Here are some live stock market updates:
Market Overview
- Sensex fell over 150 points, with Nifty testing 24,800 levels, amid weak earnings from Kotak Mahindra Bank and lingering uncertainty over trade negotiations with the US.
- The IT sector was a major drag, with TCS shares plummeting 2% after announcing plans to cut 12,000 jobs.
Key Stocks to Watch
- IndusInd Bank: Q1 results expected today, with analysts predicting a profit drop of up to 91% YoY due to derivative losses.
- Kotak Mahindra Bank: Shares fell 6% after Q1 profit dipped 7% YoY, missing analyst expectations.
- Tata Chemicals: Shares rose after the company reported a 68% YoY surge in Q1 profit.
- Torrent Pharma: Shares hit a fresh 52-week high, with analysts recommending a "buy" due to its strong performance.
Market Trends
- Nifty resistance seen at around 25,500 levels, with support at 24,500.
- Midcap stocks saw modest gains, while smallcaps traded slightly lower.
- Pharma stocks are expected to maintain their upward momentum.
Global Updates
- US and EU reached a trade agreement, easing fears of a full-blown trade war and boosting investor sentiment.
- Gold prices slipped to a near two-week low after the trade deal announcement.
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