Closing Bell: Nifty around 24,000, Sensex falls 589 pts; IT stocks outperform

Market Close | Sensex down 589 points, Nifty below 24050; IT stocks gain

Indian equity indices ended lower on second consecutive session on April 25 with Nifty around 24,000. At close, the Sensex was down 588.90 points or 0.74 percent at 79,212.53, and the Nifty was down 207.35 points or 0.86 percent at 24,039.35.

We wrap up today's edition of the Moneycontrol live market blog, and will be back Monday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Earnings Watch | Tata Technologies Q4 net profit up 20.2% at Rs 188.9 crore Vs Rs 157.2 crore, YoY

IPO Check | Canara Robeco Asset Management files for IPO of upto 49.85 mn shares

Canara Bank, Orix Corp to sell shares in Canara Robeco AMC IPO

Ajit Mishra – SVP, Research, Religare Broking

Markets began the first day of the new derivatives series on a weak note, primarily weighed down by escalating geopolitical tensions between India and Pakistan. After an initial uptick, the Nifty witnessed a sharp decline in the first half; however, a rebound in select heavyweight stocks helped pare some losses later in the session. Eventually, the index settled at 24,080, down by 0.69%. Across sectors, most traded in the red, with realty, pharma, and energy emerging as the top losers. The pressure was even more pronounced in the broader markets, as both the Nifty Midcap and Smallcap indices ended with losses exceeding two percent each.

The heightened geopolitical uncertainty has led investors to adopt a risk-off approach, triggering profit-booking after the recent sharp rally. Furthermore, the markets appeared slightly overstretched following the vertical rise, prompting traders to reduce exposure. On the benchmark front, sustaining above the 23,800 level is crucial for Nifty to retain its positive bias; failure to do so could lead to further profit-taking. Given the prevailing environment, we maintain a cautious stance and recommend a hedged approach for existing positions.

Among sectors, except IT, all other indices ended in the red with media, metal, PSU, telecom, power, oil & gas, realty down 2-3 percent. Broader indices underperformed the main indices with BSE Midcap and smallcap indices falling 2.5 percent each....Read More

Vaibhav Vidwani, Research Analyst at Bonanza

Today, the Indian stock market closed sharply lower amid escalating geopolitical tensions and mixed corporate earnings. The Sensex fell by 588 points (0.74%) to close at 79,212, while the Nifty 50 dropped 207 points (0.86%) to settle near the crucial 24,039 mark. The key driver of the downside was the spike in India-Pakistan tensions following the Pahalgam terror attack, which led to retaliatory firing along the Line of Control and the suspension of the Indus Water Treaty by India. This heightened geopolitical risk spooked investors, especially ahead of the weekend, triggering broad-based selling.

The volatility index surged 6%, reflecting increased investor fear. Small and midcap stocks were hit hardest, with the BSE Small cap and Midcap indices fall signaling concerns over stretched valuations in these segments. Despite the overall weakness, IT stocks outperformed, providing some relief.

Earnings Watch | DCB Bank Q3 net profit up 13.7% at Rs 177 crore Vs Rs 155.7 crore, YoY 

Rupak De, Senior Technical Analyst at LKP Securities

Nifty has slipped after a consolidation on the daily chart, indicating a rise in bearish sentiment. Additionally, the index has fallen below its 200-DMA, signaling a potential re-entry into a bearish trend. Investor sentiment remains weak, with a clear risk-off approach ahead of the weekend, amid rising tensions between India and Pakistan.

In the short term, sentiment is likely to continue driving the market trend, with the possibility of the index heading lower. Support on the lower end, is placed at 23800/23515.

Market This Week

#1 Market posts gains of nearly 1% for the week, up for 2nd straight week

#2 Fall seen on Thursday & Friday brings the weekly gains lower

#3 Nifty Bank gains 0.7% & Midcap index nearly 2% for the week

Earnings Watch | RBL Bank Q4 net profit down 80.5% at Rs 68.7 crore Vs Rs 352.6 crore, YoY

A Moneycontrol survey of eight analysts estimates Reliance’s Q4 revenue to be Rs 2.38 lakh crore compared to Rs 2.37 lakh crore in year-ago period. EBITDA is expected to be around Rs 43,491.6 crore, up from Rs 42,516 crore a year ago...Read More

Currency Check | Rupee closes lower at 85.44

Indian rupee ended 17 paise lower at 85.44 per dollar on Friday versus previous close of 85.27.

Market Close | Nifty below 24,050, Sensex falls 589 pts; IT stocks outperform

Indian equity indices ended lower on second consecutive session on April 25 with Nifty around 24,000.

At close, the Sensex was down 588.90 points or 0.74 percent at 79,212.53, and the Nifty was down 207.35 points or 0.86 percent at 24,039.35. About 682 shares advanced, 3138 shares declined, and 115 shares unchanged.

Among sectors, except IT, all other indices ended in the red with media, metal, PSU, telecom, power, oil & gas, realty down 2-3 percent.

BSE Midcap and smallcap indices shed 2.5 percent each.

Axis Bank, Adani Enterprises, Shriram Finance, Adani Ports, Trent were among biggest losers on the Nifty, while gainers included SBI Life Insurance, Infosys, TCS, Tech Mahindra, IndusInd Bank.

Brokerage Call | Jefferies maintains ‘buy’ rating on SBI Life, target price at Rs 2,000

#1 Q4 VNB rose 10 percent YoY to Rs 1,700 crore, driven by improved product mix & term insurance

#2 APE growth was softer at 2 percent due to slower ULIPs

#3 Management expects early double-digit sales growth, aiding re-rating

#4 VNB estimates raised by 7 percent

Brokerage Call | Nomura keeps ‘buy’ rating on Tech Mahindra, target price at Rs 1,630

#1 Q4 margin beat

#2 Turnaround continues with strong deal pipeline

#3 Steady progress toward mid-term goals

Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan

Indian Rupee declined on weak domestic markets and geopolitical tensions. Positive US Dollar also weighed on the Rupee. existing home sales data from the US missed forecast.

We expect Rupee to trade with a negative bias amid heightened geopolitical tensions and weak tone in the domestic markets. However, persistent FII inflows overall weakness in the US Dollar may prevent a sharp fall in the Rupee. USDINR spot price is expected to trade in a range of Rs 85 to Rs 85.90.

Unbundling of charges is key to understand the needs of revenue sufficiency of clearing corporations...Read More

Brokerage Call | Nomura maintains ‘buy’ rating on SBI Life, target price at Rs 1,800

#1 Total/individual APE growth at 21 percent/7 percent YoY in Q4 vs 13.2 percent/12.5 percent in Q3FY25

#2 VNB margin expanded 220bps YoY; VNB grew 10 percent YoY

#3 Margin gains driven by product mix changes & rider attachment

#4 Outperformed peers (HDFC Life/IPRU Life)

Earnings Watch | Shriram Finance Q4 net profit at Rs 2,139.4 crore

Results on April 26 | SBFC Finance, Ugro Capital, Vakrangee among others to declares results on April 26

IDFC First Bank, Bhansali Engineering, Indiabulls Enterprises, India Cements, Mangalore Refinery and Petrochemicals, SBFC Finance, Ugro Capital, and Vakrangee will announce their quarterly earnings on April 26.

Brokerage Call | Nomura keeps ‘buy’ rating on Macrotech Developers, target price at Rs 1,450

#1 Q4 revenue & adjusted EBITDA were slightly below estimates

#2 Margin diluted QoQ, depending on project mix

#3 Q4FY25 OCF at Rs 2,300 crore

Sensex Today | Nifty Pharma index down 2%; Biocon, Granules India, Ajanta Pharma, among top losers

Earnings Watch | Cholamandalam Investment Q4 net profit up 18.2% at Rs 1,259 crore Vs Rs 1,065.2 crore, YoY

Ajay Garg, CEO, SMC Global Securities

Despite Nifty opening at a higher level on Friday, the geopolitical tensions with the neighbouring nation have dropped the index by more than 1%. In the last few days, Nifty has also revived to 24,000 with the FII buying, banking stocks rally, and expectations of a positive outcome from US-India trade talks. Along with the geopolitical tensions, the profit booking by the investors is also adding to today’s market drop. India VIX has also surged by over 5% on Friday, signalling higher market volatility and investors’ cautious outlook. Both Nifty Midcap 100 and Nifty Smallcap 100 are trading in the red zone, signalling broader sell-off in the market, cooling down of valuations and muted March quarterly earnings.

However, the FII took the net buying position of Rs 8,250 crores on Thursday in the Indian market. Today, the rupee opened 8 paise stronger at Rs 85.19 after closing at Rs 85.27 against the US dollar on Thursday. Following these positive cues and Asian markets rally due to the expectation of easing tariffs on China, the Indian market can also revive soon. In this current falling scenario, the high-risk investors can consider the “buying the dip” strategy to profit from the potential market gains.

Markets@3 | Sensex down 460 points, Nifty below 24100

The Sensex was down 461.00 points or 0.58 percent at 79,340.43, and the Nifty was down 167.70 points or 0.69 percent at 24,079. About 551 shares advanced, 2898 shares declined, and 90 shares unchanged.

Brokerage Call | Jefferies retains ‘underperform’ rating on Tech Mahindra, target price at Rs 1,260

#1 Q4 revenue missed, but margin & profit beat estimate

#2 Strong deal wins support FY26 growth

#3 Margin expanded 210 bps in FY25, the goal of 530 bps expansion by FY27 seems ambitious

#4 At 27x FY26 PE ratio, stock is seen as fully valued, with a 20 percent premium to Infosys

Earnings Watch | Bank Of Maharashtra Q4 net profit up 22.6% at Rs 1493 crore Vs Rs 1218 crore, YoY

The need to increase nuclear capacity has become pressing as India seeks to replace carbon-intensive coal with cleaner sources of energy...Read More

Currency Check | Rupee trades lower at 85.46

Indian rupee is trading 19 paise lower at 85.46 per dollar versus previous close of 85.27.

Stock Markets LIVE Updates | RBL Bank shares trade lower ahead of Q4 results

Sensex Today | BSE Bank index down 1%; Yes Bank, Axis Bank, Federal Bank, among top losers

Earnings Watch | Orient Electric Q4 net profit at Rs 31.3 crore Vs Rs 12.8 crore, YoY

Earnings Watch | Hindustan Zinc Q4 net profit up 47.3% at Rs 3,003 crore Vs Rs 2,038 crore, YoY

Earnings Watch | Atul Q4 net profit at Rs 130 crore Vs Rs 59 crore, YoY

Earnings Watch | Motilal Oswal Q4 net loss at Rs 65 crore Vs profit of Rs 723 crore, YoY

Trivesh, COO Tradejini

Gold prices shinning brighter with sharp rally, reaching its all time high on April 22nd, and even briefly breached the psychological Rs 1 lakh level. When compared to last Akshaya Tritiya on May 10, 2024 gold was hovering at Rs 77,800, and this year's levels are near Rs 95,290 giving 32% return in just one year. Though the shift may appear sensational, it might not indicate a trend shift. The recent decline appears to be a healthy correction, and we have been in an extended rally. However, jewellers are concerned that if prices hover around Rs 1 lakh before Akshaya Tritiya, demand may fall by 40–45%.

On other hand Jewellers are trying to mitigate this drop by providing different options, including lightweight jewellery, gold exchange options, and advance booking schemes. Some jewellers, have expanded their affordable segment wedding collections to include 10 to 18-carat jewellery, as a lot has changed among customers. These adaptive strategies show how the industry is responding to price-sensitive buyers while keeping the cultural sentiment around gold alive. Outlook-wise, gold remains a key portfolio stabilizer amid economic uncertainty.

Sensex Today | BSE IT index up 0.5%; recovers 530 points from day's low

Stock Market LIVE Update | CRISIL drops most in 3 years outpacing sensex

CRISIL fell 5.7%

Results on April 26 | India Cements, IDFC First Bank, MRPL among others to declares results on April 26

IDFC First Bank, Bhansali Engineering, Indiabulls Enterprises, India Cements, Mangalore Refinery and Petrochemicals, SBFC Finance, Ugro Capital, and Vakrangee will announce their quarterly earnings on April 26.

Stock Market LIVE Update | IT is the only gainer amid other sectors in red

At 2:30 S&B BSE IT was at a gain of 0.73% while Nifty IT was at a gain of 1.25%

Axis Capital cut the rating of ACC shares to 'Reduce' from 'Add', with a target price of Rs 2,050 apiece....Read More

Q4FY25 Earnings | Lal PathLabs Q4 Earnings Snapshot

# Net income at Rs 1.55 billion, up 83% YoY

# Revenue stood at Rs 6.03 billion, up 11% YoY

# Total costs came in at Rs 4.75 billion, up 7% YoY

# Dividend declared at Rs 6 per share

India may allow up to 49% foreign ownership in nuclear power plants: Reuters

India may allow up to 49% foreign ownership in nuclear power plants: Reuters

Q4FY25 Earnings | Maruti Suzuki Q4 Earnings Highlights

Maruti Suzuki Q4 Earnings Highlights

#Final dividend aggregating to Rs 42.4 billion

#Q4 total costs at Rs 373.3 billion, up 8.6% YoY

#Q4 net income at Rs 37.1 billion

#Dividend per share at Rs 135

#Q4 revenue at Rs 406.7 billion

Stock Market LIVE Update | Mohit Industries – Installation of 3 MWDC solar power project

Results Today | Reliance Industries, Maruti Suzuki India, RBL Bank, among others to announce Q4 earnings today

Reliance Industries, Maruti Suzuki India, RBL Bank, Tata Technologies, L&T Finance, Cholamandalam Investment and Finance, DCB Bank, Force Motors, Hindustan Zinc, Dr Lal PathLabs, Lloyds Metals and Energy, Bank of Maharashtra, Mahindra Lifespace Developers, Motilal Oswal Financial Services, Oracle Financial Services Software, Poonawalla Fincorp, Rossari Biotech, Shriram Finance, Tejas Networks, Zenotech Laboratories, and Zensar Technologies will release their quarterly earnings on April 25.

Markets@2 | Sensex down 250 pts, Nifty at 24150

The Sensex was down 254.26 points or 0.32 percent at 79,547.17, and the Nifty was down 101.35 points or 0.42 percent at 24,145.35. About 541 shares advanced, 2874 shares declined, and 98 shares unchanged.

Sensex Today | Suven Pharma gets final approval from DoP for foreign investment

Earnings Watch | VST Industries Q4 net profit down 40% at Rs 53 crore Vs Rs 88.2 crore, YoY

Stock Markets LIVE Updates | Escorts Kubota to increase tractor prices from May 1