The benchmark BSE Sensex gained 226.85 points or 0.30% to close at 76,759.81, while the broader Nifty 50 index closed at 23,249.50, higher by 86.40 points or 0.37%.
Here’s how analysts read the market pulse:
The Indian market concluded on a positive note despite fluctuating between gains and losses, said Vinod Nair, Head of Research at Geojit Financial Services, adding that the fall in oil prices due to a rise in U.S. inventories and an ease in U.S. 10-year yield after the U.S. Fed’s hawkish view may decelerate FIIs outflow.
“The upcoming budget may be seen as an inflection point, which is likely to reverse the current bearish trend if the policies restore growth and consumption. As the long-term story is intact, investors are focusing on stocks and sectors where operational metrics and valuations are favourable,” Nair added.
US markets
Wall Street’s main indexes rose on Thursday, driven by post-earnings advances in Meta and Tesla, although Microsoft’s weak cloud forecast and downbeat results from Cigna dampened investor enthusiasm.
Microsoft dropped 4.7% after forecasting disappointing growth in its cloud computing business. Meta Platforms rose 4.5% after beating estimates for fourth-quarter revenue, but forecast that first-quarter sales might miss estimates.Tesla gained 0.5% after saying it was on track to roll out new, cheaper EV models in the first half of 2025. It also said it would start testing a paid autonomous car service in June, overshadowing quarterly results that fell short of expectations.
Tech View
The Nifty remained volatile within a defined range on expiry day, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the daily RSI is in a bullish crossover, signifying strong momentum.
“However, the index is facing resistance near the upper boundary of the falling wedge as well as the 21EMA on the daily timeframe, suggesting a possible retracement in the near term,” De added .
Support is seen at 23,200, and a break below this level could trigger a decline towards 23,000, De said, adding that “on the other hand, a decisive move above 23,300 might push the index towards 23,500.”
Also read | Time to buy the dip? Stock market indicates oversold level
Most active stocks in terms of turnover
Bajaj Finance (Rs 4,532.85 crore), Tata Motors (Rs 4,148.53 crore), HDFC Bank (Rs 2,169.94 crore), Adani Ports SEZ (Rs 1,513.57 crore), Voltas (Rs 1,492.60 crore), ICICI Bank (Rs 1,490.43 crore) and Jupiter Wagons (Rs 1,386.45 crore) were among the most active stocks on NSE 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
Vodafone Idea (Traded shares: 25.50 crore), YES Bank (Traded shares: 10.33 crore), Tata Motors (Traded shares: 5.93 crore), IDFC First Bank (Traded shares: 5.25 crore), Bharat Electronics (Traded shares: 4.67 crore), Zomato (Traded shares: 4.47 crore) and IRFC (Traded shares: 4.01 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Hitachi Energy India, Archean Chemical Industries, Laurus Labs, JBM Auto, Olectra Greentech, Netweb Technologies India and SRF Ltd were among the stocks that witnessed strong buying interest from market participants.
52 Week high
Over 61 stocks hit their 52 week highs today while 100 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included SRF Ltd, Bajaj Finance and Zensar Technologies.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Whirlpool India, Voltas, Deepak Fertilisers & Petrochemicals, CAMS, Tata Motors, Vedant Fashions and ABB India.
Sentiment meter neutral
The market sentiments were neutral. Out of the 4,074 stocks that traded on the BSE on Thursday, 1,812 stocks witnessed declines, 2,138 saw advances, while 124 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 Economic Times)
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