Indian equities are set for another volatile session, with early indications suggesting the Nifty may open below 25,450, extending the sharp correction seen in Thursday’s expiry-led selloff. In the previous session, the Nifty erased the entire week’s gains in a single move, tumbling 350 points, while broader markets mirrored the weakness.
The Nifty Midcap 100 fell 1.6% and the Nifty Smallcap 100 declined 1.27%, underlining broad-based risk aversion.
Global Cues: Crude at $72, Geopolitics in Focus
Escalating US–Iran tensions have pushed crude oil to a six-month high near $72 per barrel, raising concerns over inflation and input costs for India Inc. Energy-sensitive sectors will remain in focus.
US markets closed largely steady, with major indices moving within ±0.50%, offering limited directional support.
Stocks in Focus
Lenskart
Brokerage Motilal Oswal believes valuations, though premium versus peers, are justified given growth visibility. The stock will be closely tracked following the rise in target price.
ABB India
Analysts are reviewing Q4 results, with some projecting potential downside risk of up to 19%, keeping the stock in focus.
Dabur
Nuvama maintains a Buy with ₹605 target price, citing:
High single to low double-digit revenue growth target in FY27
Recovery in beverages and chyawanprash
Margin improvement likely in FY27
ITC
HSBC reiterates Hold with ₹360 target, flagging limited upside triggers despite price hikes in cigarettes.
Industrials & Power Equipment
Media reports suggest potential easing of restrictions on Chinese equipment imports.
BHEL may face pressure on BTG imports
Larsen & Toubro seen relatively insulated due to diversification
Analysts remain positive on Siemens Energy and Hitachi Energy
Cement Sector
Citi highlights heavy capacity additions (~158 mt cement FY25–28E) but sees consolidation limiting pricing downside.
Top picks include:
UltraTech Cement
JSW Cement
Tactical Setup
Immediate support: 25,400–25,350 zone
Resistance: 25,700–25,900 band
Elevated volatility likely to persist amid crude surge and geopolitical risk
With expiry-driven weakness and crude near multi-month highs, market sentiment remains fragile. Defensive positioning and stock-specific trades are likely to dominate the session.
