At the close, the Sensex settled higher by 397.74 points, or 0.49%, at 82,307.37, while the Nifty rose 132.40 points, or 0.53%, to end at 25,289.90.
Here’s how analysts read the market pulse:
The domestic market staged a rebound, supported by signs of relief following President Trump’s positive remarks at the Davos meeting regarding Greenland and tariff, said Vinod Nair, Head of Research at Geojit Investments, adding that despite this, market sentiments remained cautious amid sustained rupee weakness and continued FII outflows.
“The initial set of corporate earnings did little to support current valuation levels. Nevertheless, investors have not ruled out the potential upside from a robust domestic demand environment, which could become more visible in the upcoming round of quarterly earnings announcements. Looking ahead, markets will closely monitor U.S. GDP growth and core inflation data later today, as well as the BoJ policy decision due tomorrow, for further cues,” said Nair.
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US markets
Wall Street stocks opened higher Thursday, extending a relief rally after President Donald Trump retreated on tariffs on European nations connected to his ambition to acquire Greenland.
“With Trump once again walking back all of his threats, the market is breathing a sigh of relief,” said CFRA Research’s Sam Stovall.
But Stovall also described the market as “vigilant,” aware that Trump “could come up with another plan to sort of upset the relations with our major trading partners.”
Appearing at the World Economic Forum on Wednesday, Trump said he would not use force to take over Greenland.
Later on Wednesday, Trump said he had reached a “framework of a future deal” after meeting NATO chief Mark Rutte, and that he would therefore waive tariffs scheduled to hit European allies on February 1.
European Markets
Relief at Trump’s change of tune pushed Europe’s STOXX 600 index up over 1%.
European firms are expected to report a 4.2% drop in 2025 fourth-quarter earnings, on average, according to LSEG I/B/E/S data, slightly worse than the 4.1% decrease analysts expected a week ago.
That would be the worst earnings performance in the past seven quarters.
The outlook for revenues also took a hit and are now expected to shrink 3.5% compared to last year, according to the LSEG data. That is worse than the 2.9% fall expected last week.
Tech View
The Nifty consolidated after a positive start, supported by strong global cues but it faced resistance near the 38.20% Fibonacci retracement level, resulting in a decline from the day’s high of 25,435 to 25,168 before closing near the midpoint of the session’s range, said Rupak De, Senior Technical Analyst at LKP Securities.
“Although the index managed to close above the 200DMA for the second consecutive day, the overall sentiment remains weak, as reflected by the elevated India VIX, which stood at 13.35,” said De, adding that in the short term, the index is likely to remain volatile on Friday.
Resistance is placed in the 25,480–25,500 zone, while support is seen around 25,125, De said.
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Most active stocks in terms of turnover
Eternal (Rs 4,438 crore), HDFC Bank (Rs 4,083 crore), Waaree Energies (Rs 2,633 crore), ICICI Bank (Rs 2,311 crore), RIL (Rs 2,207 crore), Hindustan Zinc (Rs 1,893 crore) and CreditAccess Grameen (Rs 1,554 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 53.3 crore), Eternal (Traded shares: 15.49 crore), YES Bank (Traded shares: 9.39 crore), Suzlon Energy (Traded shares: 5.62 crore), Ola Electric Mobility (Traded shares: 4.89 crore), SAIL (Traded shares: 4.58 crore) and HDFC Bank (Traded shares: 4.44 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Waaree Energies, Minda Corporation, Schneider, Welspun India, CreditAccess Grameen, Trident Ltd and Granules India were among the stocks that witnessed strong buying interest from market participants.
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52 Week high
Over 69 stocks hit their 52-week highs today while 276 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Bank of India and SBI.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were IIFL Finance, PNB Housing, Aditya Birla Lifestyle Brands, OneSource Specialty, Kalyan Jewellers India, Hindustan Copper and Tata Communications.
Sentiment meter bullish
The market sentiments were bullish. Out of the 4,385 stocks that traded on the BSE on Thursday, 1,280 stocks witnessed declines, 2,951 saw advances, while 154 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)