Synopsis : Indian markets slipped amid muted global cues and a fresh record low in the rupee, even as selective stocks posted sharp gains. Investors stayed cautious ahead of the Economic Survey and a heavy Q3 earnings calendar.
Indian equity benchmark indices traded under pressure on Thursday as cautious global sentiment and currency weakness dampened investor appetite. The US Federal Reserve kept interest rates unchanged overnight in the 3.5–3.75 per cent range, offering limited direction to global markets. Domestically, attention remained focused on the presentation of the Economic Survey 2025–26 by Finance Minister Nirmala Sitharaman later in the day.
At around 11 AM, the BSE Sensex slipped to 81,983.58, down 361 points or 0.44%, while the NSE Nifty50 declined to 25,237.75, lower by 105 points or 0.41%. Market sentiment was further impacted as the Indian rupee hit a fresh all-time low of 91.99 against the US dollar, raising concerns over imported inflation and capital flows.
On the stock-specific front, Hindustan Copper surged as much as 16%, reflecting strong buying interest in metal counters, while L&T gained nearly 3%, supported by steady infrastructure demand. Power Grid and Tata Steel also traded higher. In contrast, Maruti Suzuki, Asian Paints and IndiGo emerged as the top drags on the Sensex.
Despite weakness in frontline indices, broader markets showed resilience. The Nifty MidCap 100 advanced 0.54%, and the Nifty SmallCap 100 rose 0.38%, indicating selective accumulation in mid- and small-cap stocks.
Sectorally, Nifty Auto and Nifty IT were among the top losers, both slipping around 0.7%, while Nifty Realty and Oil & Gas indices gained about 0.4% each, offering some balance to the broader market.
Adding to market activity, investors are tracking a packed Q3 earnings calendar, with results expected from major names including ITC, Vedanta, Adani Power, Canara Bank, Ambuja Cements, Dabur India, Swiggy, NTPC Green Energy, Dixon Technologies, Prestige Estates, Voltas, and Container Corporation of India, among others.
With currency volatility, global uncertainty, and key domestic data in focus, traders remain cautious, preferring selective stock opportunities over aggressive risk-taking.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Readers are advised to consult a qualified financial advisor before making any investment decisions.
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