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• The benchmark Nifty ended on a marginally lower, supported by renewed buying in select blue-chip stocks and banks from levels. Broader market sentiment remained weak. The Nifty 500 advance-decline ratio stood at 1:3, reflecting widespread profit booking in mid- and small-cap stocks. Persistent FII outflows, escalating geopolitical tensions between the U.S. and Iran, a 3% surge in crude oil prices to around $93 per barrel, and concerns that the U.S. Federal Reserve may adopt a tighter monetary policy stance weighed on broader market sentiment. Investors largely rotated from large-cap counters into mid- and small-cap stocks, while maintaining a cautious stance amid ongoing geopolitical tensions in the Gulf region.

• Nifty declined by 53 points or 0.2% to close at 23161. Infosys, HCL Tech, Hindalco, Hindustan Unilever and Bajaj Finance were major losers while ICICI Bank, Mahindra & Mahindra, Kotak Mahindra Bank, Grasim Industries, and Reliance Industries were major gainers today while .

• Global cues were also subdued, with both Asian and European markets witnessed mixed performance as rising crude oil prices and continued Middle East tensions dampened investor confidence. Sectorally, the Nifty Realty, Oil & Gas, and IT indices were among the biggest laggards, declining by up to 2%. In contrast, private banking and pharmaceutical stocks managed to end the session with modest gains.

Technical Outlook:

• Nifty index opened gap down by around 110 points but picked up strength right from the opening tick and inched above 23300 marks. However the second half witnessed profit booking and the index gave up its intraday gains. It formed a inverted hammer sort of a candle on the daily frame with longer upper shadow indicating follow up is missing at higher zones. Now it has to cross and hold above 23200 for an up move towards 23450 then 23600 zones while support can be seen at 23100 then 23000 zones.

• S&P BSE Sensex index opened with a gap down by around 370 points and witnessed buying interest in the first half of the session. It respected support of 73500 zones and pushed the index towards 74300 marks. However momentum again fizzled out in the latter part of the day as profit booking trimmed intraday recovery. It formed a small bodied candle with a longer upper shadow. Index has been facing resistance near its 10 EMA over the last few sessions and requires a close above the same to witness fresh buying momentum. Now it has to cross and hold above 74000 zones for an up move towards 74300 then 74700 zones while supports are seen at 73500 then 73200 zones.

Derivative Outlook:

• Nifty future closed negative with losses of 0.05% at 23227 levels. Positive setup seen in Idea, Hyundai, Torrent Pharma, ICICI Bank, Kotak Bank, RBL Bank, Grasim, Zydus Life and JSW Steel while weakness seen in Paytm, PFC, Amber, Bandhan Bank, LTM, UPL, Infosys, Jubilant Food, MFSL and CAMS.

• On option front, Maximum Call OI is at 24000 then 23200 strike while Maximum Put OI is at 23000 then 23200 strike. Call writing is seen at 23200 then 23600 strike while Put writing is seen at 23100 then 23000 strike. Option data suggests a broader trading range in between 22800 to 23600 zones while an immediate range between 23000 to 23400 levels.

• TCS Partners with Anthropic on Enterprise AI – Company has forged a global strategic partnership with Anthropic to help customers scale enterprise AI adoption using Claude models. TCS will equip 50,000 associates with Claude across engineering, finance, legal, marketing and sales.

• Renuka Sugar - The company said India will require nearly 10 billion litres of ethanol but sees challenges in feedstock availability rather than demand. It said there is no immediate need for capacity expansion under current conditions.

• RBL Bank - Bhavin Lakhpatwala is likely to join RBL Bank as Chief Financial Officer- media report. Lakhpatwala previously served as head of strategy at HDFC Bank.

• Prestige Estate – Prestige Group plans to invest about Rs1800cr to develop a 14.2-acre site in Bengaluru Airport City.

• Prime Securities – Company said its group firm has launched a real estate-focused alternative investment fund targeting up to Rs 1,000 crore.

Global Market Update

• European Market - European stocks rose, snapping a four-day losing streak, as an advance in ASML Holding NV drove gains in tech shares. Both Germany and France Index gained 0.5% each.

• Asian Market - Asian stocks fell as rising oil prices and persistent tensions in the Middle East weighed on sentiment. The MSCI Asia Pacific Index dropped as much as 1.7% before paring some losses. Japan, China, Hong Kong, South Korea and Taiwan Index declined up to 1%.

• US Data - Initial jobless claims.

• Commodity - Brent Crude jumped 3% to $93/bbl on Thursday after the United States and Iran exchanged fire for a second straight day, heightening fears that the two countries could slide back into open conflict.

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