Morning Market Report

Indian equity markets continued to face selling pressure, with the Nifty witnessing profit booking from higher levels and closing near the crucial support zone of 25,900–25,950 on the daily charts. The near-term trend remains cautious. A decisive move above yesterday’s high could revive short-term momentum, while a break below 25,850 may invite further downside pressure. Immediate resistance for the index is placed around 26,050 for the day. The Bank Nifty is showing relatively better strength compared to the broader market and is hovering near a strong support area. The overall bias remains neutral as long as the index holds 60,400 on a closing basis. A sustained breakout above 60,900 could shift the trend back to bullish. Short-term traders are advised to keep 60,400 (spot) as a strict stop loss for long positions and avoid aggressive longs until a clear move above 60,900. On the stock-specific front, several companies are scheduled to announce their results today, including Bharat Forge, Biocon, Coal India, HAL, Hindalco, Hindustan Unilever, Indian Hotels, IRCTC, Lupin, ONGC, PI Industries, and Titagarh. In the buzzing stocks space, Lenskart reported a sharp surge in profitability, with net profit jumping 71 times to ₹131.03 crore, which is likely to support positive sentiment. Patanjali also delivered strong numbers, reporting a 60% rise in profit to ₹593.4 crore, indicating healthy operational performance. On the flip side, ARE&M saw profits decline by 53%, while JWL reported a 35.3% drop in profits, which may keep these stocks under pressure. Kernex received an order worth ₹411.17 crore from Banaras Locomotive Works, providing a neutral to mildly positive trigger for the stock. Overall, the market tone remains cautious, with traders advised to focus on key index levels, stay selective in stock-specific opportunities, and manage risk carefully until clearer directional cues emerge.