Stock market update: Sensex, Nifty pare gains as investors await Trump-Xi meeting outcome

Indian benchmark indices traded higher but pared some gains from the day’s high on Thursday, as investors awaited the outcome of the high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

As of 10:00 AM, the Nifty50 was trading 75.20 points or 0.32% higher at 23,492.35, while the Sensex was up 117.38 points or 0.16% at 74,726.36.

Among Nifty50 stocks, Cipla, Adani Enterprises and Adani Ports & Special Economic Zone were the top gainers. In the broader market, the Nifty Midcap index gained 0.21%, while the Nifty Smallcap index rose 0.64%.

Sectorally, Nifty Pharma and Nifty Healthcare were the top gainers, supported by buying in healthcare and pharmaceutical counters. On the other hand, Nifty IT declined the most, with technology stocks remaining under pressure.

Investors remained focused on Trump’s meeting with Xi Jinping in Beijing. Market participants are expected to track the outcome for signals on the future direction of U.S.-China relations, global trade sentiment and broader risk appetite.

Q4 results today

Several companies are scheduled to announce their Q4 FY26 results today, including Allied Blenders and Distillers, Alivus Life Sciences, Allcargo Logistics, Apollo Tyres, Caplin Point Laboratories, Centum Electronics, Chalet Hotels, Chambal Fertilisers & Chemicals, Clean Science and Technology, Data Patterns, Dilip Buildcon, EPL, Galaxy Surfactants, Great Eastern Shipping Company, Hindustan Aeronautics, HUDCO, India Glycols, Indian Railway Finance Corporation, JSW Steel, Kalpataru Projects International, Muthoot Finance, NIIT, Prism Johnson, Tata Motors Passenger Vehicles, United Spirits, Vishal Mega Mart, Voltas and Welspun Enterprises.

IPO update

In the primary market, Goldline Pharmaceutical’s IPO entered its final day of subscription. The issue is a book-built offering worth Rs 11.61 crore.

The RFBL Flexi Pack IPO also entered its final subscription day. The Rs 35.33 crore book-built IPO consists of both fresh issue and offer for sale.

Rupee, commodities and stock-specific action

The rupee hit a fresh low of 95.86 against the U.S. dollar, falling 15 paise from Wednesday’s close of 95.71.

In commodities, 24-carat gold rose Rs 10 in early trade, with ten grams trading at Rs 1,62,010. Silver prices rose Rs 100, with one kilogram trading at Rs 3,10,100.

Among stock-specific moves, Kaynes Technology slumped 15% to an intraday low of Rs 3,551 on the NSE after the company reported a decline in Q4 net profit. Sugar stocks also came under pressure after the government imposed a ban on sugar exports until September 30 or further orders. Balrampur Chini Mills fell over 3%, while EID Parry and Bajaj Hindusthan Sugar also traded lower.

Overall, the market remained positive but cautious in early trade, with gains in pharma, healthcare and broader markets offset by pressure in IT stocks and select earnings-linked counters.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Prices and percentage changes are based on early trade data and may change during the session. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Fingo is not liable for any losses arising from the use of this information.