Global: Indian equity markets continued to show weakness during Thursday’s trading session, extending the decline seen in previous sessions. Both benchmark indices opened on a cautious note and remained under pressure through the first half of the day. Investors appeared hesitant to take fresh positions as a mix of domestic valuation concerns and unresolved global trade developments weighed on sentiment. While selective stocks showed resilience, broader market momentum stayed subdued.
By midday, the Nifty50 was trading near the 25,935 mark, reflecting a decline of more than 200 points. The BSE Sensex also slipped sharply, hovering around 84,373 after losing close to 600 points. These levels indicate sustained selling pressure at higher valuations, particularly in heavyweight stocks that had previously driven the rally.
Market participants noted that the indices struggled to find strong buying support, even though intraday volatility remained relatively contained. The movement suggested a consolidation phase rather than panic-driven selling, with traders closely watching technical support zones.
Analysts broadly expect Indian equities to remain range-bound in the near term. After a strong run-up in recent months, profit booking has become more visible, especially among large-cap stocks. Investors are choosing to lock in gains rather than chase higher levels, given the lack of immediate positive triggers.
Another factor shaping sentiment is the ongoing third-quarter business updates. While some companies have delivered stable or improving operational numbers, others have offered cautious outlooks. This divergence has resulted in stock-specific action instead of a broad-based rally, keeping benchmark indices under pressure.
Sector-wise, metal, energy, and information technology stocks witnessed noticeable selling pressure. Metal stocks declined on concerns around global demand and commodity price fluctuations. Energy stocks also moved lower amid uncertainty over crude oil trends and global policy signals.
On the other hand, select banking, insurance, and consumer stocks managed to post modest gains. These movements highlighted a defensive tilt in the market, where investors preferred relatively stable and fundamentally strong businesses over cyclical or globally sensitive sectors.
Within the Nifty50 universe, a handful of stocks traded in positive territory. Companies such as BEL, SBI Life, ICICI Bank, Bajaj Auto, and HUL recorded marginal gains, supported by steady business outlooks and investor confidence in their long-term fundamentals.
However, losses were more pronounced among several large constituents. Stocks like Hindalco, ONGC, Adani Enterprises, JSW Steel, TCS, Wipro, and Tech Mahindra declined significantly. The weakness in IT stocks was attributed to concerns over global demand, currency movements, and cautious guidance from technology majors.
A similar pattern was visible in the BSE Sensex, where gainers were limited and advances remained shallow. A few stocks such as ICICI Bank, HUL, and HCL Tech managed to stay in the green, but they were not enough to offset broader losses.
Major drags on the Sensex included TCS, Tech Mahindra, Tata Steel, IndusInd Bank, Bajaj Finserv, Reliance Industries, NTPC, and Power Grid. The decline in these heavyweight stocks played a key role in pulling the index lower, reinforcing the cautious market tone.
According to VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, the broader economic fundamentals remain encouraging despite short-term market weakness. He pointed out that advanced estimates project India’s FY26 GDP growth at a strong 7.4 percent, reflecting the resilience of the domestic economy even amid external challenges such as tariff-related uncertainties.
However, he also noted that strong economic data may not immediately translate into market gains. The absence of progress on a crucial US-India trade agreement and continued foreign institutional investor selling are acting as headwinds for equities.
Global developments continue to play a significant role in shaping investor behavior. Expectations around a verdict from the US Supreme Court regarding reciprocal tariffs could influence market momentum, especially if it goes against Donald Trump. Any shift in global trade dynamics may alter risk appetite and capital flows into emerging markets like India.
For long-term investors, experts emphasize the importance of patience and psychological discipline. Markets can remain directionless for extended periods, often testing investor confidence. Those who maintain a balanced approach and focus on fundamentals are more likely to navigate such phases successfully.
In summary, Indian equity markets are currently experiencing a phase of consolidation driven by profit booking, mixed corporate updates, and global uncertainties. While economic fundamentals remain strong, near-term market movement is expected to stay cautious and range-bound. Stock-specific opportunities continue to emerge, but broad-based rallies may require clearer global signals and renewed institutional participation.
