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Indian markets are expected to trade in a narrow range on Thursday following mixed global cues. The Sensex gained over 150 points, and Nifty50 closed above 17800 levels. The India Vix was up by 1.15%, and the maximum call OI is placed at 18000, and the maximum Put OI is placed at 17700. On the options front, minor call writing is visible at 17850 then 17950 strikes, while Put writing is seen at 17700 then 17800 strikes. A small-bodied bullish candle was formed on the daily frame, indicating support-based buying at lower zones. Stocks collated from various experts for short-term trading include GNFC, Siemens, BergerPaints, Newgen, GAIL India, Apollo Hospitals, Titan Company, DLF, and Gland Pharma.

The Nasdaq saw gains on Wednesday following strong earnings reports from Microsoft, but the S&P 500 and the Dow both experienced losses due to investor concern over a weakened US economy and the banking sector. Banking stocks were hit hard, as regional bank First Republic hit a record low causing watchdogs to consider devaluing its borrowing ability via the Fed. First-quarter earnings reported a 3.2% contraction in profit for S&P 500 companies. Despite this, the technology sector gained 1.7% and companies such as PacWest Bancorp were successful in beating first-quarter profit expectations.

These resignations, which haven’t previously been reported, happened just days before the SC ordered a committee to probe if regulators had failed to oversee Adani Group. Meanwhile, Sebi is examining whether some transactions between the group and Vinod were properly disclosed.

Meanwhile, the dollar was little changed at 133.63 yen. The market consensus is that Ueda will leave ultra-easy policy settings unchanged on Friday, but no one is willing to rule out another surprise like the shock doubling of the 10-year bond yield band in December.

Gold prices slightly increased due to a weaker dollar as investors anticipate U.S. GDP growth data to gain a hint about when the Federal Reserve might pause its interest rate increases. Spot gold rose by 0.1% to $1,991.14 per ounce, while U.S. gold futures gained 0.2% to $2,000.20. New orders for U.S.-manufactured capital goods fell more than predicted in March, indicating that spending on equipment by businesses was likely to be a drag on economic growth in Q1. Takeover prospects Newcrest Mining announced falling gold production results.

Meta Platforms Inc, the parent company of Facebook and Instagram, is benefiting from investments in AI-friendly hardware and software systems as suggested by CEO Mark Zuckerberg. The social media giant beat Q1 profit and revenue estimates, with ad sales boosted by AI recommendations on Instagram. The company also reported narrowing its annual expenses forecast and anticipates Q2 revenues between $29.5bn and $32bn. Shares surged 12% in after-hours trading, adding $50bn to its market value. Meta has been working on a massive project to upgrade AI capacity to improve its core business while carrying out several expensive overhauls.

SBI Life has reported a net profit of Rs 777 crore for the quarter ended March. The profit was higher by 15% compared with Rs 672 crore in the same quarter of last year.

"The policy is favourable for the shareholders, especially the minority ones," said Nilesh Shah, managing director, Kotak Mahindra AMC. "It gives predictability and clarity to shareholders on how a company will distribute dividends or issue bonus shares."

Vedanta Netherlands Investments BV, a promoter group company, has reduced its stake in Vedanta Ltd from 1.71% as of December 31, 2022, to 0.13% as of March 31, show the data. The sold shares are worth over ₹1,600 crore as per the latest stock price.

Net profit increased to ₹3,158 crore in the January-March quarter up from ₹2,420 crore a year ago, particularly because of a surge in new loans. Number of new loans booked during the quarter grew 20% to 7.56 million from 6.28 million a year ago.