synopsis
Indian stock markets opened in the red on Thursday following a hot seven-day rally amid mixed global cues and a weekly expiry session.
Benchmark indices traded lower, while the broader markets held their ground.
At 9:40 am IST, the benchmark Nifty was down 0.2% at 24,264, while the Sensex fell 0.2% to 79,920.
Data from Stocktwits showed that sentiment around the Nifty 50 stayed 'bullish.'

Sectorally, real estate, consumer durables, and select financial stocks were under pressure.
Tata Consumer Products' stock price dropped 3% despite fiscal fourth-quarter consolidated net profit jumping 59% to ₹345 crore, as analysts fret over rising tea costs impacting margins.
Eternal's stock dropped 2% following the resignation of Rakesh Ranjan, the chief executive of its food delivery business (formerly Zomato). Ranjan stepped down after two years, and CEO Deepinder Goyal will now oversee the operations.
Investors cheered Persistent Systems' good fourth-quarter earnings, driving the stock price up 4%. CEO Sandeep Kalra reiterated the company's guidance of $2 billion in annual revenue by the financial year 2027.
LTIMindtree fell over 1% despite a solid earnings show in its fourth quarter. The IT firm reported a consolidated net profit of ₹1,129 crore, marking a 2% year-on-year (YoY) growth and a 10% increase in revenue from operations to ₹9,772 crore.
Syngene dropped 9% in early trade after the company posted a 3% fall in profit for the fourth quarter. CEO Peter Bains anticipates revenue growth in the early teens across all service areas.
Bajaj Finance opened at a record high on Thursday. The board of India's largest non-banking financial company will meet next week to discuss an interim dividend, stock split, and bonus issue. The company's last bonus was issued in September 2016.
There is a heavy rush on the earnings radar. Investors will monitor HUL, Axis Bank, Tech Mahindra, Nestle, SBI Life, Mphasis, Laurus Labs, Cyient, ACC, and L&T Tech as they report quarterly numbers on Thursday.
SEBI-registered research analyst Ashish Kyal noted on Stocktwits that as long as the Nifty index remains above the key Gann level of 24,103, it holds the potential to move further towards 24,728. Gann levels are special price points that help traders predict where a stock or index might stop falling or rising and possibly change direction.
Another analyst, Bharat Sharma, shared that ATM straddle premiums are moderately fair at around 130, indicating room for market movement if volatility does not diminish in the first hour of trading.
Sharma also said that according to open interest data, significant call writing is seen at strike prices 24,300, 24,400, and 24,500, which could act as resistance levels; however, if the market sustains above these, a short covering rally is possible.
He added that strong support levels are identified at 24,200, 24,100, and 24,000, making it likely for the index to close between 24,200 and 24,300, though non-directional moves near expiry cannot be ruled out.
Globally, the relief rally is losing momentum. Asian markets were trading mixed, while U.S. equity futures traded lower following mixed signals from the Trump administration on its China tariff plans.
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