The BSE Sensex fell 780.18 points, or 0.92%, to close at 84,180.96, while the NSE Nifty 50 declined 263.90 points, or 1%, to end the session at 25,876.85.
Here’s how analysts read the market pulse:
Domestic markets extended losses as sentiment turned cautious amid renewed concerns over US tariffs and persistent FII outflows, overshadowing optimism around earnings growth, said Vinod Nair, Head of Research at Geojit Investments, adding that broad-based selling was led by metals, oil & gas, and IT stocks.
“Metal shares declined on profit booking following a retreat in global prices, while oil & gas stocks fell on worries over the Venezuela–US crisis. Meanwhile, India’s first advance FY26 GDP estimate signals robust growth, driven by a manufacturing rebound and resilient services, offering some optimism despite external headwinds. In the near term, markets are expected to remain cautious and trade range-bound, influenced by Q3 earnings and developments on US tariffs,” said Nair.
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US markets
Wall Street stocks dipped early Thursday as markets awaited key US employment data and the start of fourth-quarter corporate earnings season.
Earnings season is due to kick off next week with results from Delta Air Lines and large US banks, including JPMorgan Chase and Goldman Sachs.
Analysts have projected seven percent earnings growth for the period, according to CFRA Research’s Sam Stovall.
European Markets
European defence stocks jumped to a record high and oil prices and the dollar both made ground on Thursday, as geopolitical developments from Venezuela to Greenland kept traders guessing.
The seizure of two Venezuela-linked oil tankers in the Atlantic came alongside news U.S. Secretary of State Marco Rubio will meet Denmark’s leaders to discuss Greenland next week, with some mixed economic data thrown in too.
Europe’s record high STOXX aerospace and defence stocks index was up 1% in a fifth day of gains. The index has already surged 13% this year and more than 260% since Russia’s 2022 invasion of Ukraine.
Tech View
The Nifty has slipped below its rising trendline, clearly indicating a sudden increase in bearish bets, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the index has moved below 26,000, which had been acting as a psychological support.
“More importantly, the Nifty has closed below the 50 EMA for the first time in three months, signifying a bearish shift in the trend. A rising India VIX is also pointing to increased panic among market participants. Overall, the setup looks uncomfortable for the bulls. Selling pressure is likely to persist in the near term unless the Nifty moves back above 26,000. On the downside, the index might fall down towards 25,700 and 25,550,” said De.
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Most active stocks in terms of turnover
RIL (Rs 2,441 crore), Hindustan Copper (Rs 2,188 crore), ICICI Bank (Rs 2,134 crore), HDFC Bank (Rs 2,078 crore), BEHL (Rs 1,361 crore), TCS (Rs 1,336 crore) and ITC (Rs 1,252 crore) were among the most active stocks on BSE 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: 83.66 crore), YES Bank (Traded shares: 13.7 crore), Trident Ltd (Traded shares: 9.97 crore), Ola Electric Mobility (Traded shares: 8.55 crore), IDFC First Bank (Traded shares: 6.27 crore), Suzlon Energy (Traded shares: 5.93 crore) and NMDC (Traded shares: 5 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Alkyl Amines, India Cements, Niva Bupa Health Insurance Company, Trident Ltd, Sobha, IDFC First Bank and Ipca Laboratories were among the stocks that witnessed strong buying interest from market participants.
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52 Week high
Over 113 stocks hit their 52-week highs today while 189 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Eicher Motors and Bajaj Auto.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were BHEL, Signatureglobal (India), Transformers & Rectifiers, Schneider, NMDC Steel, Gujarat Mineral Development Corporation and Hindustan Zinc.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,366 stocks that traded on the BSE on Thursday, 3,157 stocks witnessed declines, 1,039 saw advances, while 170 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 the Economic Times)