Taking Stock | Sensex, Nifty end flat as border tensions, Bajaj Finance guidance weighs on index

markets

Benchmark indices Sensex and Nifty 50 ended a volatile trading session nearly flat amid lingering geopolitical concerns and a cautious corporate guidance by Bajaj Finance.

At the close of trade, Sensex slipped 0.06 percent, or 46.14 points to settle at 80,242.24, while the Nifty edged lower by 0.01 percent or 1.75 points, to end at 24,334.20.

The market sentiment was dampened by the escalation in tensions with Pakistan, and a disappointing forward outlook from Bajaj Finance. Indian equities have lagged behind Asian counterparts in five of the past six sessions, reflecting a loss of momentum. In contrast, the MSCI Asia Pacific Index advanced by 0.4 percent on Wednesday.

Despite a 10 percent rebound from April lows - driven by increased foreign institutional inflows amid a perception of India’s relative insulation from global trade tensions - the risk appetite has diminished following heightened concerns over Indo-Pak relations after a deadly terror attack in Kashmir.

Shares of Bajaj Finance declined by over 5 percent after the company revised its FY26 guidance. It now expects asset under management (AUM) growth of 24 to 25 percent, down from its earlier estimate of 25 to 27 percent. The company also projected a 40 to 50 basis points improvement in cost-to-income ratio, subdued fee income growth of 13 to 15 percent, and credit costs between 1.85 and 1.95 percent. Consequently, it forecasts a return on assets (RoA) of 4.4 to 4.6 percent and a return on equity (RoE) of 19 to 20 percent. Bajaj Finserv also recorded a decline of over 5 percent.

Outlook for May 2

Ajit Mishra – SVP, Research, Religare Broking:

After a muted start, the Nifty traded within a narrow range on the weekly expiry day and eventually settled at 24,334. Sectoral trends were mixed, with realty and pharma showing strength, while energy and banking edged lower. Pressure was more pronounced in the broader markets, as the mid and smallcap indices declined between 0.9% and 2% respectively.

Index	Prices	Change	Change%
Sensex	73,684.10	-1,589.35	-2.11%
Nifty 50	22,852.00	-454.45	-1.95%
Nifty Bank	52,330.10	-1,378.00	-2.57%

Nifty 50 22,852.00 -454.45 (-1.95%)

Fri, Mar 27, 2026

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
ONGC	283.35	13.15	+4.87%

Biggest Loser	Prices	Change	Change%
Shriram Finance	905.40	-50.60	-5.29%

Best Sector	Prices	Change	Change%
Nifty IT	29573.35	-97.95	-0.33%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	8255.75	-325.30	-3.79%

The index is currently in a consolidation phase, facing resistance near the 24,400 marks. However, rotational buying in heavyweight stocks across sectors is helping to cushion the downside.  Looking ahead, markets will take cues from global developments on Friday, particularly US GDP data and corporate earnings. In this context, we continue to recommend a stock-specific trading approach, with a focus on buy-side opportunities.

Rupak De, Senior Technical Analyst at LKP Securities:

The Nifty continues to consolidate within a narrow range as traders preferred to remain on the sidelines ahead of the holiday. However, with the index sustaining above the critical 20 EMA on the daily timeframe, the bullish trend remains intact. Momentum also remains strong, with the RSI holding above 50 and showing a bullish crossover.  On the higher end, resistance is placed at 24,550 — a sustained move above this level could trigger a decent rally in the market. On the lower end, support is seen at 24,200.

Shrikant Chouhan, Head Equity Research, Kotak Securities:

The benchmark indices witnessed profit booking at higher levels. Among sectors, Capital Market, PSU Bank, Media, and Defense indices corrected sharply, shedding over 2 percent, whereas the Reality index gained 1.21 percent. Technically, the market is consistently facing selling pressure near the 24,450/80500 resistance zone, and it also formed a double top pattern on intraday charts, which supports temporary weakness from the current levels.

We believe that as long as the market trades below 24,450/80500, the weak sentiment is likely to continue. On the downside, the market could retest the 24,000/79300 level. Further downward movement may also continue, potentially dragging the index to 23,900/79000. On the flip side, a dismissal of the 24,450/80500 level could change the sentiment. Above this level, the market could move up to 24,600-24700/81000-81300.