SOURCE : NEW18 NEWS
Last Updated:April 29, 2025, 15:42 IST
Indian benchmark indices BSE Sensex and Nifty50 opened on a positive note on Tuesday, despite mixed global cues
Stock Market Outlook
Sensex Today: Equity benchmark indices traded within a narrow range on Tuesday, as stock-specific action dominated the session.
The BSE Sensex opened 180 points higher at 80,396 and surged to an intra-day high of 80,661. However, it quickly lost momentum, slipping into the red to a low of 80,122, marking a 539-point drop from the day’s peak. The index later recovered, but traded lacklustre for the remainder of the day, eventually closing 70 points (0.1%) higher at 80,288.
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The NSE Nifty 50 also moved within a tight band of 24,291 to 24,458, ending the day with a modest gain of 7 points at 24,336.
Reliance Industries emerged as the top contributor for the second consecutive session, closing 2.3% higher at ₹1,399 and adding nearly 180 points to the Sensex. Other key gainers included Tech Mahindra, Eternal (formerly Zomato), HCL Technologies, Bajaj Finserv, Infosys, and TCS, all rising between 1–2%.
On the downside, UltraTech Cement and Sun Pharma shed 2% each, while Power Grid Corporation, Kotak Mahindra Bank, NTPC, SBI, and Nestle India also ended in the red.
In the broader market, the BSE MidCap index gained 0.2%, and the SmallCap index edged up 0.1%. Among sectors, BSE IT and Capital Goods rose 1% each, while Metal declined 1%. Power and Bankex dipped 0.5% apiece.
Notably, shipbuilding stocks rallied sharply—Mazagon Dock Shipbuilders hit a fresh lifetime high, with the segment gaining up to 14% on optimism around growth prospects.
Despite the muted index movement, market breadth was slightly negative with around 2,100 declining stocks outpacing 1,800 gainers on the BSE.
‘Sustained FII buying is a strong pillar of support for the market now’
“The Sensex did a Vaibhav Suryavanshi yesterday with a 1005 point spectacular rally amidst the heightened tensions on the border. What message is the market sending? The market has discounted, as everyone else has, that there will be an appropriate response from India to the terrorist attacks, but the market hopes that tensions will not lead to a war which can have very bad consequences. The strong pillar of support for the market now is the sustained FII buying for nine days in a row for a cumulative amount of Rs 34,940 crores. India’s potential relative outperformance compared to other large economies can support the FII inflows and impart resilience to the market. The US treasury secretary Scott Bessent’s remark yesterday that “ I would guess that India would be one of the first trade deals we would sign” is a big positive for India. However, investors should exercise caution in the near-term in the context of the high uncertainty regarding the fallout from the border tensions.”
Views By: Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
Global Cues
The S&P 500 ended a volatile session on Monday virtually flat, pressured by declines in megacap stocks as investors looked ahead to key economic data and major corporate earnings.
Notably, Nvidia fell 2.1% and Amazon slipped 0.7%, weighing on both the S&P 500 and keeping the Nasdaq in the red.
As of 9:36 a.m. Tokyo time, S&P 500 futures were largely flat, showing little change, while Euro Stoxx 50 futures also held steady. In the Asia-Pacific region, Hang Seng futures edged up 0.1%, and Australia’s S&P/ASX 200 gained 0.5%, indicating a cautiously positive start to the trading day.
