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Sunil Subramaniam highlights short-term caution in IT and pharma due to tariffs but remains long-term bullish. Realty favors premium housing; rate cuts may boost loans. Capital goods sector shows selective value.

Arvind Sanger, Managing Partner at Geosphere Capital Management, suggests that President Trump s tariff threats are likely negotiation tactics rather than economic destruction tools, which keeps the market optimistic. The market s rise this year is broader-based, signifying widespread economic confidence. Fed minutes indicate inflation has plateaued, and future actions depend on economic data and geopolitical developments.

​The SBI and HDFC Bank will be approaching the profit numbers of Reliance. So, the absolute number of money which is going to be made by financials, which people will then wake up to and see the rate of changes in favour of financials as opposed to erstwhile leaders of IT which currently will have a good time because of all this mess going on in AI, people will need them.

Another key factor is the maturing investor mindset, where market cycles are better understood, leading to fewer panic-driven redemptions. Mutual funds, in particular, have gained significant trust, supported by investor awareness initiatives that emphasize long-term wealth creation.

Analysts predict slower earnings growth for over 70% of Nifty companies by FY26, following a weak third quarter. Heavyweights like ONGC, HDFC Bank, and SBI are seeing significant downgrades, potentially affecting market valuations and indicating prolonged caution.

The rupee gained 19 paise, trading at 86.79 against the US dollar on Thursday. The US dollar index was down, while Brent crude prices fell. Domestic equities showed a muted trend with foreign institutional investors offloading equities worth Rs 1,881.30 crore. India s economy expects strong momentum in the second half of the year.

But I do think that the grind is almost at the end and there should be some stability in the markets because underperformance along with some positive data points are suggesting that we are very-very near to a good revival in the market.

PI Coin Listing Today: Pi Network s Open Mainnet is set to launch on Thursday, opening the door for external transactions and potentially listing Pi Coin on major exchanges like Binance and OKX. This development has already driven Pi Coin s price up and may lead to further increases if exchange support is confirmed.

On Wednesday, gold and silver ended lower in both domestic and global markets. Gold April futures closed at Rs 85,910 per 10 grams, down 0.24%, while silver March futures settled at Rs 96,406 per kg, falling 0.46%. On Thursday, the US Dollar Index (DXY) hovered around 107.07, slipping 0.11 points or 0.10%.

The Nifty IT index was trading 0.15 per cent down at 40863.5.