The key domestic indices ended near a flat line with positive bias on Thursday amid mixed global cues. The Nifty closed below the 22,550 mark. Trading was volatile due to the monthly Nifty 50 F&O series expiry today.
In the barometer index, the S&P BSE Sensex, advanced 10.31 points or 0.01% to 74,612.43. The Nifty 50 index shed 2.50 points or 0.01% to 22,545.05.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.97%, and the S&P BSE Small-Cap index fell 2.09%. The market breadth was weak.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.97% to 13.31.
Among the sectoral indices, the Nifty Financial Services index (up 0.60%), the Nifty Metal index (up 0.50%) and the Nifty Bank index (up 0.28%) outperformed the Nifty 50 index.
Meanwhile, the Nifty Media index (down 3.58%), the Nifty Realty index (down 2.09%), and the Nifty Auto index (down 1.51%) underperformed the Nifty 50 index.
Numbers to Track:
The yield on India's 10-year benchmark federal paper grew 1.73% to 6.822, compared with the previous close of 6.700.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 87.1800 compared with its close of 87.1900 during the previous trading session.
MCX Gold futures for 4 April 2025 settlement shed 0.70% to Rs 85,274.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.16% to 106.68.
The United States 10-year bond yield rose 1.51% to 4.313.
In the commodities market, Brent crude for April 2025 settlement added 75 cents or 1.03% to $73.28 a barrel.
Global Market:
Most European stocks declined on Thursday after U.S. President Donald Trump threatened to impose 25% tariffs on imports from the European Union.
Asian shares ended mixed, influenced by a combination of Nvidia's earnings results and renewed US trade tariff concerns.
Nvidia, a key player in the AI sector, reported strong quarterly figures, forecasting first-quarter revenue of $43 billion, exceeding expectations of $42.05 billion. However, a projected softer-than-expected gross margin, attributed to the Blackwell production ramp-up, led to a volatile after-hours trading session, with the stock fluctuating between gains and losses. This muted investor response followed a period of consistently high expectations.
Adding to market unease, President Donald Trump announced plans to impose 25% tariffs on the European Union and reiterated that tariffs on Mexico and Canada would take effect on April 2. Contradictory statements within his announcement created confusion and uncertainty among investors.
These developments followed a flat close for U.S. stocks on Wednesday, which had already seen four consecutive days of losses. Concerns about a potential U.S. economic slowdown, reflected in weak consumer sentiment data, further contributed to the negative market sentiment.
Specifically, the S&P 500 closed unchanged at 5,956.18 points, the NASDAQ Composite rose 0.3% to 19,075.26 points, and the Dow Jones Industrial Average fell 0.4% to 43,433.12 points.
Investors are now awaiting key economic data, including fourth-quarter gross domestic product figures due Thursday and the Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, scheduled for Friday.