Nifty trades below 24,300; European market opens lower
Indian Market Highlights (24 April 2025)
- Indices Decline:
- Nifty50 fell 0.30% to 24,256.30, trading below 24,300.
- Sensex dropped 0.33% to 79,854.20.
- Mid-Cap flat, Small-Cap up 0.31%. Market breadth positive (2,081 gainers vs. 1,756 losers).
- Sectoral Performance:
- Declines: Realty, FMCG, Consumer Durables (HUL down 3.8%).
- Gains: Pharma, Metal, Media (Sun Pharma, Cipla up).
- Geopolitical Tensions:
- India-Pakistan tensions escalated post-Pahalgam terror attack (26 killed).
- India announced measures: Suspended Indus Waters Treaty, closed Wagah-Attari border, canceled Pakistani visas.
- F&O Expiry: Volatility due to Nifty50 monthly derivatives expiry.
- Macro Update:
- World Bank cut India’s FY25 GDP growth forecast to 6.3% (from 6.7%) citing global uncertainty.
Stocks in Focus
- Top Gainers (Nifty50):
- IndusInd Bank (+3.58%), Grasim (+1.71%), UltraTech Cement (+1.51%).
- Top Losers (Nifty50):
- HUL (-3.8% post-Q4 results), Bharti Airtel (-1.65%), ICICI Bank (-1.34%).
- Key Earnings:
- HUL: Q4 profit up 3.6% YoY; revenue +2.1%. Final dividend ₹24/share.
- Tata Consumer: Profit jumped 52% YoY; revenue +17.4%. Dividend ₹8.25/share.
- Dalmia Bharat: Profit surged 38% YoY; stock up 3.64%.
- Rallis India: Q4 loss widened to ₹32 crore; stock down 4.31%.
- Corporate News:
- Vascon Engineers: Jumped 5.8% on winning ₹85.4 crore construction order.
Global Markets
- Europe: Opened lower as relief rally faded.
- Asia: Mixed amid U.S.-China trade optimism. China open to talks but rejects negotiations under tariff threats.
- South Korea: Q1 GDP contracted 0.1%, signaling economic risks.
- U.S. (Previous Close):
- Dow (+1.07%), S&P 500 (+1.67%), Nasdaq (+2.5%) on trade hopes and Fed Chair Powell’s job security.
- Key Events Ahead: Alphabet, Intel, PepsiCo earnings; U.S. durable goods data.
Key Takeaways
- Domestic Headwinds: Geopolitical risks, F&O expiry, and growth forecast cuts weighed on sentiment.
- Global Cues: Trade tensions and mixed economic data drove cautious trading.
- Stock-Specific Moves: Earnings and sectoral trends dictated performance.
