10 things that will decide D-Street action on Friday

The Indian market ended lower on Thursday after the U.S. imposed 26% reciprocal tariffs, though losses were tempered by a surge in pharma stocks exempted from the duties and a relatively lower tariff rate compared to other Asian peers.

The benchmark BSE Sensex declined 322.08 points or 0.42% to close at 76,295.36, while the broader Nifty 50 index closed at 23,250.10, lower by 82.25 points or 0.35%.

Here's how analysts read the market pulse:

The domestic market initially showed signs of recovery but ended with modest losses after the announcement of a relatively lower 26% tariff on U.S. imports, said Vinod Nair, Head of Research at Geojit Investments, adding that the IT and auto sectors experienced selling pressure due to US slowdown concerns and disruptions in the supply chain.

“Conversely, pharmaceutical stocks benefited from being exempt from the tariffs. Nonetheless, robust domestic macroeconomic data and lower crude oil prices aided the broader market performance. Although the tariff presents short-term challenges, India's economic resilience and bilateral trade agreement may help mitigate the overall impact," said Nair.

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US markets
Heavyweight technology stocks led a broad selloff on Wall Street on Thursday after President Donald Trump's sweeping tariffs on major trade partners ignited fears of an all-out trade war and raised the risk of a global economic recession.

Investors fled from risky assets, seeking the safety of government bonds after Trump slapped a 10% tariff on most goods imported into the United States and much higher levies on dozens of other countries.

The tariffs, poised to disrupt the global trade order and unsettle businesses, highlight a stark shift from just a few months ago when the promise of business-friendly policies under the Trump administration propelled U.S. stocks to record highs.

High-flying technology stocks, that have pushed Wall Street to record highs in recent years, suffered big declines on Thursday.

European stocks

European shares tumbled on Thursday, notching their biggest daily loss in eight months, on fears an escalating trade war would slam the brakes on economic growth in the wake of hefty tariffs announced by U.S. President Donald Trump.

The pan-European STOXX 600 sank 2.7%, falling back to its lowest since January. German, Italian and French benchmarks closed over 3% lower, with Italian and French stocks seeing their worst fall in over two years.

A gauge of euro zone stock market volatility spiked to an eight-month high of 25.54.

Tech View
The Nifty opened lower following weak global cues but recovered immediately with sentiment remaining strong as the Indian market showed resilience despite weak global equity trends led by Trump's tariffs said Rupak De, Senior Technical Analyst at LKP Securities, adding that “short-term support is placed at 23,100, and as long as the Nifty stays above this level, the trend is likely to remain strong. On the higher end, it may move towards 23,430, and a decisive move above this level could trigger a stronger rally."

“The market is currently experiencing non-directional activity. On the downside, it is consistently finding support near 23150/75800, while profit booking is occurring near the 23350/77000 zone. For short-term traders, 23350/77000 is now the key level to watch. If the index moves above this level, the bounce back could continue up to 23500-23600/77500-77800. Conversely, if it falls below 23150/75800, selling pressure could intensify, potentially leading the market to retest levels around 23000-22950/75500-75300,” said Shrikant Chouhan, Head Equity Research at Kotak Securities.

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Most active stocks in terms of turnover
BSE (Rs 2,546 crore), Tejas Networks (Rs 2,440 crore), Infosys (Rs 1,569 crore), TCS (Rs 1,553 crore), Mazagon Dock Shipbuilders (Rs 1,256 crore), Persistent Systems (Rs 1,252 crore) and Bajaj Finance (Rs 1,201 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: 48.60 crore), IDFC First Bank (Traded shares: 17.22 crore), Trident Ltd (Traded shares: 9.90 crore), YES Bank (Traded shares: 9.43 crore), Reliance Power (Traded shares: 5.73 crore), Zomato (Traded shares: 4.44 crore) and JP Power (Traded shares: 4.39 crore) were among the most actively traded stocks in volume terms on NSE.

Stocks showing buying interest
Shares of Vardhman Textiles, Tejas Networks, Trident, Jubilant Life, Raymond, Ipca Labs and IDFC First Bank were among the stocks that witnessed strong buying interest from market participants.

52 Week high
Over 72 stocks hit their 52 week highs today while 52 stocks slipped to their 52-week lows.

Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Persistent Systems, Coforge, KPIT Technologies, Dabur India, KEC International, Timken India and Zensar Technologies.

Sentiment meter bullish
The market sentiments were bullish. Out of the 4,123 stocks that traded on the BSE on Thursday, 1,169 stocks witnessed declines, 2,813 saw advances, while 141 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)