On the domestic front, Infosys led earnings-related news after the company reported a strong first-quarter performance, raising the lower end of its FY25 revenue guidance. However, its shares traded mildly lower in early deals, reflecting cautious investor positioning.
Dr Reddy’s Laboratories, which reported Q1 profits slightly below market estimates due to margin pressures in the US market, and Tata Consumer Products, which saw margin pressures from rising tea and coffee input costs despite a healthy rise in net profit, were also in focus.
Other companies such as Coforge, Persistent Systems, and Bajaj Housing Finance reported robust Q1 results, adding to the overall positive sentiment on corporate earnings.
Despite these positives, early volatility persisted. Technical analysts pegged immediate support for Nifty in the 25,100–25,200 range, with resistance near 25,350. For the Sensex, key support was seen at 82,000 and resistance around 83,000.
Foreign institutional investors remained cautious, while domestic institutional investors continued to support the markets through net buying.
In the session ahead, traders will closely monitor further developments from PM Modi’s UK visit, more Q1 earnings releases including from Bajaj Finance, Nestle India, and SBI Life, and any fresh cues from global markets.
According to leading analysts, the market is expected to trade in a range-bound manner in the near term, with earnings and macro developments providing direction. The India–UK FTA and global trade momentum may offer further tailwinds if supported by stable corporate performance.
