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Informist, Thursday, May 15, 2025

By Akash Mandal

MUMBAI – Benchmark indices are seen extending gains Friday buoyed by the positive sentiment in the market. While investors might book some profits if the Nifty 50 touches the 25200-mark, any dip will be temporary and seen as a buying opportunity, analysts said. Investors will await developments on trade talks between India and the US after President Donald Trump said New Delhi has agreed to near-zero tariffs.

"As we approach the weekly close, it is possible that 25200 may experience some intraday profit booking," Kshitija Salvi, technical analyst at IDBI Capital Markets & Securities, said. "The overall trend remains bullish, and any correction or profit-taking should be viewed as an opportunity to re-enter long positions," Salvi said.

Shrikant Chouhan, head of equity research at Kotak Securities, also advocated a similar buy-on-dips strategy. "We believe that the market's outlook remains positive, but buying on intraday corrections and selling on rallies would be the ideal strategy for day traders," Chouhan said in a note.

On Thursday, the Nifty 50 ended at 25062.10 points, up 395.20 points or 1.6%, and the BSE Sensex closed at 82530.74 points, up 1200.18 points or 1.5%. For Friday, analysts pegged the support for the Nifty 50 at 24800-24650 points and the resistance at 25200-25400 points.

The market is continuing to rise despite weak earnings growth across sectors. While earnings for mid-cap companies have been robust for the March quarter, results for large-cap companies have lagged significantly, Elara Capital said in its strategy report Wednesday. Midcaps delivered a profit delta of INR 77 billion on a base of INR 436 billion — an 18% earnings accretion — compared to INR 63 billion on INR 1,538 billion for large caps at 4%, the brokerage said.

However, the brokerage said it still prefers large-cap companies as they are likely to benefit from swifter repricing of loans. "In our view, for mid-cap space, margin sustainability, earnings visibility will be tested once global demand normalises and cost base resets," the brokerage said.

Friday is set to be a relatively quiet day on the earnings front. Bharat Heavy Electricals is the only Nifty 100 company that will announce its March quarter earnings during the day. While the company is seen reporting a 33% on-year rise in its top line, analysts are divided on the company's net profit. One of the three brokerage recommendations available with Informist expects the company to post a year-on-year decline in its profit, while the other two expect a rise. Delhivery will also announce its quarterly earnings Friday.  End

Edited by Saji George Titus

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