The market's performance reflected a cautious sentiment, with 18 of the Nifty 50 stocks advancing while 30 declined. Among the top gainers were BPCL, ICICI Bank, Bharti Airtel, Britannia, and Asian Paints, while HDFC Life, Wipro, Bajaj Auto, Bajaj Finance, and Hindalco were the biggest loser
Among the Nifty 50 stocks, Wipro, Tech Mahindra, HDFC Life Insurance, L&T, and HDFC Bank led the rally, emerging as the top gainers for the day. On the flip side, ONGC, Maruti Suzuki, Tata Steel, Bajaj Finance, and UltraTech Cement saw declines, limiting the market's overall gains.
As the earnings season begins and companies start reporting their financial results, the Nifty 50 index is projected to deliver a revenue growth of 4.5 per cent for the second quarter of the fiscal year 2025 (FY25), according to a report by Axis Securities.
Selling pressure mounted on the Indian stock markets on Thursday after the SEBI regulation on F&O, and with another main reason being the continued foreign outflows from Indian markets to other Asian markets.
Indian stock market indices Nifty and Sensex opened flat on Tuesday as the markets entered a consolidation phase after foreign investors turned towards other Asian markets like China and Hong Kong.
Indian stock markets opened flat on Wednesday as the monthly and quarterly expiry date approaches, though experts noted that the markets are still in bull mode.
Indian markets are in cautious mode as the Fed rate cut announcement will be made tonight, with both stock indices, Nifty and Sensex, opening flat on Wednesday with a marginal dip.