CHENNAI: Indian equity markets closed Thursday’s session on a muted note despite positive global sentiment following a US federal court’s decision to block former President Trump’s proposed “Liberation Day” tariffs. The ruling improved global risk appetite, lifting equity benchmarks across regions, strengthening the US dollar, and putting downward pressure on gold prices.
The BSE Sensex ended the day marginally higher, gaining 35 points to close at 81,348, while the NSE Nifty 50 advanced 10 points to settle at 24,763. Intraday trading remained largely range-bound, with both benchmarks struggling to maintain upward momentum amid a lack of domestic triggers.
Broader markets mirrored the subdued tone, with the Nifty Midcap 100 and Nifty Smallcap 100 closing flat to slightly positive. Sectorally, mixed trends were observed: IT and FMCG stocks saw mild gains, while banking and metal counters remained under pressure.
Investor sentiment was cautiously optimistic as the Department of Telecommunications (DoT) reached out to the telecom regulator (TRAI) for its views on spectrum pricing, allotment, and auction modalities. The move raised expectations of potential changes in telecom policy that could impact the next round of spectrum sales.
On the global front, Asian markets closed mostly higher, led by gains in Nikkei 225 and Hang Seng, while European indices opened firm. U.S. equity futures indicated a positive start, buoyed by easing trade war concerns and improving market sentiment.
In the currency market, the Indian rupee held steady against the U.S. dollar, while in commodities, gold prices declined as the dollar strengthened. Crude oil prices edged higher on expectations of summer demand.
Top Nifty gainers on Thursday included Infosys (+1.2%), Hindustan Unilever (+0.9%), Larsen & Toubro (+0.8%), while losers were Axis Bank (–1.1%), Tata Steel (–0.9%), and JSW Steel (–0.7%).
Market participants now await India’s GDP data due later this week, along with US PCE inflation data, for further direction.