The IT sector outperformed, driven by better-than-expected revenue growth and optimism about increased technology spending. Banking stocks also drew attention as early quarterly results showed improved asset quality and margins, boosting sentiment.
Global Market Overview
In the U.S., equities closed slightly lower ahead of the long holiday weekend. The Dow Jones slipped 83.11 points to 49,359.33, the S&P 500 edged down 4.46 points to 6,940.01, and the Nasdaq fell 14.63 points to 23,515.39. European markets ended subdued, impacted by losses in luxury and mining stocks.
Technical Analysis
The Nifty index formed a bearish gravestone doji candlestick, indicating consolidation between 25,550–25,600 support and 25,850–25,900 resistance. Analysts suggest trading within this range, with a sustained bullish trend possible only if Nifty surpasses its 50-day SMA.
Most Active Stocks
In value terms, HDFC Bank, Infosys, RIL, Vedanta, and ICICI Bank were highly traded. In volume terms, Vodafone Idea, IFCI, YES Bank, Suzlon Energy, and Federal Bank dominated activity. Federal Bank, Angel One, IndiaMART, Zen Technologies, and Infosys showed strong buying interest, while Eternal, Asian Paints, Sun Pharma, Maruti Suzuki, and ITC faced selling pressure.
52-Week Highs and Lows
Today, 84 stocks hit their 52-week highs, including SBI and Tata Steel, while 260 stocks recorded 52-week lows, reflecting mixed investor sentiment.
Market Sentiment
Of 4,394 stocks traded on BSE, 2,395 declined, 1,849 advanced, and 150 remained unchanged, indicating a cautious market outlook despite the IT-driven rally.