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Informist, Wednesday, Jun. 4, 2025

By Akash Mandal

MUMBAI – Benchmark indices are likely to remain sideways on Thursday ahead of the weekly expiry of the futures and derivatives contract of the Nifty 50. The expiry might prove to be a trigger for the market to move to either side, analysts said. On Wednesday, the Nifty 50 moved in a thin range of 115 points amid muted volumes and a lack of fresh triggers. Investors will keep monitoring the developments on the tariff front between the US and China.

"The Nifty 50 is likely to be rangebound amid slow interest from investors... the weekly expiry might be a trigger for the market," a technical analyst at a domestic brokerage said. Shrikant Chouhan, head of equity research at Kotak Securities, also had similar views. "We believe that the current market structure is non-directional, and the intraday formation indicating range-bound activity is likely to continue in the near future. For traders, the key levels to watch are 24450/80500 and 24700/81300," Chouhan said in a note.

On Wednesday, the Nifty 50 ended at 24620.20 points, up 77.70 points or 0.3%, and the BSE Sensex closed at 80998.25 points, up 260.74 points or 0.3%. Nearly 281 million shares changed hands on the bourses during the session, lower than the 349 million shares traded on Tuesday. The Nifty 50 is likely to face resistance at 24800 points and support at 24400 points on Thursday.

With the March quarter earnings behind, investors will shift their focus to earnings for the June quarter. JM Financial cut its earnings per share estimate for Nifty 50 companies by 5.3% for 2025-26 (Apr-Mar) and 5.9% for FY27. While the earnings for the March quarter beat analysts' expectations, it was dragged down by a fall in the earnings per share of companies in the financial sector, the brokerage said in a strategy report. It now expects the earnings per share of the Nifty 50 companies to grow 12% in FY26 and 14.3% in FY27.

Investors will now eye the US Services purchasing managers index data for May, due later Wednesday, which will provide cues regarding the health of the US economy amid persistent trade tensions and fears of an economic slowdown. Investors will also await the outcome of the Reserve Bank of India's monetary policy meeting due Friday. The market widely expects the RBI to cut the repo rate by 25 basis points. A likely meeting between the US and China for trade talks later in the week will also be monitored.  End

Edited by Saji George Titus

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