Stock Market Today: The weakness in the market continues as the benchmark Nifty-50 index at 25,062.10 ended 0.63% lower on Thursday. The Bank Nifty at 57,066.05 was also down 0.25%, while the IT and Realty Index were key losers, and only a few, such as Pharma and Healthcare, stood among the gainers. The mid and small caps also ended 0.58-1.09% lower.
Trade Setup for Friday
For the short term, immediate support for the Nifty is seen at 24,882. On the upside, unless 25255 is taken out decisively, traders should take a cautious stance, said Nandish Shah – Deputy Vice President, HDFC Securities.
For Bank Nifty, immediate support is seen in the 56,000–55,700 zone, as per Bajaj Broking.
Global markets today and Q1 Results
In summary, Thursday’s session painted a cautionary picture, and strong domestic earnings from banks couldn’t offset widespread disappointment in IT and continued global trade concerns. With earnings and geopolitics in focus, investors will be watching for clarity on trade deals and recovery cues from tech fundamentals,” said Vikram Kasat, Head – Advisory, PL Capital.
