Pulse of the Street: Markets on mute amid mixed Q3 earnings

Subscribe to enjoy similar stories. Indian stock markets wrapped up the week largely flat as investors parsed the first batch of December-quarter earnings, finding no clear cues to take fresh positions in the week ahead. The Nifty 50 closed the week at 25,693.85 and the BSE Sensex at 83,556.87, as global volatility eroded investor confidence and triggered profit booking, capping gains through the week.

Sentiment got a mild boost after the commerce secretary on 15 January said the first tranche of the India–US trade deal was nearing finalisation. Separately, easing US–Iran tensions after reports said Washington assured Tehran of no imminent strikes helped soothe investor nerves. Still, buying stayed selective in heavyweights, while broader sentiment remained cautious, experts said.

Metals topped the charts with nearly 5% weekly gains, trailed by IT at 2.7%. Sentiment in tech was boosted by Infosys, which jumped 5.6% on Friday after its better-than-expected results and an upward revision to its full-year revenue guidance. Banks also rose around 2% as mid-cap lenders delivered better-than-expected Q3 prints with improving asset quality and margins.

On the flip side, capital goods, consumer durables and realty remained under pressure, keeping the broader market locked in a narrow range. The cautious tone in domestic markets is also due to the gap between India and its emerging-market peers in foreign investment. South Korea and Taiwan emerged as top gainers, drawing foreign flows for a third straight week.