The benchmark indices — Sensex and Nifty — ended flat on Wednesday amid growing concern over geopolitical tensions. However, the sustained momentum of foreign fund inflows have held the market from dip.
Sensex ended 46.14 pts or 0.06 per cent lower at 80,242.24, while Nifty 50 slipped 1.75 pts or 0.01 per cent to 24,334.20. The market will be closed tomorrow, May 1, for Maharashtra Day.
The volatility index rose close to 5 per cent to 18.22.
“The broad market performed well this month, driven by reduced tariff risks, a potential US-India trade deal, and strong FII inflows. However, momentum is being capped by rising tensions between India and Pakistan and muted Q4 results,” said, Vinod Nair, Head of Research, Geojit Investments Limited.
According to Nair, the negative bias is expected to persist in the near term, but the long-term outlook remains positive due to the minimal financial impact from the conflict. Any market consolidation is likely to be used as an investment opportunity.
Midcap 100 dipped 0.85 per cent to 54,124.90, while smallcap 100 declined 1.73 per cent to 16,448.85. Sectoral indices showcased mixed trends, PSU Bank and media losing over 2 per cent. Realty index was up close to 2 per cent. Pharma and auto stocks showed resilience.
Kotak Securities’ Shrikant Chouhan, Head Equity Research, said, the benchmark indices witnessed profit booking at higher levels. Among sectors, Capital Market, PSU Bank, Media, and Defense indices corrected sharply, shedding over 2 per cent.
Only 631 stocks advanced and 2,228 declined of all the 2,927 stocks that were traded on the National Stock Exchange. 24 stocks hit 52-week high, while 30 hit 52-week low. About 81 stocks hit the lower circuit, including Gensol.
Top gainers & losers today
Among Nifty 50 components, shares of HDFC Life, Maruti, SBI Life, Bharti Airtel shares ended with 1-4 per cent gains.
Meanwhile, Bajaj twin stocks Bajaj Finserv and Bajaj Finance tumbled nearly 6 per cent. Trent, Tata Motors and SBI followed with 3-5 per cent fall.
IndusInd Bank was in focus after its CEO Sumant Kathpalia resigned with immediate effect on Tuesday.
Bharti Hexacom, IGL, Tube Investments, Apollo Tyres surged 3-5 per cent among midcaps, while First Cry, Sonata Software, MGL gained among smallcap.
Sonata shares lead the gainers on the BSE, with 13 per cent jump. CEAT, Go Fashion, RR Kabel and Schaeffler followed with over 5-8 per cent surge. On the flip side, Praj Industries, Westlife, Shoppers Stop Saregama plunged 6-9 per cent.
In addition, shares of Ambuja Cements, Vedanta, Adani Power, Indian Oil Corp, Ajanta Pharma, Bandhan Bank, Vishal Mega Mart were also in action due to Q4 results. Vishal Mega Mart closed at its upper circuit post stellar Q4 performance
Asian markets: Kospi index and Shanghai SSE Composite settled lower while Tokyo’s Nikkei 225 and Hong Kong’s Hang Seng ended higher.
US equity markets closed higher on Tuesday, with the S&P 500 extending its winning streak to six consecutive days.
Investors will watch out for US manufacturing PMI and Bank of Japan’s interest rate decision tomorrow, said, Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Published on April 30, 2025
