Positive Start for Markets: Sensex Gains 85 Points, Nifty Crosses 25,400

Markets Slip After Positive Start; IT Drags, Broader Indices Hold Firm.

Indian benchmark indices opened in the green on Thursday but quickly turned negative as IT stocks came under pressure. At 9:28 AM, the BSE Sensex was down 43.60 points at 83,492.48, while the NSE Nifty50 slipped 15.90 points to 25,460.20.

Despite a firm global backdrop and steady fund flows, markets remained range-bound.

“The market has been stuck in a narrow range for over a month,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. “While global cues and inflows offer support at the lower end, a decisive breakout beyond Nifty 25,500 will need stronger catalysts — a US-India trade deal alone won’t be enough.”

Early Movers
Top gainers included:

Bajaj Finserv (+0.51%)

Tata Steel (+0.37%)

Power Grid (+0.32%)

Bajaj Finance (+0.16%)

Axis Bank (+0.15%)

Key laggards:

Tata Motors (-0.92%)

Bharti Airtel (-0.58%)

Infosys (-0.47%)

Mahindra & Mahindra (-0.47%)

HDFC Bank (-0.43%)

Sectoral Performance
IT led the losses with a 0.50% dip, while Auto (-0.24%), Healthcare (-0.43%), Media (-0.19%), and FMCG (-0.02%) also slipped.

On the upside, Metal (+0.65%), Pharma (+0.33%), Realty (+0.39%), and Financial Services (+0.23%) provided some cushion.

Broader Markets & Volatility
Broader indices outperformed the benchmarks:

Nifty Midcap100: +0.21%

Nifty Smallcap100: +0.36%

India VIX: +1.15%, signaling higher market volatility ahead

Earnings Season Watch
With Q1 earnings kicking off today, stock-specific action is expected to intensify.

“Expectations from large-cap IT are muted, but mid-cap IT players may deliver strong numbers and upbeat commentary,” Vijayakumar noted. “In banking, credit growth will be the key differentiator, while in autos, M&M and Eicher Motors look poised to outperform.”