Indian markets are set for a weak start today as Gift Nifty slipped 3,132 points, trading near 24,466. This comes against Nifty 50’s previous close of 24,712, indicating a likely negative opening of 50–60 points.
Global Market Cues
- Dow Jones closed mildly positive overnight.
- In Asia, Nikkei gained 158 points, while Hang Seng dropped 274 points, showing mixed trends.
Nifty & Bank Nifty Performance
On Wednesday, Nifty 50 fell 250 points and Bank Nifty corrected 700 points, both ending near day’s lows.
- The crucial 25,000 mark, once a strong support for Nifty, is now acting as resistance.
- Bank Nifty closed at 54,450 after breaking the 55,000 support level, making it a new resistance zone.
FII-DII Data & Volatility
- FIIs sold shares worth ₹6,516 crore, while DIIs bought ₹7,060 crore.
- India VIX rose above 12, reflecting higher volatility.
- Put-Call Ratio (PCR) dropped to 0.72, signaling market weakness.
Stock Highlights
Top Gainers (Previous Session):
- Ashok Leyland +2.5%
- Maruti Suzuki +2%
- ITC +1%
Top Losers (Previous Session):
- Shriram Finance –4.5%
- Sun Pharma –3%
- Tata Steel, Bajaj Finance among laggards
NBFCs underperformed due to rising funding risks, while banks saw relatively better resilience from deposit inflows.
Commodities & Currency
- Gold trades above ₹1,00,000; Silver above ₹15,000.
- Crude oil and natural gas firmed up.
- Indian Rupee weakened against the US Dollar, Euro, Pound, and Yen.
Corporate News
- HFCL secured a ₹100 crore order from the Indian Army.
- Newgen Software won a ₹73 crore digitization project.
- Oil India & BPCL to develop city gas distribution in Arunachal Pradesh.
- Power Grid bagged an inter-state transmission project in Karnataka.
- Adani Group plans to sell 5% stake in Ambuja Cement to reduce debt.
- Indigo co-founder Rakesh Gangwal to offload 1.7% stake worth over ₹7,000 crore.
- Shriram Lotus Developers posted 35.8% profit drop, revenue down 49.2%.
- Mangal Electricals IPO lists today.
Market Outlook
Analysts expect continued weakness as global cues remain mixed and key support levels have been breached. Unless positive triggers emerge, Indian markets may stay in profit-booking or consolidation mode.
