Indian stock market had a volatile sentiment in the early trade of Thursday’s session. Both benchmarks are currently trading lower after opening steadily with Sensex crossing the 74,000 mark and Nifty reclaiming above 22,400 levels. This comes after market indices saw a 1% to 2% surge on Wednesday, driven by strong global market cues. Hopes are that Trump may reverse some tariffs on foreign countries owing to global trade tensions.

Sensex, Nifty:

Sensex traded at 73,559.59, down by 170.64 or 0.23%, at the time of writing. The benchmark opened at an intraday high of 74,308.59 before correcting and hitting an intraday low of 73,415.68.

Stocks like Bharti Airtel, HDFC Bank, Ultratech Cement, Nestle, Kotak Bank, and Infosys are top bears. Meanwhile, stocks like Asian Paint, Tata Steel, Reliance, and M&M were top gainers on Sensex.

The Nifty benchmark opened on a strong note at 22,476.35 and climbed to an intraday high of 22,491.30. However, It pulled back soon after, hitting the day’s low of 22,245.85. Currently, It is trading at 22,292.90, down by 44.40 points or 0.2%.

Bank Nifty is trading at gap-down. However, Nifty Midcap and Smallcap indices surged by 1% each. The bearish trend has been minimised due to strong buying in sectors like Nifty Metal, Nifty Oil & Gas, Nifty PSU Bank, Nifty Consumer Durables, Nifty Healthcare and Nifty Media as these gained by 0.5% to 1%.

According to Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, “We are in a highly uncertain and volatile situation for global trade, global economy and markets. The end game of Trump’s tariff policy is unclear. Trump’s latest declaration granting exemption from recently hiked tariffs to imports of Canadian and Mexican autos indicates he intends to negotiate from a position of strength. So deals and settlements are possible but they are not going to be smooth.”

He added the dollar index declining to 104.3 is positive for emerging markets like India. If this trend persists the FII selling will soon stop paving the way for a market rally.

Lastly, he said, “RBI’s decision to infuse Rs 1.9 trillion liquidity into the banking system is good news for banks and NBFCs. Decline in Brent crude to below $70 is another macro positive for India which markets will discount positively.