Will New-Age Tech Stocks Drag Markets as GIFT Nifty Signals Weak Opening?
Market Overview
The GIFT Nifty traded lower, showing a discount of over 40 points compared to Nifty Futures’ Friday close — hinting at a subdued start for Indian markets. Global cues remain volatile as U.S. indices posted a mixed close amid ongoing government shutdown discussions.
Cues This Morning
- Nifty fell for the third straight session but rebounded 180 points from the day’s low.
- Shriram Finance led gainers; Bharti Airtel was the top loser.
- Nifty Bank snapped a 2-day losing streak, testing 58,000 intraday with ICICI Bank and AU Small Finance Bank in focus.
- Nifty Midcap recovered after two sessions; Smallcap index remained under pressure.
- Nifty Metal topped the sectoral chart, up 1.4%, driven by Hindustan Copper and Adani Enterprises.
- Nifty PSU Bank gained nearly 1% as Bank of Maharashtra and Bank of India remained in focus.
- Nifty Auto rose for a second straight session, with M&M and Sona BLW leading gains.
- Nifty IT slipped near its 50-day SMA; Tech Mahindra and OFSS dragged the sector.
- Nifty FMCG fell for the sixth session, while Nifty Pharma and Nifty Realty extended declines.
Across the globe, Nasdaq Composite dipped 0.2%, S&P 500 rose 0.13%, and Dow Jones added 75 points on Friday. The Nasdaq fell 3% for the week — its worst since April — reflecting persistent tech stock pressure.
Dow Futures were trading up 143 points, while Nasdaq Futures climbed 0.7%, suggesting a mild rebound in the U.S. session later today.
Key Stocks to Watch
| Stock | Action / Development | Sentiment |
|---|---|---|
| Trent | Revenue +17% YoY; margins expand | Positive |
| Hexaware | Acquires CyberSolve for $66 million | Positive |
| Swiggy | Approves ₹10,000 Cr fundraise via equity/QIP | Positive |
| Insurance Stocks | Strong October growth across majors | Positive |
| Nykaa | Revenue +25% YoY; GMV +30% | Positive |
| Bajaj Auto | Margins expand 70 bps QoQ; management guides 15–20% export growth | Neutral |
| JSW Cement | EBITDA/ton +86% YoY; strong performance | Positive |
| Container Corp | Bags ₹157.9 Cr logistics order | Positive |
| Ashoka Buildcon | Wins ₹539 Cr railway project | Positive |
| Anant Raj | Revenue +23%; strong data center growth | Positive |
Investors should monitor Lenskart’s debut today, where GMP has fallen sharply from a 25% premium to flat/negative territory. Founder Peyush Bansal termed the listing “Day Zero” — signaling a long-term roadmap rather than short-term focus.
Ola Electric clarified that recent tech leak reports were “false” and reiterated its focus on upcoming EV scooter rollouts. Swiggy’s fundraise and Nykaa’s strong GMV growth reaffirm optimism in select digital names despite volatility.
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Opportunities & Threats
💡 Opportunities
- Rising infra orders and housing push boosting construction sector.
- PSU banks’ continued outperformance on strong credit growth.
- Auto exports improving as supply bottlenecks ease.
📉 Threats
- Profit booking in new-age stocks post listing volatility.
- IT and FMCG weakness may weigh on index momentum.
- Prolonged U.S. shutdown could affect global sentiment.
Investor Takeaway
Market sentiment remains mixed as traders await clarity on global trends and domestic inflation data. Short-term volatility may persist, but sector rotation toward PSU banks, infra, and select autos can offer opportunities. Explore more actionable market insights at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Related Queries on Market Outlook
- Why is GIFT Nifty trading at a discount today?
- Which PSU and infra stocks show resilience this week?
- How are new-age IPOs like Lenskart and Swiggy performing?
- Will IT and FMCG weakness continue to pressure Nifty?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
