Daily Edition
| NIFTY 50 | 24,073 | ▼ 0.02% |
| NIFTY Bank | 57,582 | ▼ 0.30% |
| NIFTY IT | 28,723 | ▲ 0.67% |
| India VIX | 12.88 | ▼ 2.92% |
| SENSEX | 77,187 | ▲ 0.17% |
| USD / INR (ref.) | 96.26 | ▲ 0.06% |
| Gold (COMEX, US$/oz) | 3,996 (≈ ₹1,23,669/10g) | ▼ 1.19% |
| Brent Crude (US$) | 85.35 | ▲ 0.47% |
Provisional cash-market flows: FIIs net sold ₹4,205.56 cr · DIIs net bought ₹2,986.41 cr.
Source: FII/FPI & DII trading activity on NSE, BSE & MSEI, Capital Market segment. Provisional, subject to revision.
Indian Equities End Nearly Flat on Expiry Day
Indian benchmark indices closed largely unchanged on Thursday as weekly derivatives expiry, geopolitical caution around Iran-US tensions, and foreign institutional selling kept broader sentiment subdued.
The NIFTY 50 ended the session at 24,073, down a marginal 0.02%, while the SENSEX settled slightly higher at 77,187, a gain of 0.17%. The divergence between the two indices reflected stock-specific movements rather than any broad directional trend. NIFTY Bank slipped 0.30% to close at 57,582, weighed by selective pressure in financial stocks. In contrast, NIFTY IT outperformed, rising 0.67% to 28,723, as technology counters attracted buying interest.
India VIX, the market's gauge of near-term volatility, declined 2.92% to settle at 12.88, suggesting that options traders are not pricing in significant turbulence in the immediate term. On the flows front, Foreign Institutional Investors (FIIs) were net sellers in the cash segment to the tune of Rs 4,205.56 crore, while Domestic Institutional Investors (DIIs) provided a partial offset with net purchases of Rs 2,986.41 crore. The rupee closed at 96.34 against the US dollar, edging slightly weaker, with demand related to expiring non-deliverable forward (NDF) contracts cited as a contributing factor. Brent crude edged up 0.47% to $85.35 per barrel, keeping energy-cost concerns in the background for import-dependent sectors.
Global Cues: Tech Investment, Fed Signals, Oil
- TSMC Arizona Expansion. Taiwan Semiconductor Manufacturing Company announced an additional $100 billion investment in its Arizona facilities, citing strong confidence in future artificial intelligence demand and raising its capital expenditure guidance. This signals continued large-scale spending in the global semiconductor and AI infrastructure space.
- US Fed Beige Book. The US Federal Reserve's latest Beige Book, a periodic summary of economic conditions across Fed districts, indicated moderate economic expansion alongside easing inflation, though fuel costs and tariff-related input pressures were flagged as ongoing risks for businesses.
- US Banking Sector. Major Wall Street banks reported healthy loan growth and stable credit quality in recent earnings updates, with commentary pointing to a resilient US consumer supported by a firm labour market and wage growth, though geopolitical and macroeconomic uncertainties were noted.
- European Equities. European shares traded slightly lower in Thursday's session as investors weighed corporate earnings and merger activity against the backdrop of Middle East geopolitical tensions, which kept energy cost concerns in focus.
- Gold. COMEX gold declined 1.19% to $3,996 per troy ounce, equivalent to approximately Rs 1,23,669 per 10 grams, as easing US rate-hike fears and some stabilisation in risk sentiment reduced near-term safe-haven demand.
- Indian Government Bonds. Indian government bonds rose on Thursday as oil prices stabilised and US rate-hike expectations moderated, improving the demand outlook for fixed-income instruments. Market participants were also watching for developments related to India's potential inclusion in a global bond index.
- Brent Crude. Brent crude oil edged up 0.47% to $85.35 per barrel, with Iran-US tensions continuing to provide a floor to prices even as broader risk sentiment remained cautious.
Understanding ETFs: What They Are and How They Trade on the Exchange
An Exchange-Traded Fund, commonly known as an ETF, is a type of investment vehicle that pools money to hold a basket of securities — such as shares, bonds, or commodities — in a predetermined proportion. Most ETFs are designed to track an index, meaning they aim to replicate the performance of a benchmark like the NIFTY 50 or the NIFTY IT index. Today, the NIFTY IT index rose 0.67% and closed at 28,723. An ETF that tracks the NIFTY IT index would, in principle, have moved in a similar direction and by a broadly similar magnitude during the same session, because it holds the same underlying stocks in roughly the same weights as the index.
An ETF combines features of a mutual fund and a stock, tracking an index or asset while trading on an exchange throughout the day at market-determined prices.
What distinguishes an ETF from a conventional mutual fund is how and when it is bought or sold. A traditional mutual fund is transacted at the end-of-day Net Asset Value (NAV), which is calculated after markets close. An ETF, by contrast, is listed on a stock exchange — such as the NSE or BSE — and its units can be bought and sold throughout the trading day, just as one would trade shares of any listed company. The price of an ETF unit on the exchange fluctuates during market hours based on supply and demand, though it tends to stay close to the underlying value of the securities it holds. This intraday tradability is one of the defining characteristics of the ETF structure.
Because ETFs are exchange-listed, a buyer needs a demat account and a trading account to transact in them, unlike a regular mutual fund where a folios-based purchase through an AMC or distributor platform suffices. ETFs typically carry lower expense ratios than actively managed funds because they follow a passive, rules-based approach rather than relying on active stock selection by a fund manager. The ongoing costs are therefore generally lower, though investors also incur brokerage charges and applicable taxes when transacting on the exchange, which are factors worth understanding before engaging with this instrument. As with any market-linked product, the value of an ETF can rise or fall in line with its underlying index or asset.
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