Today’s trading session saw a seesaw ride for the Indian equity market. We began near resistance levels before selling pressure emerged by mid-morning. Pharma and financials bore the brunt of the decline, while autos and consumer staples offered some respite. By the close, the Nifty 50 had slipped 0.33% to finish at 24,379.60 (Google Finance), and the Sensex was down 0.19% at 80,641.07 (Google Finance). Let’s unpack the daily action.
1. Index Moves with bears in the Market
We opened around 24,450 on the Nifty and peaked near 24,509 by 11:15 AM IST before a selloff dragged the index to a low of 24,332 in the afternoon session (Moneycontrol). Despite the late recovery attempt, markets settled in negative territory.
| Index | Close | Change |
|---|---|---|
| Nifty 50 | 24,379.60 | –0.33% |
| BSE Sensex | 80,641.07 | –0.19% |
2. Sector Snapshots
- Pharma: Down ~1.5%, pressured by concerns over potential U.S. tariffs and mixed Q4 earnings (Reuters).
- Financials: Off ~0.7%, with PSU banks declining nearly 5% on worries around rising non‑performing assets (Economic Times).
- Autos: Gained about 1.2%, led by a rally in Mahindra & Mahindra after April sales beat estimates (Business Standard).
- FMCG: Consumer staples edged up 0.5%, supported by rural demand recovery in Q4 results (Livemint).
3. Top Gainers & Losers
Nifty 50 Movers (Top 5)
- Hero MotoCorp (+2.48%) – Posted double-digit April domestic sales growth led by premium motorcycle models and scooter market share gains, reflecting renewed rural demand (Groww (groww.in)).
- Bharti Airtel (+1.84%) – Benefited from robust Q4 ARPU beat and net subscriber additions, driven by 5G rollout momentum and improved rural connectivity. The market remained green for airtel today (Groww (groww.in)).
- Tata Steel (+1.27%) – Spurred by higher global steel prices and reduced import competition after EU extended safeguard duties, boosting margin outlook (Moneycontrol (moneycontrol.com)).
- Mahindra & Mahindra (+1.48%) – Rallied on record April tractor and SUV sales backed by resilient rural demand and strategic pricing measures (Groww (groww.in)).
- Hindustan Unilever (+1.41%) – Saw better-than-expected Q4 margin expansion due to price hikes in personal care and cost efficiencies, with strong rural volume pickup (Livemint (groww.in)).
Top 5 Losers (Nifty 50)
- Adani Enterprises (–2.72%) – Profit booking ahead of Q4 results and lingering concerns over infrastructure order pipelines dampened investor sentiment, and markets declined for Adani. (Groww).
- IndusInd Bank (–2.47%) – Declined on higher-than-expected retail loan slippages in Q4, raising asset quality and provisioning worries (Groww).
- Adani Ports (–2.31%) – Weighed by global shipping disruptions and weaker-than-expected cargo volume forecasts for FY26 (Economic Times).
- Jio Financial Services (–2.19%) – Fell on sequential margin pressure and higher provisioning guidance flagged in Q4 investor discussions (Groww).
- Eternal (–2.32%) – Slipped after conservative Q1 revenue guidance and lower growth projections, pressuring expectations (Groww).
Nifty 500 Movers (Top 5)
Top 5 Gainers:
- CCL Products (India) (+16.94%) – Benefited from robust cocoa butter export orders ahead of the festive season, driving volume growth (MoneyWorks4Me).
- Poly Medicure (+6.71%) – Climbed on upgraded FY26 guidance after strong Q4 volume growth in the medical devices segment (MoneyWorks4Me).
- Chambal Fertilisers & Chemicals (+5.05%) – Rallied due to favorable U.S. tariff conditions boosting export prospects (MoneyWorks4Me).
- Godrej Agrovet (+4.54%) – Gained on steady margin expansion in animal feed operations and strong rural demand (MoneyWorks4Me).
- CEAT (+4.08%) – Surged following strong tyre sales data and the launch of new two-wheeler tyre products (MoneyWorks4Me).
Top 5 Losers:
- Bank of Baroda (–10.27%) – Plunged on fears of elevated slippages and disappointing Q4 credit cost outlook (MoneyWorks4Me).
- Sonata Software (–8.75%) – Declined on weak order visibility and margin pressure from rising wage inflation (MoneyWorks4Me).
- Vedant Fashions (–7.61%) – Fell amid cautious commentary on discretionary consumer spending trends (MoneyWorks4Me).
- Niva Bupa Health Insurance (–6.53%) – Slipped due to higher claim ratios and regulatory premium cap concerns (MoneyWorks4Me).
- Bank of India (–6.23%) – Weakened on large corporate stress recognition and elevated provisioning requirements (MoneyWorks4Me).
4. Money Flow
Foreign institutional investors returned as net buyers, purchasing ₹497.8 crore worth of equities, while domestic institutions added ₹2,788.7 crore to their positions (Moneycontrol). However, broader market breadth remained weak, with only 19 stocks advancing against 31 decliners on the Nifty.
5. Global Cues
Asian peers were mixed: China’s CSI 300 rose over 1%, while Hong Kong’s Hang Seng slipped (~0.3%) amid regulatory uncertainties (Reuters). U.S. futures tracked lower ahead of tomorrow’s Federal Reserve decision, with Dow futures down ~0.7% (CNBC). Oil prices held near four-year lows, and the dollar found support on trade tension concerns (Bloomberg).
6. What’s Next?
- May 7: The U.S. Federal Reserve rate decision will dominate market sentiment (Fed).
- Corporate Triggers: Q4 earnings from HDFC Bank and SBI set to be released post-market (HDFC Bank).
- Economic Data: India’s April industrial production and auto sales figures are due tomorrow (Ministry of Statistics).
External Sources: Google Finance, Moneycontrol, Reuters, Groww, MoneyWorks4Me, Economic Times, Business Standard, Livemint, CNBC, Bloomberg, Federal Reserve.
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