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Informist, Thursday, May 8, 2025

By Akash Mandal

MUMBAI – The market is likely to remain volatile in upcoming trading sessions with geopolitical uncertainty growing, analysts said. For Friday, the market's direction will depend on developments in the conflict between India and Pakistan. The market may also be influenced by the trade talks between the US and some of its trading partners, as well as by corporate earnings.

Sentiment for the near term is weak, and the Nifty 50 might fall to the 24200 points levels in the near term on the uncertainty, Jatin Gedia, research analyst at Mirae Asset Sharekhan, said. The index will consolidate in a narrow range until it either breaches 24200 points on the lower side or surpasses 24500 points on the upper side, he said. The focus will also shift back to the US markets, where rising Treasury yields highlight the uncertainty in the market with regard to the policies of the Donald Trump administration, Gedia said.

The Nifty 50 was dragged down by heavyweights such as HDFC Bank, Bharti Airtel, and State Bank of India. It ended at 24273.80 points, down 140.60 points or 0.6%. The BSE Sensex closed at 80334.81 points, down 411.97 points or 0.5%. The broader market indices ended 1.0-2.0% lower. For Friday, analysts have pegged the support for the Nifty 50 at 24200-24000 points and the resistance at 24500-24650 points.

While a rise in tensions between India and Pakistan has historically been lowered with minimal impact on the financial markets, an escalation cannot be ruled out this time, ET Now reported on social media platform X, quoting Jefferies. In spite of that, Jefferies expects any fall in the market to remain short-lived.

Investors will react to the March quarter earnings of Larsen & Toubro and Titan Co., which came in after market hours Thursday. Friday is seen to be a relatively quiet day on the earnings front with only one Nifty 50 constituent due to announce its earnings—Dr. Reddy's Laboratories. The company's bottom line for the quarter is likely to rise 11% on year on the back of robust sales of the generic version of cancer drug Revlimid, analysts said.

The stock, which has fallen more than 3% in the past five sessions in the run-up to the earnings, is seen moving in a range of INR 1,100-INR 1,210 Friday, derivatives analysts said. Thursday, the stock ended over 1% lower at INR 1,148 on the National Stock Exchange.

Investors will also monitor the press conference by President Trump, due 1930 IST Thursday, where he is likely to announce a trade deal with an as-yet unnamed country. The deal is likely to be with the UK, The New York Times had reported late Wednesday.  End

Edited by Rajeev Pai

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