desk
Share
News Topical, Digital Desk : Indian stock markets are showing signs of a weak start on Friday. The Nifty fell 55 points, or 0.22%, to trade around 25,461, indicating a negative opening on Dalal Street. Domestic markets closed on a mixed note on Thursday, with pre-budget expectations and optimism about the India-European Union Free Trade Agreement (FTA) providing some support to the market.
Mixed signals from global markets
US markets closed lower on Thursday. The Dow Jones Industrial Average rose 0.11%, while the S&P 500 fell 0.13% and the Nasdaq fell 0.72%. Investors are concerned about the heavy spending on artificial intelligence by big tech companies and are wondering what the returns will be.
Asian markets were also mixed. Japan's Topix rose 0.6%, Australia's ASX 200 gained 0.3%, while Hang Seng futures slipped 0.8%. Euro Stoxx 50 futures gained 0.9%. The dollar is heading for its second weekly decline as global tensions escalate due to threats of tariffs on countries trading with Cuba.
Range-bound trading likely in domestic market
Analysts believe the market may remain range-bound ahead of the budget, with stock-specific activity dominating. The Nifty is currently hovering around the 200-degree range, reflecting investor uncertainty. According to Ajit Mishra of Reliance Broking, after holding above the 25,350 level, the Nifty could gradually move towards 25,600, with strength in banking stocks playing a key role.
These stocks will be under watch today
Several major stocks will be in focus in today's trading. NTPC, Meesho, Bajaj Auto, Nestle, Power Grid, Bank of Baroda, Ambuja Cements, and Tata Investments will announce their third-quarter results, which could cause volatility in these stocks.
Additionally, Paytm reported a consolidated net profit of ₹225 crore in the third quarter, a significant improvement from a loss of ₹208 crore in the same period last year. The company's profit jumped 971% quarterly, which could boost investor confidence
--Advertisement--
