First Trade: Nifty hovers around 25,130; pharma index top gainer
On mixed global cues, Indian equities traded on a weak note in Thursday's session.
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09:31 AM IST
Indian equities on the weekly expiry day started trade on a week note in Thursday's session. At the open, Nifty was down over 9 points at 25,132, while the Sensex was down 45.66 points or 0.06 per cent at 82,469.48. Meanwhile, the Bank Nifty traded mildly higher.
In the broader markets space, there is seen profit booking with both the smallcap and midcap indices down 0.3 per cent.
From the Nifty space, top gainers include stocks like ONGC, Sun Pharma, Dr. Reddy's Laboratories, Asian Paints and Bajaj Finserv, while laggards were Infosys, Tech Mahindra, Eternal, Tata Steel and Tata Motors.
Stocks to watch
Canara Bank: The PSU lender's board meeting is scheduled today for considering and approving capital raising plans for FY26.
Ex-date: Tata Chemicals and Trent will turn ex-dividend for a final dividend of Rs 11 and Rs 5, respectively.
Ethos: In respect of the company's rights issue, the company's record date is today. For the rights issue, the company will give 4 shares for every 43 shares held.
Paytm: The fintech company shares are in news as the financial ministry has denied the implementation of MDR or merchant discount rate which is negative for the new age company.
Technicals
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 25,000-25,075 levels and a strong buy zone at 24,800-24,950 levels on Thursday, June 12. For the Nifty Bank, the market wizard expects support at 56,000-56,150 levels and a strong buy zone at 55,750-55,925 levels.
Asian markets
Asian stocks were a mixed batch in Thursday's session after US President Donald Trump said that he will levy trade tariffs on key economies going ahead, while investors continued to look for cues on the US-China trade deal.
Meanwhile, heigtening tensions in the Middle East, weighed on oil prices, affecting investors risk appetite.
The MSCI Asia ex Japan index traded higher by 0.09 per cent or $0.59.
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