Banking stocks continued to underperform the broader stock market, with ICICI Bank and Axis Bank emerging as the biggest laggards, weighing on market performance amid weak investor sentiment.
Indian equity benchmark indices Sensex and Nifty 50 traded in a narrow range during midday trading on Thursday. Investors remained cautious due to West Asia geopolitical tensions, uncertainty surrounding the US Federal Reserve’s interest rate decision, and anticipation of the latest US inflation data. Despite strong Indian economic fundamentals and gains in IT stocks, market sentiment stayed subdued. Traders are closely monitoring global market trends, inflation updates, and central bank policy signals for further direction in the Indian stock market.
Stock Market Today: Indian benchmark indices traded in a narrow range during the afternoon session, reflecting weak market momentum. The BSE Sensex was at 77,828.31, gaining 173.71 points (0.22%), while the Nifty 50 stood at 24,296.05, up 45.85 points (0.19%) as of 12:50 PM. The Indian stock market, including the Sensex and Nifty, has remained within a 0.25% trading range for the third consecutive session after opening, indicating a lack of strong directional movement. Investors are closely monitoring share market trends, equity market performance, stock market news, and market volatility for fresh trading cues.
The BSE Sensex traded at 77,828.31, gaining 173.71 points (0.22%), while the Nifty 50 stood at 24,296.05, up 45.85 points (0.19%) as of 12:50 PM. The Indian stock market continued to witness range-bound trading, with both benchmark indices moving within a narrow 0.25% range for the third consecutive session. The lack of strong buying or selling pressure reflects weak market momentum, as investors await fresh domestic and global market triggers. Market participants remain focused on stock market trends, Sensex today, Nifty today, share market updates, FII and DII activity, and upcoming economic data for clearer market direction.
Banking stocks continued to underperform the broader Indian stock market today, with ICICI Bank and Axis Bank emerging as the biggest losers. Bank Nifty opened slightly lower around 57,127 and fell below the 57,000 level during early trading. Technical analysts identify the 57,300–57,400 resistance zone as a key hurdle for further upside, while 56,800 remains the immediate support level. Investors and traders are closely monitoring Bank Nifty support and resistance levels, banking sector performance, and stock market trends for potential trading opportunities.
IT stocks emerged as the top performers in today’s Indian stock market, with the Nifty IT Index extending its winning streak for the fifth consecutive session, rising over 1.5% in morning trading. Wipro shares led the Nifty 50 gainers, climbing 2.64% to ₹188.45. Tech Mahindra stock advanced 2.18% to ₹1,680.10, while Infosys shares gained 1.75% to ₹1,175.80, reflecting strong buying interest in the IT sector. Max Healthcare rose 1.94% to ₹1,133.00, and Coal India shares added 1.48% to ₹416.10. The rally in leading IT stocks boosted overall market sentiment, making technology shares the key drivers of today’s stock market performance.
In today’s Indian stock market, Adani Ports share price emerged as the biggest loser in the Nifty 50, declining 3.20% to ₹1,664.70. Shriram Finance share price fell 1.93% to ₹1,024.50, while Eternal share price slipped 1.38% to ₹307.50. HDFC Life share price dropped 1.37% to ₹549.10, and Jio Financial Services share price declined 1.29% to ₹246.26, making them among the top Nifty 50 losers today.
In the commodity market, gold prices today outperformed silver amid increased safe-haven demand following fresh US strikes on Iran. COMEX Gold faced resistance in the $4,140–$4,160 range, while MCX Gold traded steadily with support between ₹1,40,600 and ₹1,41,000 and resistance near ₹1,42,300. COMEX Silver price declined 0.53% to around $57.725, while MCX Silver traded near ₹2,16,300, reflecting weakness in global silver prices. Meanwhile, MCX Crude Oil opened with a gap-down near ₹8,000, while WTI Crude Oil price hovered around $83.7 per barrel, keeping investors focused on the latest commodity market news and crude oil price trends.
The US Dollar Index (DXY) closed at 100.9, declining approximately 0.5%, reflecting weakness in the global currency market. Meanwhile, the Indian rupee (INR) remained stable near ₹95.6 against the US dollar, with the USD/INR exchange rate encountering strong technical resistance between ₹95.70 and ₹95.78. Traders are closely monitoring the forex market, US dollar movement, rupee exchange rate, and technical analysis for potential breakout signals that could influence currency trading and market sentiment.
According to Ankita Pathak, Head of Global Investments at Ionic Asset, the US inflation outlook, Federal Reserve policy, and upcoming US PCE inflation data remain the key drivers of global financial markets. She stated that inflation is declining more slowly than previously expected, increasing the possibility of future Fed interest rate hikes. A tighter monetary policy could strengthen the US dollar, putting pressure on commodity prices, emerging markets, and global stock markets. She also highlighted that the three dissenting FOMC votes and the Fed’s decision to avoid forward guidance reinforce a data-dependent monetary policy. Investors are closely watching the US Personal Consumption Expenditures (PCE) inflation report, the Fed’s preferred inflation gauge, as it is expected to influence equity markets, currency markets, and commodity trading. Recent US CPI inflation stood at 3.5%, while Core PCE inflation was 4.1%, both remaining above the Federal Reserve’s 2% inflation target. Meanwhile, the US jobs report showed average monthly job growth of 111,000 over the past three months, with the US unemployment rate at 4.2% in June 2026, highlighting the resilience of the US economy despite persistent inflation.
According to Ponmudi R, CEO of Enrich Money, Nifty 50 options data indicates strong call writing at the 24,300 and 24,400 strike prices, highlighting key resistance levels for the Indian stock market. Meanwhile, significant put open interest at the 24,200 and 24,100 strikes suggests strong support for the index. He stated that a sustained breakout above these resistance levels and the previous session’s high could strengthen bullish market sentiment, potentially driving the Nifty 50 towards the 24,400–24,500 range. However, a decisive fall below 24,150 may weaken the short-term market outlook and shift investor sentiment toward caution.
