Equity Alert
Sentiment likely to remain weak; pharma, IT sectors in focus
This story was originally published at 08:21 IST on 26 September 2025
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Equity Alert: Sentiment likely to remain weak; pharma, IT sectors in focus
MUMBAI--0754 IST--Benchmark stock indices are likely to move in a range Friday and the Nifty 50 will face a tough time to reclaim the psychologically crucial 25000 level. Sentiment is likely to stay bearish with pharmaceutical stocks in focus after US President Donald Trump imposed tariffs on imports of branded and patented pharma products from Wednesday.
In a social media post, Trump said companies building pharma manufacturing plants in the US would be exempted from this tariff. Indian pharma majors are likely to face pain from the move, as India is the biggest exporter of generic drugs to the US.
Information technology stocks will also be in focus with global IT bellwether Accenture's muted guidance seen weighing on the sector. The September contract of the GIFT Nifty indicates a muted start for the market. At 0742 IST, the contract was at 24938.50 points, up just 11 points from its previous close. On Thursday, the Nifty 50 closed at 24890.85 points, down 166.05 points or 0.7%, ending below the crucial support of 25000 points for the first time in 10 sessions. The BSE Sensex ended at 81159.68 points on Thursday, down 555.95 points or 0.7%.
The 50-stock index slipped below the 20-day simple moving average, which indicates further short-term weakness, Reliance Research said in a note. The index needs to recover above the 25000 level to regain bullish momentum, the brokerage added.
Indices in the US retreated for the third straight session as better than expected jobless claims data and strong GDP data dented hopes of a rate cut by the US Federal Reserve. Most Asian indices were lower in early trade Friday tracking the recent decline in the US market. (Akash Mandal)
Equity Alert: US indices dn; rate cut uncertainty grows on labour, GDP data
MUMBAI--0740 IST--Stock indices in US closed lower Thursday after better than expected jobless claims data and an upward revision to US GDP growth for the June quarter complicated the US Federal Reserve's interest rate decision. Traders' expectations of another 25-basis-point cut at the central bank's October meeting are now at 86%, down from about 92% Wednesday, according to the CME FedWatch tool.
First-time filings for jobless benefits were at a seasonally adjusted 218,000 for the week ended Sept. 20, according to the US Labor Department. The jobless claims are below the 235,000 that economists polled by Dow Jones had estimated and 14,000 less than the previous week's revised initial unemployment claims.
US GDP expanded at a revised 3.8% rate in the June quarter, the fastest since the third quarter of 2023, the US Commerce Department said in its final GDP estimate. Previous data had shown 3.3% GDP growth for the same quarter. Analysts polled by Reuters had maintained that the GDP growth would be unrevised.
The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average closed lower for the third consecutive session. Shares of Oracle fell 5.6% as traders continued to be cautious about artificial intelligence-related companies. Among other laggards, shares of Tesla fell more than 4%.
Shares of Intel jumped nearly 9?ter The Wall Street Journal reported that Intel had approached Taiwan Semiconductor Manufacturing Company about investments in manufacturing or partnerships. Shares of consulting firm Accenture fell nearly 3?spite the company's quarterly top line growth exceeding expectations. Shares of CarMax fell 20.1?ter the used-car retailer reported a lower June quarter profit.
US President Donald Trump Friday announced 100% tariffs on branded and patented pharmaceutical products, effective Oct. 1. The fresh levies will not be applicable for companies that have started constructing their manufacturing plants in the US, Trump said on social media platform Truth social.
Following are the closing levels of US indices Thursday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6604.72 |
(-)0.5 |
|
NASDAQ Composite |
22384.70 |
(-)0.5 |
|
Dow Jones Industrial Average |
45947.32 |
(-)0.38 |
(Eshitva Prakash)
End
US$1 = INR 88.67
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Nishant Maher
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