- Indian markets opened cautiously, impacted by global financial headwinds.
- US Federal Reserve held rates; West Asia tensions weighed globally.
- Crude oil remained elevated, Indian market technical outlook strengthened.
Indian benchmark indices opened on a muted note on Thursday as investors balanced strong domestic momentum against weak global cues following the US Federal Reserve’s decision to keep interest rates unchanged and renewed geopolitical tensions in West Asia.
The BSE Sensex rang the opening bell near 77,500, slipping more than 100 points, while the NSE Nifty50 started trading around 24,200, taking a hit of over 30 points, as of 9:15 AM.
GIFT Nifty Signals Quiet Opening
Early indications had pointed to a subdued start, with GIFT Nifty trading about 25 points lower, or around 0.10 per cent, before the opening bell.
At around 9:10 AM, the Sensex was trading at 77,654.55, largely unchanged from the previous close, while the Nifty was hovering near 24,249.55, indicating a steady start to the trading session.
The muted mood follows a strong rally in the previous session, when the Nifty surged 1.10 per cent to close at 24,250, while the Sensex climbed 1.16 per cent to settle at 77,654.60, supported by broad-based buying across sectors.
Asian Markets Mixed As Fed Decision, Iran Tensions Weigh
Markets across the Asia-Pacific region traded cautiously after US President Donald Trump warned of a tougher response against Iran, fuelling concerns over geopolitical risks and pushing oil prices close to the $90-a-barrel mark.
Investors also reacted to the US Federal Reserve’s decision to leave benchmark interest rates unchanged.
Japan’s Nikkei 225 slipped 0.25 per cent, while the Topix lost 0.59 per cent. South Korea’s Kospi recovered 0.89 per cent after Wednesday’s sharp fall, although the Kosdaq declined 0.73 per cent Hong Kong’s Hang Seng futures pointed to a mildly positive opening.
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Wall Street Slides After Fed Holds Rates
US equities ended sharply lower overnight after the Federal Reserve maintained interest rates, disappointing investors who had been hoping for signals of an imminent rate cut.
The Dow Jones Industrial Average tumbled 1,153.18 points, or 2.19 per cent, marking its steepest single-day decline since April 2025.
The S&P 500 dropped 1.52 per cent, while the Nasdaq Composite fell 1.74 per cent, ending the session more than 10 per cent below its all-time high.
Crude Oil Remains Near $90
Oil prices remained elevated amid concerns that escalating tensions in West Asia could disrupt global supplies.
Brent crude traded around $90.42 per barrel, staying close to the psychologically significant $90 mark despite a slight decline of 0.35 per cent.
Meanwhile, West Texas Intermediate (WTI) crude hovered near $84.45 per barrel, while COMEX crude futures were marginally higher.
Higher crude prices remain a key concern for Indian markets as they could add pressure to inflation and the country’s import bill.
Technical Outlook
According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, Wednesday’s rally strengthened the market’s near-term technical outlook after both benchmark indices moved decisively above their 20-day Simple Moving Average (SMA).
He said the move above the key resistance zone reflects improving momentum and suggests the prevailing uptrend could remain intact, provided the indices hold above crucial support levels.
Chouhan identified the 24,100 level on the Nifty and 77,300 on the Sensex as immediate supports. “As long as the market sustains above these levels, the current positive trend is likely to continue,” he said.
On the upside, he expects the Nifty to move towards the 24,400-24,500 zone, while the Sensex could advance towards 78,000-78,300 if buying momentum persists.
However, he cautioned that a decisive break below the support zone could weaken the current bullish structure. He also advised traders to trim weaker long positions during sharp pullbacks while considering fresh buying only on declines towards the 24,000-23,900 range, where the risk-reward equation appears more favourable.
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