Stock Market Live Updates Today: BSE Sensex and Nifty50 are likely to see a positive start to the session as crude oil prices dropped below $90 per barrel. Market participants noted that the Nifty continues to move within a broad consolidation band of 23,000-23,550 and is expected to remain range-bound until a clear directional trigger emerges.
Market Overview
Foreign portfolio investors remained net sellers on Thursday, offloading shares worth Rs 1,987 crore. Domestic institutional investors, on the other hand, provided support by purchasing equities worth Rs 4,224 crore on a net basis.
Bank Nifty Outlook
Bajaj Broking noted that the Bank Nifty formed a small bullish candle with a higher high and a lower low, signaling consolidation amid stock-specific action. The index continues to sustain above its 20-day EMA and the recent trendline breakout area, suggesting that the broader trend remains constructive. In the last two sessions, Bank Nifty witnessed profit booking from the neckline of the double bottom breakout area of 55,500-55,600. A decisive move above this level would confirm renewed buying momentum and open the path towards 56,500 levels in the coming weeks. Failure to do so will lead to some consolidation in the range of 53,800-55,600. On the downside, immediate support is positioned at 54,000–53,800, being the low of the current week and key retracement of the recent pullback.
Oil Prices Decline
Oil prices continued to decline on Friday, building on the previous session's losses after US President Donald Trump abandoned plans for military action against Iran, easing concerns about a further escalation in tensions following the recent exchange of attacks between the two countries. Brent crude futures dropped $1.21, or 1.3%, to $89.17 a barrel by 0042 GMT. US West Texas Intermediate (WTI) crude fell $1.23, or 1.4%, to $86.48 a barrel. For the week, Brent was down 4.2%, while WTI registered a decline of 4.4%. Trump, who had earlier warned that Iran could face a severe military response, said on Thursday that the proposed strikes had been called off as negotiations with Tehran had made progress. However, Iran's semi-official Fars news agency reported that authorities in Tehran had not approved the text of any agreement. IG market analyst Tony Sycamore said the market reaction had been rapid and significant, although it remained uncertain whether the latest developments would lead to a lasting breakthrough or prove to be another short-lived period of optimism. Earlier this week, Iran announced the closure of the Strait of Hormuz and warned that vessels attempting to transit the waterway could come under attack. The prolonged disruption in the strait, which typically handles around one-fifth of global oil and liquefied natural gas shipments, has been a major factor supporting elevated crude prices in recent months.
SpaceX IPO and Musk's Trillionaire Status
Investors are also closely watching the highly anticipated stock market debut of Elon Musk's SpaceX. The aerospace company has already set a new record with the largest initial public offering ever completed. The listing raised an unprecedented $75 billion, valuing the rocket and spacecraft maker at $1.77 trillion and making Musk the first person in the world to achieve a net worth exceeding $1 trillion.
Near-Term Volatility Expected
According to Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd., Indian equities are expected to remain volatile in the near term, with sentiment likely to be weighed down by escalating geopolitical tensions in West Asia. The United States has launched fresh strikes against multiple targets in Iran. Markets are closely watching for signs of resolution, which remains the key monitorable in the near term. Brent crude is trading 1% lower at $92/bbl — a stabilization that offers some relief — though sustained de-escalation will be needed before confidence meaningfully recovers. Nifty declined 0.1%, while Midcap 100 and Smallcap 100 fell 0.7% and 0.5% respectively. The Indian rupee also came under pressure, weakening 0.5% against the US dollar to close at 95.76, compared with 95.27 in the previous session. Almost all sectors ended in the red, with banking and pharma the lone exceptions — Nifty Pharma gained over 0.5% as investors rotated into defensives. Nifty IT dropped around 1.5%, extending its losing streak to seven sessions, while defence stocks were the session's top laggard, falling 2.1%. On the domestic policy front, the government launched E85 fuel — an 85% ethanol blend priced ~₹20/litre cheaper than petrol — initially at 48–50 outlets, with plans to scale to 5,000 by end-2027. Additionally, the Ministry of Finance exempted higher ethanol-blended petrol variants from central excise duty — the first major tax incentive for blends above E20, aimed at making higher-ethanol fuel more viable for refiners and OMCs. Together, these measures reinforce India's push to reduce crude import dependence, with sugar and ethanol producers and flex-fuel vehicle manufacturers standing as the most direct beneficiaries.
Nifty Outlook
Bajaj Broking noted that the Nifty daily chart formed an inverted hammer-like candle with a small real body and a long upper shadow, highlighting a pullback after a gap-down opening, but the index failed to sustain at higher levels and gave up most of its intraday pullback to close the session near the open. Nifty on expected lines continues to consolidate in the broad range of 23,000-23,550. We expect the current consolidation to extend until a directional breakout emerges. In the last two weeks, Nifty has rebounded on multiple occasions from the key support area of 23,000-23,200, being the confluence of the 61.8% retracement of the previous pullback (22,182-24,601) and the lower band of the falling channel. Within the consolidation, the index has immediate hurdle at Thursday's low of 23,327; a move above that will open upside towards key resistance of 23,500-23,550 levels, being the 61.8% retracement of the previous decline (24,089-23,070) and the 20-day EMA.
Stock Market Live Updates Today: Crude oil prices extended their decline and fell to the lowest levels in nearly two months after reports of an agreement eased supply concerns. US West Texas Intermediate (WTI) crude dropped 1.9% to $86.08 a barrel, following a 2.6% fall in the previous session. Brent crude slipped 1.5% to $89.08 per barrel after retreating almost 3% overnight. Indian equity benchmarks came under selling pressure in the latter half of Thursday's session as rising geopolitical uncertainties encouraged investors to trim positions and avoid carrying excessive risk overnight. Asian equities advanced on Friday, tracking gains across global markets as optimism grew that a potential peace agreement in the Middle East could be within reach. The improving sentiment weighed on the US dollar and bond yields, while crude oil prices slipped to their lowest levels in two months, helping ease concerns about inflationary pressures.
