Stock Market Alert: Nifty, Sensex Open In Red; IT, Banking, Drag Growth; All Eyes On Reliance Q1 Result Today

Stock Market Alert: The Nifty 50 and BSE Sensex opened on a weaker note on Friday as the IT, banking and financials and other stocks traded in red. The muted stock market opening today was in contrast to the strong US stock market performance and indicated investors' apprehensions as they continued to evaluate the tepid Q1 results season.

Nifty 50 opened 3 points lower at 25,108 points, whereas BSE Sensex was down 65 points at 82,193.6 points. Indian conglomerate, Reliance Industries Limited (RIL) will announce its June quarter earnings for financial year 2025-26 on Friday, July 18. Reliance shares were trading flat ahead of their Q1 result announcement. Wipro and Jio Financials were trading in green. Additionally, metal and mining sectors like Hindalco, Tata Steel, JSW Steel, etc were trading in green.

Top Losers and Gainers

Axis Bank, SBI Life, Kotak Mahindra Bank, Cipla, Sun Pharma, HDFC Life, etc, were trading in red during the opening session, emerging as the top Nifty laggards. Whereas, Wipro, Tata Steel, JSW Steel, HCLTech, L&T, and other stocks were trading green.

Nifty and Sensex were trading in negative territory during the pre-opening session, with multiple IT stocks, including Tech Mahindra, L&T, TCS, etc, trading in green.

The Indian stock market opened on Friday after the Nifty indicated a gap-up opening. Gift Nifty was up around 24 points at 7 am. However, Gift Nifty Futures reversed its trajectory as it was trading 24.5 points lower at 25,189 points.

Stock Market Today: What Should Be Investors' Strategy For Nifty?

Indicating a flat opening of the Nifty 50 on Friday, brokerage Nirmal Bang noted that the index may see a range-bound movement during the rest of the day.

"On technical grounds, Nifty has an immediate resistance at 25200. If Nifty closes above that, further upside can be expected towards 25270-25340 mark. On the flip side 25000-24940 will act as strong support levels," the brokerage added in its report.

For Bank Nifty, Nirmal Bang mentioned, "Bank Nifty's next immediate resistance is around 57240 levels on the upside and on a decisive close above expect a rise to 57570-57800. There is an immediate support at 56740-56500 levels."

Stock Market Recap

The Indian stock market closed nearly unchanged on Thursday with benchmark indices slipping around a half percentage at the closing hours. Markets ended lower with Nifty 50 closed 0.4% down at Nifty50, whereas volatility persisted amid Nifty's weekly F&O's expiry. Other than Nifty 50 and Sensex broadmarket indices remained weak despite opening in green yesterday.

Realty, metal, and consumer durables stocks saw buying interest, while IT and banking shares dragged the indices down.

"Asian markets traded lower as the U.S. struck a one-sided trade deal with Indonesia. Under the agreement, Indonesian exports to the U.S. will face a 19% tariff, while U.S. exports to Indonesia will enjoy zero tariffs or non-tariff barriers, highlighting the imbalance in trade concessions. Media reports indicated the US may offer India a tariff rate below 20% amid ongoing trade discussions in Washington DC. Going forward markets are likely to remain in consolidation mode, with focus on ongoing earnings and progress in US-India trade negotiations. Key results on Friday include Reliance Industries, JSW Steel, and L&T Finance," stated Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Global Stock Market Today

The United States stock market showcased strong growth during Thursday's trading session with multiple exchanges reporting fresh intraday high mark. The market bullish momentum was the result of positive outlook after economic data and the favourable outcome of some of the companies announcing their earning results.

The S&P 500 ended 0.54% higher at 6,297.36 points, whereas the tech-heavy Nasdaq advanced 0.75% to touch at 20,885 points. Both indexes touched fresh intraday all-time highs. Dow Jones Industrial Average also gained around 229.71 points, or 0.52% to settle at 44,484.49 points.

The Asian stock markets showcased mixed performance during the starting of the Friday's session. Nikkei 225 was down 0.31% to 39,778.5 points, whereas Hang Seng Index was up 0.97% at 24,736 points.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.