Markets Close Lower Amid Weak Global Cues

Indian equity markets ended Thursday’s session on a weak note, as selling pressure weighed heavily on investor sentiment. The decline can be attributed to cautious expectations ahead of the upcoming December-quarter earnings season and a general unease regarding U.S. interest rate cuts. The BSE Sensex fell by 467.22 points, or 0.6 percent, settling at 77,681.27, while the NSE Nifty50 dropped 133.25 points, or 0.56 percent, to close at 23,555.70.

Sector Trends and Key Performers

Selling pressure was widespread, with most sectors posting losses. All major indices ended in the red, with the exceptions being FMCG, IT, and media sectors. Notably, the realty, banking, and energy sectors faced significant declines. Key stocks including NTPC, TCS, Adani Ports, HDFC Bank, Tata Steel, and Tata Motors were among the biggest laggards on the Sensex, each losing up to 1.5 percent.

On a more positive note, some companies managed to stand out amidst the market downturn. M&M, Asian Paints, Kotak Mahindra Bank, and Bharti Airtel saw gains in an otherwise dull trading session.

Stock-Specific Developments

Manappuram Finance attracted attention after the Reserve Bank of India lifted restrictions on its subsidiary, Asirvad Micro Finance, which sparked optimism about its business recovery. Advait Energy Transitions also gained traction following news of a Letter of Intent for a 50 MW battery energy storage project in Gujarat, signaling growth prospects in the renewable energy sector.

Shares of Reliance Industries remained steady, as Morgan Stanley reaffirmed its “Overweight” rating with a target price of Rs 1,662, highlighting the company’s promising growth potential. In another interesting development, Prataap Snacks saw increased trading activity after Mahi Madhusudan Kela and Authum Investment proposed to acquire a 26 percent stake at Rs 865.66 per share, attracting investor interest.

Earnings Season on the Horizon

Looking ahead, Tata Consultancy Services (TCS) is garnering attention as it prepares to release its Q3 earnings. Analysts are forecasting moderate revenue growth due to challenges in global demand; however, they remain optimistic about robust order inflows that could shape market sentiment in the near future.

Market Outlook and Recommendations

Given the current market conditions, analysts are advising investors to approach the unfolding earnings season with caution. The Nifty index is thought to face immediate support at the 23,500 level, with the potential for resistance around 23,700. Sector-specific opportunities, particularly within IT and renewable energy, may present attractive trading options despite ongoing global and domestic uncertainties.

Markets, Stocks, Earnings