The Indian market closed lower on Wednesday, as a pullback in financial stocks from near-record highs outweighed optimism fueled by U.S. President Donald Trump's remarks hinting at a potential trade deal between the U.S. and India.
The BSE Sensex declined 287.60 points, or 0.34%, to close at 83,409.69, while the NSE Nifty shed 88.40 points, or 0.35%, to settle at 25,453.40.
Here's how analysts read the market pulse:
Mixed global cues, particularly ahead of the impending tariff deadline, are driving investor caution, said Vinod Nair, Head of Research, Geojit Investments, adding that market attention is gradually shifting to crucial Q1 earnings, which have high expectations.
"Underlying trends such as robust macroeconomic fundamentals and increased government expenditure continue to support market resilience. However, being at the breach level of the recent rally, a cautiousness is expected to continue in the near term," said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
European markets
European shares closed higher on Wednesday, supported by a rally in renewable-energy stocks after a key U.S. budget bill cleared a crucial vote. Investors also remained focused on possible trade deals ahead of President Donald Trump’s July 9 tariff deadline. The STOXX 600 rose 0.2%, with French equities leading the charge, up 1%.
US markets
U.S. stocks rebounded from early losses on Wednesday, driven by gains in Nvidia, Apple, and Tesla, as investors awaited the non-farm payrolls report for signals on potential Fed rate cuts. By 11:58 a.m. ET, the Dow was flat, while the S&P 500 rose 0.27% and the Nasdaq climbed 0.75%.
Tech View
After rallying nearly 5% in recent weeks, the Nifty has witnessed a mild pullback over the past few sessions, bringing it closer to the 38.20% retracement of the prior upmove, around the 25,300 mark, said Rupak De, Senior Technical Analyst at LKP Securities, adding that on the hourly chart, the index has found initial support near the 50-hour moving average.
“On the upside, immediate resistance is placed at 25,500. A sustained move above this level could pave the way for a short-term recovery, potentially pushing the index towards 25,600 or higher. Conversely, a decisive break below 25,300 may open the door for a sharper correction," said De.
Also read | Warren Buffett’s biggest investment isn’t Apple, BofA or Coca-Cola — it’s a stock hidden in plain sight
Most active stocks in terms of turnover
ICICI Bank (Rs 1,913 crore), HDFC Bank (Rs 1,879 crore), Infosys (Rs 1,404 crore), Dixon Technologies (Rs 1,348 crore), Bharti Airtel (Rs 1,324 crore), TCS (Rs 1,065 crore) and Tata Steel (Rs 1,039 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 the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 71.37 crore), Sagility India (Traded shares: 16.32 crore), JP Power (Traded shares: 8.41 crore), Suzlon Energy (Traded shares: 7.29 crore), Tata Steel (Traded shares: 6.33 crore), YES Bank (Traded shares: 5.73 crore) and Ola Electric Mobility (Traded shares: 3.78 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Sagility India, Rites, Tata Communications, Aditya Birla Fashion & Retail, Kajaria Ceramics, Mankind Pharma and Apollo Tyres were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 145 stocks hit their 52 week highs today while 51 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included UltraTech Cement and Bharti Airtel.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Narayana Hrudayalaya, Redington, Hyundai Motor India, Kirloskar Brothers, Godrej Industries, RBL Bank and City Union Bank.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,171 stocks that traded on the BSE on Wednesday, 2,205 stocks witnessed declines, 1,809 saw advances, while 157 stocks remained unchanged.
Also read | Can crude oil prices really double? Let’s look at the worst-case scenario
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The BSE Sensex declined 287.60 points, or 0.34%, to close at 83,409.69, while the NSE Nifty shed 88.40 points, or 0.35%, to settle at 25,453.40.
Here's how analysts read the market pulse:
Mixed global cues, particularly ahead of the impending tariff deadline, are driving investor caution, said Vinod Nair, Head of Research, Geojit Investments, adding that market attention is gradually shifting to crucial Q1 earnings, which have high expectations.
"Underlying trends such as robust macroeconomic fundamentals and increased government expenditure continue to support market resilience. However, being at the breach level of the recent rally, a cautiousness is expected to continue in the near term," said Nair.
Also read | 5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!
European markets
European shares closed higher on Wednesday, supported by a rally in renewable-energy stocks after a key U.S. budget bill cleared a crucial vote. Investors also remained focused on possible trade deals ahead of President Donald Trump’s July 9 tariff deadline. The STOXX 600 rose 0.2%, with French equities leading the charge, up 1%.
US markets
U.S. stocks rebounded from early losses on Wednesday, driven by gains in Nvidia, Apple, and Tesla, as investors awaited the non-farm payrolls report for signals on potential Fed rate cuts. By 11:58 a.m. ET, the Dow was flat, while the S&P 500 rose 0.27% and the Nasdaq climbed 0.75%.
Tech View
After rallying nearly 5% in recent weeks, the Nifty has witnessed a mild pullback over the past few sessions, bringing it closer to the 38.20% retracement of the prior upmove, around the 25,300 mark, said Rupak De, Senior Technical Analyst at LKP Securities, adding that on the hourly chart, the index has found initial support near the 50-hour moving average.
“On the upside, immediate resistance is placed at 25,500. A sustained move above this level could pave the way for a short-term recovery, potentially pushing the index towards 25,600 or higher. Conversely, a decisive break below 25,300 may open the door for a sharper correction," said De.
Also read | Warren Buffett’s biggest investment isn’t Apple, BofA or Coca-Cola — it’s a stock hidden in plain sight
Most active stocks in terms of turnover
ICICI Bank (Rs 1,913 crore), HDFC Bank (Rs 1,879 crore), Infosys (Rs 1,404 crore), Dixon Technologies (Rs 1,348 crore), Bharti Airtel (Rs 1,324 crore), TCS (Rs 1,065 crore) and Tata Steel (Rs 1,039 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 the highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 71.37 crore), Sagility India (Traded shares: 16.32 crore), JP Power (Traded shares: 8.41 crore), Suzlon Energy (Traded shares: 7.29 crore), Tata Steel (Traded shares: 6.33 crore), YES Bank (Traded shares: 5.73 crore) and Ola Electric Mobility (Traded shares: 3.78 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Sagility India, Rites, Tata Communications, Aditya Birla Fashion & Retail, Kajaria Ceramics, Mankind Pharma and Apollo Tyres were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 145 stocks hit their 52 week highs today while 51 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included UltraTech Cement and Bharti Airtel.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Narayana Hrudayalaya, Redington, Hyundai Motor India, Kirloskar Brothers, Godrej Industries, RBL Bank and City Union Bank.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,171 stocks that traded on the BSE on Wednesday, 2,205 stocks witnessed declines, 1,809 saw advances, while 157 stocks remained unchanged.
Also read | Can crude oil prices really double? Let’s look at the worst-case scenario
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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