Opening bell: Sensex, Nifty seen extending rally; NTPC, UltraTech Cement, HCL Tech, Torrent Pharma shares in focus

The Indian benchmark indices, the BSE Sensex and the NSE Nifty, are expected to continue their gaining streak on Friday, tracking positive cues from global peers with ease in geopolitical tensions, and rising hopes of rate cuts by the U.S. Federal Reserve this year. The domestic market is also likely to react positively to U.S. President Donald Trump’s comment that a "very big deal" with India is likely to be signed soon. Trump also said that the US signed a trade pact with China yesterday.

At 7:55 AM, the GIFT Nifty Futures were trading higher by 122 points at 25,732, indicating a solid start for the Sensex and the Nifty50.  

On the global front, the Asian markets traded higher following a positive closing on Wall Street amid growing optimism about a rate cut by the U.S. Fed later this year. Equities in Japan, Hong Kong, China, and Australia were trading higher, led by the Nikkei 225 index, which surged over 1.6%.

In overnight trade, U.S. stocks also ended on a strong note as investors shrugged off worries about a tariffs war, sticky inflation, and global conflict. The S&P 500 index inched close to its all-time high levels by rising 0.8%, while the Nasdaq Composite advanced 0.97%, and the Dow Jones Industrial Average settled 0.94% higher.

On Thursday, the Indian equities market ended on a strong note, rallying over 1% amid strong buying across banking and auto sectors because of the apparent stability of the Middle East ceasefire, which has eased concerns about potential supply chain disruptions, which lifted sentiment. The BSE Sensex surged 1,000.36 points, or 1.21%, to close at 83,755.87, while the NSE Nifty50 jumped 304.25 points, or 1.21%, to settle at 25,549. On the other hand, the broader market saw some profit booking, with the Nifty Midcap100 and the Nifty Smallcap100 indices sliding by 0.59% and 0.42%, respectively.

Stocks to watch today

UltraTech Cement:  The country’s largest cement manufacturer has started its second grinding mill at the Maihar plant in Madhya Pradesh, adding 1.8 million tonnes per annum (mtpa) to its production.

Hitachi Energy:  The company has bagged an order from Power Grid Corporation of India to supply 30 single-phase transformers rated at 765 kV and 500 MVA.

HCLTech:  The IT major has expanded its partnership with Salesforce and launched new services to support adoption of Salesforce Agentforce.

NTPC:  The state-owned company has said that its 3,300 MW Barh Super thermal power project in Bihar will start commercial operations from July 1.

Torrent Pharma:  The drug maker has issued commercial papers worth ₹300 crore.

Power Mech Projects: The company has secured an order worth ₹159 crore from Bihar State Power Generation Company.

Associated Alcohols & Breweries: The company has launched its premium whisky ‘Hillfort’ in Uttar Pradesh.

Technical outlook

Rupak De, Senior Technical Analyst at LKP Securities, said that the Nifty has given a decisive move above the recent consolidation on the daily chart, indicating growing optimism among traders and investors. With the index breaking above the consolidation zone, the analyst sees no major resistance until the 25,700–25,750 zone.

“With no major resistance until the 25,700–25,750 zone, we expect this rally to extend by another 150–200 points on the upside. On the downside, support is seen around 25,300–25,350," he said.

Ajit Mishra, SVP-Research, Religare Broking, expects the Nifty to gradually move towards its record high, with a possible pause around the 25,700–25,800 zone. 

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