Ahead of Market: 10 things that will decide stock market action on Friday

The Indian market ended lower on Thursday, as banks and IT stocks bore the brunt of the selling, after the United States’ 25% additional tariffs on Indian imports took effect, rattling investor sentiment and setting the tone for the session.

The BSE Sensex declined 705.97 points, or 0.87%, to finish at 80,080.57, while the NSE Nifty slipped 211.15 points, or 0.85%, to settle at 24,500.90.

Here’s how analysts read the market pulse:

Domestic equities ended lower as pessimism took hold following the implementation of tariffs on Indian goods, dampening investor sentiments, said Vinod Nair, Head of Research at Geojit Investments, adding that investor mood remained fragile, with large caps declining and midcaps and smallcaps underperforming amid risk-off sentiment.

“Most sectors, including Auto, IT, FMCG, and Metals, traded in the red as investors turned to profit booking from recent gains, while Consumer Durables outperformed, likely supported by GST rationalisation and expectations of festive demand,” said Nair.

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US markets

Stocks on Wall Street were steady on Thursday, following new economic data and a mixed batch of earnings reports from big U.S. companies.Gains in technology and communication services companies tempered declines in health care and most other sectors. Broadcom rose 2.7%, Oracle was 1.7% higher and Google parent Alphabet rose 1.7%.Tech giant Nvidia was down 0.8% a day after reporting quarterly earnings and revenue that beat Wall Street analysts’ forecasts, though the company noted that sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated.

European markets

Europe’s STOXX 600 closed lower on Thursday, dragged down by healthcare stocks, while investors assessed earnings from Pernod Ricard and AI chip leader Nvidia.

The pan-European STOXX 600 ended 0.2% lower, reversing gains from earlier in the session. Regional bourses were mixed.

European semiconductor stocks were mixed as investors parsed Nvidia’s data center outlook, which fell short of some analysts’ expectations.

Tech View

Bears remained at the helm as the Nifty slipped below the 100-EMA on the daily chart, confirming a short-term bearish trend, said Rupak De, Senior Technical Analyst at LKP Securities.

The index broke down from its recent consolidation, signaling increasing weakness, said De, adding that “after a steep fall, a positive divergence is visible on the hourly chart, suggesting the possibility of a small bounce-back before further decline.”

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Most active stocks in terms of turnover

InterGlobe Aviation (Rs 10,801 crore), Ola Electric Mobility (Rs 4,243 crore), HDFC Bank (Rs 2,447 crore), Waaree Energies (Rs 2,401 crore), ICICI Bank (Rs 1,823 crore), RIL (Rs 1,817 crore) and Eternal (Rs 1,399 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.

Most active stocks in volume terms

Ola Electric Mobility (Traded shares: 77.94 crore), Vodafone Idea (Traded shares: 63.09 crore), RattanIndia Enterprises (Traded shares: 8.33 crore), YES Bank (Traded shares: 6.88 crore), Suzlon Energy (Traded shares: 5.77 crore), RBL Bank (Traded shares: 5.16 crore) and IRB Infra Developers (Traded shares: 4.99 crore) and were among the most actively traded stocks in volume terms on NSE.

Stocks showing buying interest

Shares of Vardhman Textiles, Ola Electric Mobility, Sundram Fasteners, JP Power, Waaree Energies, RattanIndia Enterprises and AstraZeneca were among the stocks that witnessed strong buying interest from market participants.

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52 Week high

Over 102 stocks hit their 52 week highs today while 141 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Maruti Suzuki and FSN E-Comm (Nykaa).

Stocks seeing selling pressure

Stocks which witnessed significant selling pressure were Adani Gas, Olectra Greentech, Aditya Birla Fashion & Retail, InterGlobe Aviation, Brainbees Solutions, Sai Life Science and Sundaram Finance.

Sentiment meter bearish

The market sentiments were bearish. Out of the 4,258 stocks that traded on the BSE on Thursday, 2,651 stocks witnessed declines, 1,458 saw advances, while 149 stocks remained unchanged.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)