Closing Bell: Sensex, Nifty flat; IT stocks gain, metal, pharma drag

Indian equity indices ended on a flat note in the volatile session on April 29. At close, the Sensex was up 70.01 points or 0.09 percent at 80,288.38, and the Nifty was up 7.45 points or 0.03 percent at 24,335.95.

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

Markets traded lackluster and ended nearly unchanged in the absence of any significant trigger. After an initial uptick, the Nifty moved in a narrow range and closed flat at the 24,321 marks. Most sectors, except IT, witnessed profit booking, with pharma, metal, and energy among the top losers. The broader indices also remained mixed and ended marginally in the green.

Beyond the strong performance from banking and financials, we are now witnessing rotational buying in heavyweight stocks from other sectors such as IT, energy, and auto. This trend could support the index in maintaining its positive bias. Hence, any short-term pause or consolidation should be viewed as healthy. Participants are advised to continue with a “buy on dips” strategy, focusing on stock selection based on relative strength.

After showing a sustainable upside bounce on Monday, Nifty shifted into a consolidation with small high low range on Tuesday and closed the day higher by 7 points. After opening with a positive note, the market was not able to continue with the morning gains and slipped into minor weakness from the highs in the early part of the session. It later shifted into a range bound action for better part of the session.

A small red candle was formed on the daily chart with minor upper shadow. Technically, this market action indicates failed upside breakout attempt of the hurdle of around 24350-24400 levels. Hence this could mean chances of more consolidation in the short term.

Bullish pattern like higher tops and bottoms is intact as per daily chart and one may expect Nifty to resume its upside momentum after a small consolidation or minor dip. Immediate support is placed at 24150 levels. A decisive move above the resistance of 24450 could open next upside target of 24850 levels in the near term.

The national market exhibited largely range-bound oscillation, as caution prevailed amid geopolitical concerns over border tensions. The sustained inflows from FIIs provided support to market sentiment and restricted further pessimism. Meanwhile, mixed Q4 results have raised the risk of downward revisions to FY26 projections. In combination with apprehensions surrounding potential retaliatory actions, these developments may lead to some consolidation in the near term.

Today, the benchmark indices witnessed a range-bound trading session, with the Nifty ends unchanged while the Sensex was up by 70 points. Among sectors, the Defense index outperformed, rallying 5 percent, while intraday profit booking was seen in select pharma stocks, resulting in a 1 percent decline for the Pharma index.

Technically, the market is consistently facing resistance near the 24,450/80500 resistance zone. A small bearish candle near this important resistance level indicates indecisiveness between the bulls and the bears.

We are of the view that, on the upside, 24,450/80500 would be the immediate breakout level for the bulls. Above this level, the market could rally towards 24,550-24,600/80800-81000. On the other hand, if the market falls below 24250/80000, selling pressure is likely to accelerate. Below this level, we could see a quick correction down to 24,150-24100/79700-79500.

The Indian rupee erased its initial gains in response to geopolitical news. Bargain buying by hedgers and speculators exerted downward pressure on the rupee against the US dollar. Furthermore, the recovery of the dollar index, fueled by easing trade tariff concerns, also weighed on the local currency.

In the near term, the USDINR spot rate finds support at 84.94 and faces resistance at 85.70. Market participants remained cautious during the holiday-shortened week amid ongoing geopolitical uncertainties

Indian rupee ended 22 paise lower at 85.25 per dollar on Tuesday versus previous close of 85.03.

Indian equity indices ended on a flat note in the volatile session on April 29.

At close, the Sensex was up 70.01 points or 0.09 percent at 80,288.38, and the Nifty was up 7.45 points or 0.03 percent at 24,335.95. About 1766 shares advanced, 2012 shares declined, and 125 shares unchanged.

Bharat Electronics, Tech Mahindra, Reliance Industries, Eternal and Trent were among major gainers on the Nifty, while losers were Sun Pharma, ONGC, Coal India, UltraTech Cement and Dr Reddy's Labs.

BSE Midcap and smallcap indices ended flat.

On the sectoral front, capital goods, consumer durables, IT, oil & gas added 0.5-1 percent, while metal, power, telecom, pharma shed 0.5-1 percent.

#1 Key earnings drivers progressed as expected

#2 Higher recoveries drove the beat

#1 See strong earnings compounding potential with multiple levers in place:

a) volumes share gains

b) various revenues drivers

c) cost improvement in play.

#2 The stock is top pick

The company’s product, “Ibuprofen,” has received approval from the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA), China.

The  company informed  about a minor gas leak incident in a single reactor in one of the plant that occurred accidentally on 27th April 2025 at our factory premises located at Village Fatehgarh Channa, Mansa Road, District Barnala, Punjab.

#1 In new EV policy, passenger EV will be given bigger subsidies

#2 Some categories of EV will be waived from toll payment

Indian Rupee declined on recovery in the US Dollar and geopolitical tensions between India and Pakistan. However, positive domestic markets and a decline in crude oil prices cushioned the downside.

We expect Rupee to trade remain under pressure amid uncertainty over trade tariffs and the ongoing geopolitical tensions between India and Pakistan. However, positive tone in the domestic markets and FII inflows may support the rupee at lower levels. Traders may take cues from JOLTS job openings and CB consumer confidence data from the US. USDINR spot price is expected to trade in a range of Rs 84.90 to Rs 85.60.

Indian rupee is trading 19 paise lower at 85.22 per dollar versus previous close of 85.03.

The Sensex was up 117.76 points or 0.15 percent at 80,336.13, and the Nifty was up 14.65 points or 0.06 percent at 24,343.15. About 1612 shares advanced, 1805 shares declined, and 104 shares unchanged.

#1 Profit jumps 8 percent to Rs 233.5 crore Vs Rs 216.2 crore, YoY

#2 Revenue rises 7.3 percent to Rs 1,422 crore Vs Rs 1,325.2 crore, YoY

#1 Profit sinks 48.9 percent to Rs 16.6 crore Vs Rs 32.5 crore, YoY

#2 Revenue grows 8.2 percent to Rs 648.8 crore Vs Rs 599.8 crore, YoY

#1 Net profit down 55% at Rs 956.3 crore versus Rs 2,115.3 crore, QoQ

#2 Revenue up 6% at Rs 9,889 crore versus Rs 9,329 crore, QoQ

QIB – 0.0 times

NII - 0.19 times

Retail – 1.03 times

Employee Reserved - 2.92 times

Overall – 0.25 times

#1 Net profit at Rs34.2 Cr Vs Rs28.2 Cr (YoY)

#2 NII Up 18.90% At Rs103 Cr Vs Rs86.7 Cr (YoY)

#3 Gross NPA At 2.58% Vs 2.67% (QoQ)

#4 Net NPA At 1.30% Vs 1.35% (QoQ)

#5 Gross NPA At Rs18,534 Cr Vs Rs18,230 Cr (QoQ)

#6 Net NPA At Rs9,184 Cr Vs Rs9,060 Cr (QoQ)

#1 Net Profit at Rs100 Cr Vs Rs111.3 Cr (YoY)

#2 Revenue Up 8.2% At Rs2,087.5 Cr Vs Rs1,929 Cr (YoY)

#3 EBITDA Down 4.1% At Rs297.80 Cr Vs Rs310.40 Cr (YoY)

#4 Margin At 14.3% Vs 16% (YoY)

MCX Gold prices have seen impressive growth over the past three years, offering double-digit returns for investors. The first four months of 2025 have marked one of the strongest starts for gold investors in over a decade, with prices rising nearly 25% so far. Many investors choose to buy gold on Akshaya Tritiya, which is considered an auspicious day for purchasing gold as a symbol of wealth and security.

Those who invested in gold during the last Akshaya Tritiya have enjoyed a substantial return of more than 31%. Gold emerged as the ultimate safe-haven asset this year after the tariff war between the USA and China rattled the financial market. Investors flocked towards the yellow metal to seek refuge due to economic uncertainty. Additionally, factors such as central bank purchases, a correction in the dollar index, and geopolitical tensions have bolstered the bullish case for gold.

As gold prices have surged and are approaching overbought levels, we recommend that investors consider buying gold in a staggered manner if prices correct by 5-10%. Currently, the risk-reward ratio is unfavorable at these record levels. In a bullish scenario, if prices hold above 100,000, they could reach 110,000 by the next Akshaya Tritiya. Conversely, we expect prices to consolidate around the 87,000 level on the downside.

QIB – 0.0 times

NII - 0.19 times

Retail – 0.95 times

Employee Reserved - 2.71 times

Overall – 0.23 times

#1 Gross written premium climbs 10.3 percent to Rs 2,576 crore Vs Rs 2,336 crore, YoY

#2 Profit jumps 118.9 percent to Rs 116 crore Vs Rs 53 crore, YoY

#3 Assets under management (AUM) grows 25 percent to Rs 19,703 crore Vs Rs 15,764 crore, YoY

#4 Combined ratio increases to 111.3 percent Vs 108.8 percent, YoY

#1 Profit soars 27.8 percent to Rs 567.1 crore Vs Rs 443.8 crore, YoY

#2 Net interest income zooms 20 percent to Rs 735.8 crore Vs Rs 613.7 crore, YoY

#3 Board recommends final dividend of Rs 5 per share

#1 Profit rises 0.2 percent to Rs 160.7 crore Vs Rs 160.3 crore, QoQ

#2 Revenue increases 3.8 percent to Rs 2,167.8 crore Vs Rs 2,087.9 crore, QoQ

#1 Profit drops 9 percent to Rs 295.8 crore Vs Rs 325 crore, YoY

#2 Revenue grows 21.9 percent to Rs 526.5 crore Vs Rs 431.8 crore, YoY

#3 Board recommends final dividend of Rs 10 per share for FY25

#1 Profit increases 8.6 percent to Rs 154.6 crore Vs Rs 142.4 crore, QoQ

#2 Revenue rises 3.6 percent to Rs 1,341.3 crore Vs Rs 1,294.5 crore, QoQ

The Sensex was up 1.97 points or 0.00 percent at 80,220.34, and the Nifty was down 20.05 points or 0.08 percent at 24,308.45. About 1731 shares advanced, 1529 shares declined, and 126 shares unchanged.

#1 Profit grows 21.6 percent to Rs 190.7 crore Vs Rs 156.8 crore, YoY

#2 Revenue jumps 37.9 percent to Rs 18,229.6 crore Vs Rs 13,222.8 crore, YoY

QIB – 0.0 times

NII - 0.18 times

Retail – 0.87 times

Employee Reserved - 2.49 times

Overall – 0.21 times

#1 Profit declines 17.5 percent to Rs 43 crore Vs Rs 52.2 crore, YoY

#2 Revenue increases 9.6 percent to Rs 2,242.9 crore Vs Rs 2,046.9 crore, YoY

#1 Profit falls 10.85 percent to Rs 9.6 crore Vs Rs 10.7 crore, YoY

#2 Revenue rises 0.1 percent to Rs 199.2 crore Vs Rs 198.9 crore, YoY

The Sensex was up 86.25 points or 0.11 percent at 80,304.62, and the Nifty was up 15.20 points or 0.06 percent at 24,343.70. About 1928 shares advanced, 1261 shares declined, and 123 shares unchanged.

#1 Profit increases 14.2 percent to Rs 85 crore Vs Rs 74.5 crore, YoY

#2 Revenue grows 23.8 percent to Rs 282.7 crore Vs Rs 228.3 crore, YoY

#3 Board recommends final dividend of Rs 7.50 per share

Trishakti Industries secured a contract from Tuaman Engineering to deploy advanced earth moving machines worth Rs 25 Million

for erectioning and commissioning of a steel plant.

#1 Profit drops 4.8 percent to Rs 24 crore Vs Rs 25.2 crore, YoY

#2 Net interest income surges 45.5 percent to Rs 26.8 crore Vs Rs 18.4 crore, YoY

#1 Profit tanks 45 percent to Rs 433.2 crore Vs Rs 788 crore, YoY

#2 Revenue declines 12.5 percent to Rs 1,150.1 crore Vs Rs 1,314.8 crore, YoY

#3 Other income sinks to Rs 63.19 crore Vs Rs 243.8 crore, YoY

QIB – 0.0 times

NII - 0.17 times

Retail – 0.80 times

Employee Reserved - 2.18 times

Overall – 0.20 times

#1 Profit zooms 53.3 percent to Rs 230 crore Vs Rs 150 crore, YoY

#2 Revenue increases 21.6 percent to Rs 3,073 crore Vs Rs 2,527 crore, YoY

#1 Profit soars nearly 9-fold to Rs 117.4 crore Vs Rs 13.24 crore, YoY

#2 Revenue rises 12.7 percent to Rs 143.1 crore Vs Rs 127 crore, YoY

#3 Exceptional gains at Rs 109.9 crore Vs Nil, YoY

#4 Board recommends final dividend of Rs 20 per share

Bajaj Finance, Bajaj Finserv, Bharat Petroleum Corporation, Ambuja Cements, Capital Small Finance Bank, Ceat, Fedbank Financial Services, Five-Star Business Finance, IndiaMART InterMESH, Jana Small Finance Bank, Praj Industries, Punjab & Sind Bank, Schaeffler India, Shoppers Stop, Star Health and Allied Insurance Company, Trent, UTI Asset Management Company, and Vishal Mega Mart will release their quarterly earnings on April 29.

Oriana Power has received a order amounting to approximately  Rs 21.65 crores (inclusive of GST) for the EPC including operation and maintenance of solar power project at Kannur International Airport.