Indian stock markets ended Thursday's session on a mixed note, with Nifty50 closing 34.55 points lower at 24,196.75, slipping below the 24,200 mark despite opening with strong momentum. According to DSIJ, the index erased early gains of 160 points from the day's high to settle 0.14% lower. BSE Sensex also declined 122.56 points or 0.16% to close at 77,988.68, reversing earlier gains that had pushed it to 78,610.50 during intraday trading. The market witnessed significant volatility as the Nifty50 started the day with a gap-up opening of 160 points but declined nearly 200 points from the day's high by the close. As per ICICI Direct, selling pressure in the latter half wiped out intraday advances, with the markets tracking positive global cues in the first half before profit booking capped gains.
On the sectoral front, Nifty Metal emerged as the top-performing sector, advancing 1.53% with 13 out of its 15 constituents closing higher, extending gains for the second consecutive session. As per DSIJ, Nifty Financial Services Ex Bank was also among the top gainers. In contrast, Nifty Auto index declined 0.38% to make it the top losing sector, though it remains up 11% in April 2026. Private banks and auto stocks led the decline, with HDFC Bank (down 1.75%), Mahindra & Mahindra (down 0.99%) and Bharti Airtel (down 0.82%) dragging the indices lower. Broader markets outperformed benchmarks, with BSE 150 MidCap Index jumping 0.52% and BSE 250 SmallCap Index rising 0.99%. Market breadth remained positive with 2,808 shares rising and 1,539 shares falling on BSE, while NSE's India VIX slipped 3.12% to 18.09, indicating reduced volatility expectations.
Global markets provided supportive cues with crude oil prices holding firm near USD 95 per barrel, significantly lower than March highs of nearly USD 120. As reported by DSIJ, Brent crude fell to USD 94.49 per barrel while WTI dropped to USD 90.59 per barrel on hopes of easing geopolitical tensions. Brent crude for June 2026 settlement jumped $1.46 or 1.54% to $96.39 a barrel, according to ICICI Direct. Optimism surrounding easing geopolitical tensions between the U.S. and Iran lent support to sentiment, with US President Donald Trump stating that the Iran conflict was "very close to over" and Tehran was keen to reach a deal. Precious metals remained firm with gold futures trading 0.36% higher and silver futures up 0.92%, while the U.S. dollar remained near its lowest level since early March with the dollar index at 98.05.
On the institutional front, Foreign Institutional Investors (FIIs) were net buyers, purchasing equities worth ₹666.15 crore on Thursday, as reported by DSIJ. In contrast, Domestic Institutional Investors (DII) sold shares worth ₹568.98 crore. This divergence in institutional flows highlights the current market dynamics between foreign and domestic investor sentiment. GIFT Nifty hovered around 24,308, up 58 points from the previous close, indicating positive opening expectations for Friday's session. The yield on India's 10-year benchmark federal paper rose 0.25% to 6.882 compared with the previous session close of 6.865, while the rupee edged higher against the dollar, hovering at 93.2000 compared with its close of 93.3375 during the previous trading session.
From a technical perspective, the Put-Call Ratio (PCR) stands at 1.12 with significant open interest on the Put side concentrated at 24,200, indicating strong support, while the Call side shows heavy open interest at 24,500, marking a key resistance level. According to DSIJ, the undertone for Nifty 50 remains positive as long as it holds above the 24,075–24,050 zone. Immediate resistance is seen at 24,415, and a sustained move above this level could push the index towards 24,753. Market analysts continue to navigate mixed global signals and persistent geopolitical uncertainties, with the resilience of the mother market, US, and positive news relating to potential truce developments providing some support. Volatility remained elevated due to the weekly expiry of Sensex derivatives and the ongoing Q4 earnings season, with investors closely monitoring signs of de-escalation between the United States and Iran.
