Indian Markets Subdued: Nifty Holds 25,500, Akzo Nobel India Surges On JSW Paints Acquisition

Broader indices outperformed, and sectoral gains were led by metals, PSU banks, and IT stocks.

Indian markets opened on a subdued note, with the Nifty index holding above 25,500 levels. 

On Thursday, U.S. President Donald Trump hinted that a U.S.-India trade deal could be on the horizon, saying an agreement "may be coming soon." 

At 9:45 a.m. IST, the Nifty 50 traded flat at 25,543, while the Sensex was at 83,711. Broader markets outperformed, with the Nifty Midcap and Smallcap indices rising over 0.5%

The retail sentiment on Stocktwits for Nifty remained ‘bullish’. 

Sectorally, most of the sub-indices held firm, with significant gains in metals, PSU banks and IT stocks.

Akzo Nobel India shares surged 6% after inking a deal with JSW Paints for nearly ₹8,986 crore. JSW Paints will acquire up to 75% of the shares in Akzo at ₹2,762.05 per share, which translates to a 16% discount to the closing price on Thursday. 

Mahindra Lifespaces shares rose over 1% after being appointed as the preferred developer for a redevelopment project in Mulund (West), Mumbai

Western Carriers rose over 3% after winning logistics contracts worth 230 crore. And Power Mech shares gained nearly 2%, driven by a solar power plant project win 

From a technical standpoint, SEBI-registered analysts on Stocktwits shared the trade setup. 

Analyst Ashish Kyal observed that the momentum in Nifty remains strong, but he suggested that it's preferable to buy on dips, as the risk-reward ratio is not favourable in the event of a gap-up opening. An entry on dips to 25,480 on a positive reversal could indicate an opportunity for a move to 25,650, with 25,360 serving as support. For those holding existing positions, he advises trailing the stop-loss using the prior day's low.

Sameer Pande pegged Nifty support between 25,500 and 25,200, with resistance at 25,800.

Globally, Asian markets traded higher, while crude oil prices posted modest gains amid easing geopolitical concerns. 

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