Taking Stock: Seven-day rally snaps, sending Nifty below 24,300, HUL top index loser

Market Today

Benchmark indices snapped a seven-day gaining streak to end lower with modest losses on April 24, as Nifty 50 closed below 24,300 on selling pressure across sectors, barring metal and pharma.

The Sensex ended down 315.06 points or 0.39 percent at 79,801.43, and the Nifty was down 82.25 points or 0.34 percent at 24,246.70. The broader indices outperformed with BSE Mid and Smallcaps ending flat.

For the April F&O series that expired, Nifty 50 index ended nearly 3 percent higher and Nifty Bank index added 7 percent.

After a volatile first hour, key indices traded in a negative for rest of the session, to close near day's low. Among sectors, FMCG, realty shed 1 percent each, while pharma index added 1 percent. HUL, Bharti Airtel, Eicher Motors, ICICI Bank, Eternal were among major losers on the Nifty, while gainers were IndusInd Bank, UltraTech Cement, Grasim Industries, Tata Motors, Dr Reddy's Labs.

Overnight, Wall Street stocks advanced on Wednesday on revived hopes for progress in the US-China trade dispute and as President Trump eased fears around US Federal Reserve's autonomy with reassurance that he has 'no intention' of firing Chair Jerome Powell.

European indices were trading weak, while Asian indices ended lower as a global relief rally lost steam after mixed cues from Trump 2.0 on China tariff plans.

Also Read Axis Bank Q4 results due today: Dividend, fundraising, more; here's what to expect amid muted earnings

In stock-specific action, Syngene International shares shed 13 percent as weak quarterly profit and guidance, Rallis India shares declined 4 percent on wider losses in Q4FY25, and Samhi Hotels shares gained 11 percent after GIC's plans to acquire 35% stake in three subsidiaries for Rs 752 crore. HUL emerged as the top loser on Nifty 50 on margin pressure in the March quarter earnings, while Nestle ended off highs after a mixed Q4FY25.

Index	Prices	Change	Change%
Sensex	80,983.31	715.69	+0.89%
Nifty 50	24,836.30	225.20	+0.92%
Nifty Bank	55,347.95	712.10	+1.30%

Nifty 50 24,836.30 225.20 (0.92%)

Wed, Oct 01, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Tata Motors	718.35	38.15	+5.61%

Biggest Loser	Prices	Change	Change%
Bajaj Finance	987.70	-11.20	-1.12%

Best Sector	Prices	Change	Change%
Nifty Bank	55347.95	712.15	+1.30%

Worst Sector	Prices	Change	Change%
Nifty PSU Bank	7499.20	-27.55	-0.37%

More than 70 stocks tested 52-week high on the BSE, including JK Cement, GlaxoSmithKline Pharmaceuticals, UltraTech Cement, UPL, Navin Fluorine, SBI Cards, Bajaj Finserv, Bajaj Finance, Laurus Labs, AstraZeneca Pharma, among others. Click here to view full list

Outlook for April 25

Ajit Mishra – SVP, Research, Religare Broking

Markets remained subdued, trading within a narrow range on the monthly expiry day of the April derivatives contracts, and ended slightly lower. After an initial dip, the Nifty moved in a tight band throughout the session and eventually settled at 24,244.70. Mirroring the benchmark, most key sectors closed in the red, with realty and FMCG among the top losers. The broader indices also traded in a narrow range and ended largely unchanged.

This phase of consolidation in the index is in line with expectations and may continue in the coming sessions. Therefore, we recommend maintaining a focus on stock selection and using market dips as buying opportunities. Following their recent outperformance, banking and financial stocks may see some consolidation. Meanwhile, sectors like PSEs, metals, and pharmaceuticals could attract renewed interest, so plan your short-term positions accordingly.

Rupak De, Senior Technical Analyst at LKP Securities

While the short-term sentiment remains strong, signs of fatigue are becoming increasingly evident. A small correction may happen if the index sustains below 22,300. On the downside, the Nifty could decline towards 21,900, while resistance is seen at 24,300 and 24,500.

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