Nifty Signals Strong Start to Trading Day Ahead of Key Earnings and Election Results

Indian Stock Market Witnesses Sharp Selling Amid Global Market Sentiments

The Indian stock market witnessed a sharp sell-off on Thursday, with the Nifty 50 index crashing 180 points to close at 23,997. The BSE Sensex nosedived 582 points to close at 76,913, while the Bank Nifty index finished 540 points lower at 54,863.

The sell-off was broad-based, with several sectors ending in the red, led by metals, realty, and FMCG. However, IT showed relative strength. Broader markets also mirrored the weakness, with midcap and smallcap indices declining around 0.4-0.8%, indicating widespread risk aversion.

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Despite the sell-off, the Gift Nifty is trading green, up by a sizeable margin from its previous session's close. The index opened upside at 24,251 and touched an intraday high of 24,293 within a few minutes of the Opening Bell. By 7:45 AM, the index was trading around 120 points higher at 24,265.

Earnings-driven action will be a critical factor to watch in today's session, with heavyweights such as Ambuja Cements, Bharat Heavy Electricals Limited, and Tata Technologies expected to play a pivotal role in shaping sectoral sentiment. Strong performance from Ambuja could reinforce confidence in the cement and infrastructure theme, particularly around execution and synergy benefits.

The vote-counting day has finally arrived, as assembly election results for West Bengal, Assam, Tamil Nadu, Kerala, and Puducherry will be declared today. Early trends would emerge by afternoon, but the final results will be known by this evening. Counting of votes will begin at 8:00 AM.

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India VIX remains elevated at around 18.4, signaling underlying caution. A sustained upside move could help compress volatility, easing option premiums and supporting a more stable trading environment.

Market experts recommend several buy-or-sell stocks for intraday trading. Sumeet Bagadia of Choice Broking recommends buying Sona Blw Precision Forgings at ₹607, with a target of ₹651 and a stop loss of ₹585. Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi, recommends buying Reliance at ₹1436, with a target of ₹1560 and a stop loss of ₹1410.

Market experts also recommend buying Tata Capital at ₹333, with a target of ₹354 and a stop loss of ₹325.