Overview
- After a volatile session tied to fading Fed cut odds and US tech weakness, the Sensex closed at 84,563 and the Nifty at 25,910, with the Bihar outcome lifting sentiment late in the day.
- Sector moves were mixed as PSU banks outperformed, pharma and FMCG firmed, and IT fell about 1.03% with autos, metals and realty also lower.
- Analysts say recent results suggest the earnings trough is over, with expectations of faster growth in H2FY26 as demand improves.
- Company updates highlighted divergent trends: Asian Paints’ net profit rose 47% year on year, Tata Steel’s profit quadrupled, Eicher Motors gained 25%, while Voltas’ profit dropped 76%.
- Context for the next leg includes MSCI India’s roughly 25% one-year underperformance versus MSCI EM, technical support for Nifty near 25,300–25,400, and upcoming PMIs, US jobless claims and FOMC minutes.