Closing Bell: Sensex, Nifty end flat amid volatility; realty outshine

Indian equity indices ended marginally lower in the volatile session on April 30. At close, the Sensex was down 46.14 points or 0.06 percent at 80,242.24, and the Nifty was down 1.75 points or 0.01 percent at 24,334.20.

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

Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ends 2 points lower, while the Sensex was down by 46 points. Among sectors, Capital Market, PSU Bank, Media, and Defense indices corrected sharply, shedding over 2 percent, whereas the Realty 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.

Markets remained subdued for yet another session and ended largely flat. 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-cap and small-cap indices declined between 0.9% and 2%.

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 U.S. GDP data and corporate earnings. In this context, we continue to recommend a stock-specific trading approach, with a focus on buy-side opportunities.

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. This 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. Consequently, any market consolidation is likely to be used as an investment opportunity.

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.

Today, the Indian stock market closed with a modest downside as the Sensex fell by around 46 points and the Nifty ending near 24,334. The market faced pressure primarily due to growing geopolitical tensions along the India-Pakistan border, which weighed on investor sentiment and led to cautious trading throughout the day. Investors are closely watching upcoming corporate earnings, alongside developments in US-India trade talks and geopolitical tensions. Overall, the market is expected to remain volatile, driven by global trade developments and domestic geopolitical factors.

Indian rupee ended 76 paise higher at 84.49 per dollar on Wednesday against Tuesday's close of 85.25.

Indian equity indices ended marginally lower in the volatile session on April 30.

At close, the Sensex was down 46.14 points or 0.06 percent at 80,242.24, and the Nifty was down 1.75 points or 0.01 percent at 24,334.20. About 938 shares advanced, 2828 shares declined, and 141 shares unchanged.

Maruti Suzuki, HDFC Life, Bharti Airtel, SBI Life Insurance, Power Grid Corp were among major gainers on the Nifty, while losers were Bajaj Finserv, Bajaj Finance, Trent, Tata Motors, SBI.

Among sectors, Realty index up nearly 2 percent and Telecom index up 1 percent, while media, PSU Bank indices down 2 percent each and IT, Bank, consumer durables, capital goods down 0.5 percent each.

BSE Midcap index fell 0.7 percent, BSE Smallcap index shed 1.7 percent.

#1 Cut target on slower volumes in Thane

#2 Lower visibility on business development for the Versova land

#3 Weaker than expected velocity of company’s key project in Thane (Jardin)

#4 Expect pre-sales to record approximately 30 percent CAGR over FY26-27 on robust pipeline of new projects

This year, an interesting trend has surfaced on the auspicious occasion of Akshaya Tritiya. People are investing heavily in gold coins. This comes with the backdrop of landmark rise in gold prices. Alongside, the sale of studded jewellery up to Rs 2 lakh has witnessed a spike in demand this season.

On the other hand, young buyers are opting for daily-wear lightweight jewellery over traditional heavy jewellery, which indicates a rise in average ticket size of jewellery pieces between Rs 1 lakh to 2 lakh.

Overall, a rise of approximately 10-15% is witnessed in terms of sales as compared to last year.

QIB – 1.59 times

NII - 0.59 times

Retail – 1.63 times

Employee Reserved - 4.92 times

Overall – 1.33 times

#1 Strong refining performance drives beat, but LPG compensation continues to elude

#2 EBITDA well ahead of our estimate, primarily driven by a strong refining beat

#3 Marketing too benefited from higher inventory gains, while core margins were in-line

#4 GRM improved QoQ from USD 5.6 to USD 9.2, well ahead of our USD 5.9 estimate

#5 Core marketing performance was weaker QoQ on account of lower retail fuel margins

The Sensex was up 192.53 points or 0.24 percent at 80,480.91, and the Nifty was up 48.95 points or 0.20 percent at 24,384.90. About 906 shares advanced, 2493 shares declined, and 96 shares unchanged.

#1 Net income Rs580 crore vs Rs160 crore y/y

#2 Revenue Rs4990 crore, up 28% y/y

#3 Total costs Rs4710 crore, up 25% y/y

#4 Raw material costs Rs3200 crore, up 11% y/y

#1 Net income Rs42.11 crore, down 80% y/y

#2 Gross non-performing assets 2.89% vs. 2.97% q/q

#3 Provisions Rs258 crore, up 6.2% q/q

#4 Operating profit Rs311 crore, down 17% y/y

#1 Net profit Rs 3480 crore vs Rs1369 crore y/y

#2 Revenue Rs39789 crore, up 14% y/y

#3 Total costs Rs34560 crore, up 8.3% y/y

#1 Gland Pharma gets approval for copy of Bausch & Lomb's Vyzulta

The Sensex was up 78.22 points or 0.10 percent at 80,366.60, and the Nifty was up 11.25 points or 0.05 percent at 24,347.20. About 924 shares advanced, 2438 shares declined, and 100 shares unchanged.

QIB – 1.35 times

NII - 0.47 times

Retail – 1.50 times

Employee Reserved - 4.39 times

Overall – 1.14 times

#1 Auto OEMs should report April wholesale volumes later this week

#2 Registration growth has been divergent across segments in April month-to-date

#3 Expect April wholesales to rise 10-16 percent YoY for Eicher Motors (RE)/M&M/TVS

Indian rupee has extended the gains, trading higher by 54 paise at 84.71 per dollar against Tuesday’s previous close of 85.25.

#1 Profit grows 14.5 percent to Rs 251.6 crore Vs Rs 219.7 crore, YoY

#2 Revenue jumps 16.1 percent to Rs 2,174.4 crore Vs Rs 1,873.1 crore, YoY

#1 Profit increases 5.9 percent to Rs 71.7 crore Vs Rs 67.7 crore, YoY

#2 Net interest income soars 34.6 percent to Rs 283.3 crore Vs Rs 210.5 crore, YoY

#1 Profit declines 36.5 percent to Rs 12.4 crore Vs Rs 19.6 crore, YoY

#2 Net interest income drops 21.7 percent to Rs 179.2 crore Vs Rs 228.7 crore, YoY

The Board will meet on May 3 to consider raising equity during FY26 through follow-on public offer (FPO), rights issue, qualified institutional placement (QIP), or any other mode. The Board will also consider the March quarter and FY25 earnings on the same day.

#1 Consolidated volume was softer than what we had expected

#2 Should continue to see volume market share gains

#3 Share of premium products in trade segment rose sharply

#4 Cost-saving initiatives continue to yield results

#5 Target FY27 EV/EBITDA: bull case: 18.5x; base case: 16x; bear case: 10.5x

#6 Lower-Than-expected margins, input prices rise sharply

#1 Close our underweight rating in view of company’s improved pre-sales growth outlook

#2 Robust IP (Office + Retail) business profile, & positive hotel IPO trigger

#3 Lower target, applying 20x FY26 P/E to residential to reflect healthy but moderating growth

#4 The worst is behind

#5 Recent RERA approval for Indirapuram could result in strong pre-sales in Q1 Or Q2

QIB – 1.20 times

NII - 0.34 times

Retail – 1.45 times

Employee Reserved - 4.22 times

Overall – 1.02 times

Adani Enterprises, Adani Ports and Special Economic Zone, Eternal (Zomato), 5paisa Capital, Bondada Engineering, Home First Finance Company India, Jaiprakash Power Ventures Nuvoco Vistas Corporation, RailTel Corporation of India, and SIS will announce their March 2025 quarter earnings on May 1.

Adani Power, Indus Towers, Indian Oil Corporation, Ajanta Pharma, Bandhan Bank, Coromandel International, CRISIL, Equitas Small Finance Bank, Exide Industries, Federal Bank, Godrej Agrovet, Greaves Cotton, Orient Green Power Company, Jindal Steel & Power, JSW Infrastructure, KSB, Paras Defence and Space Technologies, Phoenix Mills, Skipper, Sona BLW Precision Forgings, Sundram Fasteners, Ujjivan Small Finance Bank, and Vedanta will release quarterly earnings on April 30.

#1 Profit drops 10.4 percent to Rs 206.4 crore Vs Rs 230.5 crore, YoY

#2 Revenue falls 6.4 percent to Rs 2,272.6 crore Vs Rs 2,426.8 crore, YoY

The Sensex was up 37.73 points or 0.05 percent at 80,326.11, and the Nifty was up 4.15 points or 0.02 percent at 24,340.10. About 1012 shares advanced, 2294 shares declined, and 110 shares unchanged.

QIB – 1.09 times

NII - 0.34 times

Retail – 1.42 times

Employee Reserved - 4.14 times

Overall – 0.95 times

NPST has migrated from the NSE Emerge platform to the mainboards of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Shareholders have approved the re-appointment of Juby Chandy as Whole-time Director & CFO of the company for a period of two years, effective April 1.

Nitin Kumar Yadav, IAS, Joint Secretary, Department of Commerce, has been appointed as Chairman & Managing Director (CMD) (additional charge) on the Board of the company for a period of one year, effective April 29.

The Board will consider the issue of bonus shares on May 2.

The company’s subsidiary, Strides Pharma Inc, in the US has acquired four approved ANDAs for the US market from Nostrum Laboratories Inc., USA. The portfolio comprises liquids and immediate-release solid orals in therapeutic segments that treat urinary tract infections (UTIs), pain management, allergy symptoms, attention deficit disorder (ADD/ADHD), and narcolepsy. The cumulative market size for the acquired portfolio is $57 million, as per IQVIA 2025 data.

Sumant Kathpalia has resigned as Managing Director & CEO, effective April 29. The Board has sought approval from the Reserve Bank of India (RBI) to constitute a Committee of Executives to discharge the duties, roles, and responsibilities of the CEO for an interim period until a permanent CEO is appointed.

In his resignation letter, Kathpalia stated that he was stepping down in relation to the ongoing derivatives discussion and undertook moral responsibility for various acts of commission/omission.

The company has received approval from the Real Estate Regulatory Authority (RERA) and has launched the residential project ‘The Prestige City – Indirapuram’ in the National Capital Region (NCR). The gross development value (GDV) of the project is estimated at over Rs 9,000 crore.

#1 Earnings inflection story we expected is likely to play out in FY26-28

#2 We estimate a 25 percent CAGR over FY25-28

#3 Our NIM estimate remains unchanged, we had estimated flat NIM in FY26 over FY25

#4 We cut our fee growth marginally

#5 We believe the stock will compound at the rate of growth of EPS

The Sensex was up 27.42 points or 0.03 percent at 80,315.80, and the Nifty was up 7.35 points or 0.03 percent at 24,343.30. About 1017 shares advanced, 2225 shares declined, and 122 shares unchanged.

#1 Profit sinks 91.4 percent to Rs 1.99 crore Vs Rs 23.2 crore, YoY

#2 Revenue grows 1.7 percent to Rs 1,064 crore Vs Rs 1,046.3 crore, YoY

#3 Board appoints Nirvik Singh, Non-Executive Director, as Chairman of the company

#4 BS Nagesh retires as Chairman and Non- Executive Director

Indian rupee has extended the gains as it is trading 22 paise higher at 85.03 per dollar against Tuesday's previous close of 85.25.

Swan Defence and Heavy Industries has signed a strategic Memorandum of Understanding (MoU) with Wheel & Time Shipping Transport Logistics, a specialist in moving heavy and oversized cargo.