Indian Markets Trade Higher Ahead Of Weekly Expiry; Metals, Autos Lead, PSU Banks Drag

Indian markets opened the weekly expiry session on a positive note, as investors await developments on the U.S.-India trade deal. The Nifty traded above the 25,500 level in early trade.

At 10:00 a.m. IST, the Nifty 50 traded 84 points higher at 25,540, while the Sensex rose 299 points to 83,708. 

Broader markets fared slightly better, with the Nifty Midcap and Smallcap indices rising 0.1%

The retail sentiment on Stocktwits for Nifty remained ‘bullish’. 

Sectorally, metals continued to shine for the second session, along with autos seeing strong buying. On the flip side, PSU banks continued to reel under pressure. 

Nykaa (FSN E-Commerce Ventures) shares fell 4% following a block deal. 

Avenue Supermarts shares slipped 4% following their first quarter (Q1FY26) business update. Also Goldman Sachs has a ‘Sell’ rating, with a target price of  ₹3,400, indicating 21% downside.

Tata Power fell over 2% after an arbitral tribunal claimed damages worth $498 m in Kleros case.

And Coromandel International rose 4% as the Competition Commission of India (CCI) approved its share acquisition in NACL. 

From a technical standpoint, SEBI-registered analysts on Stocktwits shared the trade setup. 

Kush Ghodasara noted that the Nifty index had enjoyed a strong short-term bull run, but recent price action suggests that momentum has exhausted. The momentum indicators are showing a shift towards a bearish bias.

He added that confirmation of this reversal can be seen by watching for a close below 25,250, which was the previous resistance level. Until then, exit short-term long positions on the index and add new positions only if the index breaks out of the 25,250-25,700 range in the direction of the breakout.

Prabhat Mittal pegged immediate support for the Nifty at 25,380 and resistance at 25,620, while he placed Bank Nifty support at 56,700 and resistance at 57,600.

Analyst Varunkumar Patel highlighted that Foreign Institutional Investors (FIIs) have offloaded ₹1,500 crore worth of stocks in the cash segment, while significantly increasing their net short positions in index futures and options (F&O). 

He added that the weekly Nifty expiry on Thursday may lead to some volatility, but the overall market is expected to remain range-bound with no signs of panic or weakness. Patel advises focusing on selecting strong stocks for trading and always using a stop-loss to manage risks.

Globally, Asian markets traded mixed on Thursday, while crude oil prices rose overnight following Iran's suspension of cooperation with the U.N. nuclear watchdog and the announcement of a trade deal between the U.S. and Vietnam. 

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