Stock Market Alert: Nifty Opens Above 25,200; Broad Market Strong; Will IT, Bank Stocks Drag Markets Down?

Stock Market Opening: The Indian stock market continued the tradition of flat opening for the week as Nifty opened 0.07% higher at 25,230.80, whereas BSE Sensex jumped 119.0 points to start at 82,753.5 on Thursday, July 17.

IT sector stocks continued their downward trend, as quarterly earnings provided mixed signals to the Indian stock market. Banking and financial services stocks also remained under pressure, with Nifty Bank trading down 0.04% and Nifty Financial Services down 0.08%.

All the broad market indices continued to stay in green, indicating a positive investors' sentiment. Nifty 100, Nifty 200, and Nifty 500 were trading above 0.1%. Whereas, Nifty Midcap 50, 100, Smallcap 100, etc, were also trading in green.

Top Laggards

HDFC Life, Tech Mahindra, ICICI Bank, SBI Life, Adani Ports, Axis Bank, Wipro, Hindustan Unilever, HCL Tech, Jio Financial Services, etc were trading in red. Th

Top Gainers
IndusInd Bank, Eicher Motors, Hindalco, Trent, Dr Reddy's, Mahindra & Mahindra, Hero Motocorp, Sun Pharma, and Tata Consumers were among the top gainers on NSE and BSE.

Stock Market Recap

The Indian stock market on Wednesday recovered only to conclude in red during the last trading session. The Nifty50 ended marginally lower at 25,212. While the IT sector stocks remained under pressure, PSU Bank stocks stood out with the Nifty PSU Bank index rising 1.8%. Other than IT and bank, Nifty Metal stocks remained under pressure as investors tried to understand the impact of US tariffs in the sector.

What Should Be Investors' Strategy For The Rest Of The Day?

The Indian stock market may see some gains during the Thursday's trading session supported by improving macroeconomic data trends and positive developments around India-US trade deal.

"We expect markets to consolidate with a positive bias, supported improving rural and healthcare trends, and any progress on India-US trade negotiations. Stock-specific action will likely continue as the earnings season gathers pace," noted Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.

"Acute therapy growth rebounded to 11% in June (vs. 5% in May), aided by seasonal trends and a revival in anti-infectives. Over the past 6-9 months, rural demand has seen a notable revival, outpacing urban consumption. This recovery follows nearly two years of softness due to high inflation, weak savings, and sluggish tractor sales. With easing inflation, policy support, and favorable weather, rural markets appear well-positioned for a steady and inclusive rebound. Both FIIs and DIIs were net buyers on Tuesday, cushioning broader weakness as investors remained cautious amid renewed US tariff talks and a lacklustre start to the Q1 earnings season," he added.

According to Nirmal Bang's research report, the Indian stock market is "likely to witness range bound move during the day."

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