Sector Watch
Financial stocks rose 0.4%, led by Kotak Mahindra Bank, up 1.5% after the RBI lifted its credit card and digital enrollment ban. SBI Cards jumped 5.3% after Macquarie upgraded it to “outperform,” citing cost benefits and improved liquidity through FY25-27. Sector-wise, seven of the 13 major sectors ended lower. Smallcap stocks, which are more domestically focused, declined 0.37%, while mid-caps edged up 0.25%.
Expert Take
Despite early gains from easing inflation, markets lost steam amid global uncertainty and weak earnings, said Vinod Nair of Geojit Financial Services. A surge in Chinese tech stocks, driven by AI interest, diverted FIIs. Investors now await the Trump-Modi talks for potential trade concessions and a pullback rally.
Global markets today
Global stocks mostly rose Thursday after U.S. President Trump and Russian President Putin agreed to talks on ending the Ukraine war.
U.S. stock futures were flat, with Dow and S&P 500 futures slipping under 0.1%. Asian markets found optimism in potential tariff relief from Trump. Japan’s Nikkei climbed 1.3% on a weaker yen, while MSCI’s Asia-Pacific index hit a two-month high, rising 1.2%.
South Korea’s Kospi jumped 1.4%, but Chinese blue chips and Hong Kong’s Hang Seng fell 0.2% after early gains.
Bond markets reacted to U.S. inflation data, which showed the highest monthly rise in 18 months. Core inflation, excluding food and energy, rose 0.4%, exceeding the expected 0.3%.