Indian benchmark indices began Friday’s session on a subdued note, with losses led by the IT sector in early trade.
By 09:26 AM, the Sensex had declined 241 points, or 0.29 per cent, to 82,772, while the Nifty fell 63 points, or 0.25 per cent, to 25,360.
The US Federal Reserve resumed its cycle of interest rate cuts, lowering rates by 25 basis points.
However, investors’ hopes for more aggressive easing in the coming months were not fully met, leaving markets awaiting further clarity on the US policy trajectory, analysts noted.
Meanwhile, the Nifty Midcap 100 inched up 0.16 per cent, whereas the Nifty Smallcap 100 saw a marginal drop of 0.04 per cent.
Among Nifty constituents, Hero MotoCorp, Shriram Finance, Maruti Suzuki, NTPC and Tech Mahindra recorded gains, while ICICI Bank, Bajaj Finance, Tata Consumer Products and Titan Company underperformed.
Sector Performance Highlights
Sector-wise, Nifty IT was the biggest laggard, slipping 0.40 per cent. Nifty FMCG and Nifty Private Bank indices also exerted downward pressure.
Only the Nifty Realty and PSU Bank indices managed modest gains, with the rest trading in negative territory or flat.
The previous session had seen the Nifty50 hold above the 25,400 mark, reflecting investor confidence and sustaining positive momentum.
Analysts observed that while buying interest remains at lower levels, the 25,500–25,600 range continues to act as a significant resistance.
On the downside, support is likely between 25,300 and 25,100 for minor corrections.
Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, stated, “The Market is on an uptrend and is well-positioned to set new records soon. Fundamentals, technicals and sentiments are favourable for a steady uptrend. Earnings are likely to improve from Q3 onwards. Technically, short covering is happening and can accelerate.”
From a broader perspective, a potential US-India trade agreement with reduced reciprocal tariffs and no penal levies may bolster sentiment, he added.
In the US, major indices advanced overnight, with the Nasdaq up 0.94 per cent, the S&P 500 rising 0.48 per cent, and the Dow gaining 0.27 per cent.
Asian markets mostly traded in positive territory during the morning session.
China’s Shanghai Composite dipped 0.12 per cent, while the Shenzhen index gained 0.23 per cent.
Japan’s Nikkei rose 0.77 per cent, Hong Kong’s Hang Seng inched up 0.12 per cent, and South Korea’s Kospi fell 0.46 per cent.
On Thursday, foreign institutional investors (FIIs) bought equities worth Rs 366 crore, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,326 crore.
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