The Indian benchmark indices are poised to open lower on Thursday, mirroring weakness in Asian peers after Wall Street settled in the deep red in overnight trade. The weak cues from GIFT Nifty futures also indicated a gap-down opening for the domestic benchmark indices, the BSE Sensex and the NSE Nifty50. At 7:45 AM, the GIFT Nifty index was trading lower by 67.5 points, or 0.27%, at 24,762.

Among individual stocks, ITC, Sun Pharma, Grasim and Mamaearth parent Honasa Consumer will be in focus as they will announce their fourth quarter results today. Investors will also react to the Q4 results of IndusInd Bank, IndiGo, ONGC, and RVNL.

On Wednesday, the Indian stock market closed higher, with the BSE Sensex gaining 410 points, or 0.51%, to close at 81,597. The NSE Nifty50 settled 130 points, or 0.52%, higher at 24,813. The domestic benchmark indices retreated from the day’s high levels amid concerns over rising Covid-19 cases in some Asian regions and foreign fund outflows. The broader market also settled in the green zone, with the Nifty Midcap100, and the Nifty Smallcap100 indices gaining 0.78% and 0.38%, respectively.

Among the BSE Sensex pack, 24 of the 30 constituent stocks ended in positive terrain, led by Bajaj Finserv, Tata Steel, Sun Pharma, Tech Mahindra, and Bajaj Finance, which rose in the range of 1.3-2%. On the other hand, IndusInd Bank, Kotak Mahindra Bank, Power Grid Corporation, ITC, Ultratech Cements, and Maruti Suzuki were among top losers, falling up to 1.4%.

Weak global cues to weigh on market sentiment

On the global front, U.S. stocks extended their losing streak for the second straight session, with the sell-off intensifying in overnight trade amid growing concerns about the nation's sovereign debt profile. All three major U.S. indices settled sharply lower, with the Dow Jones Industrial Average nosediving 1.9%, the S&P 500 tanking 1.6%, and the tech-heavy Nasdaq Composite losing 1.4%.

Tracking overnight losses on Wall Street, Asian stocks also witnessed selling pressure this morning. The lack of clarity on the U.S.-China trade talks, spike in Covid-19 cases in some Asian regions, and persistent worries about the growing fiscal deficit of the U.S. dented sentiment. South Korea’s Kospi dropped over 1%, The Nikkei 225 index in Japan declined 0.85%, and Hong Kong’s Hang Seng slide 0.5%. China’s Shanghai Composite was trading flat with marginal losses.

Stocks to watch today:

IndusInd Bank: The private lender posted a loss of ₹2,328.92 crore in the fourth quarter ended March 31, 2025, against a profit of ₹2,349.08 crore recorded during the corresponding quarter of FY24.

Oil and Natural Gas Corporation (ONGC): The oil and gas major reported a 20% drop in its consolidated net profit at ₹8,856 crore for Q4FY25, compared to ₹11,096 crore in Q4FY24.

NTPC Green Energy: The renewable energy subsidiary of state-owned NTPC clocked a 188% year-on-year (YoY) rise in its consolidated net profit for the March quarter of FY25 at ₹233.21 crore, driven by higher income.

InterGlobe Aviation: The parent company of India’s largest carrier IndiGo reported its “best-ever” March quarter profits, driven by a surge in demand during the Mahakumbh festival in February. The Gurugram-based company registered a consolidated net profit of ₹3,068 crore in Q4FY25, up 62% YoY.

Power Finance Corporation: The company posted an 11% growth in its consolidated net profit to ₹8,357.88 crore for the quarter ended March 31, mainly on the back of higher interest income.

Rail Vikas Nigam Ltd (RVNL): The railway-related company reported a 4% YoY decline in consolidated net profit to ₹459.12 crore for the fourth quarter of FY25, compared to ₹478.40 crore in the year-ago period.

Tata Consultancy Services: The country’s largest software exporter has received an add-on Advance Purchase Order (APO) worth approximately ₹2,903 crore from state-owned telecom firm Bharat Sanchar Nigam Limited (BSNL).

KPIT Tech: The automotive technology company has set up a new technology centre in Gothenburg, Sweden.

Sonata Software: The IT company has launched AgentBridge, a platform designed to accelerate AI-powered enterprise transformation.

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