were led by Infosys, SBI Life Insurance, Wipro, Tech Mahindra, and Eicher Motors.
Tech stocks, in particular, came under selling pressure, with Infosys and Wipro among the major drags on the index. Reliance Industries, NTPC, TCS, and ITC also saw weakness in early trade.
While largecap indices remain subdued, investor focus is shifting to midcap and smallcap segments, which continue to exhibit resilience despite valuation concerns. Analysts advise traders to watch key support levels closely as global cues and domestic reforms shape the next leg of the market.
Disclaimer : This article is for informational purposes only and should not be considered as financial or investment advice. Readers are advised to consult a qualified financial advisor before making investment decisions.
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