Sensex ends marginally lower as investors remain cautious amid geo-political tensions
Published on Apr 30, 2025
By IANS
- MUMBAI — Stock-specific trading activity continued to dominate the Indian
stock market for the second consecutive session on Wednesday, as both the
benchmark indices remained in a narrow range.
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- Investors showed caution ahead of the trading holiday on
Thursday (May 1) for Maharashtra Day, leading to subdued trading activity.
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- The Sensex opened higher by around 80 points at 80,371
but spent most of the day consolidating within a tight range. In the final 30
minutes of trading, the index surged to a high of 80,526, up by 237 points.
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- However, it quickly gave up these gains and dropped
sharply to a low of 79,879, a 647-point decline from its intra-day high. The
Sensex eventually closed at 80,024, down by 46 points.
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- The Nifty index experienced a similar pattern, moving in
a range of nearly 200 points. It reached a high of 24,396 before dipping to a
low of 24,199. The Nifty closed with a negligible loss of two points at 24,334.
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- “The Nifty continues to consolidate within a narrow range
as traders preferred to remain on the sidelines ahead of the holiday,” said
Rupak De of LKP Securities.
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- Bajaj Finance and Bajaj Finserv were among the biggest
losers on the Sensex, both dropping over 5 per cent after reporting their Q4
results.
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- Analysts noted that the future growth outlook for Bajaj
Finance did not inspire confidence. Other notable decliners included Tata
Motors and SBI, both shedding around 3 per cent.
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- UltraTech Cement, Tata Steel, and Asian Paints also saw
significant losses on the 30-share index.
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- On the positive side, Maruti Suzuki India saw a strong
rally, gaining more than 3 per cent. Bharti Airtel, Sun Pharma, and Power Grid
Corporation also posted gains of 1-2 per cent.
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- The broader market also ended in the red, with the BSE
MidCap index falling 1 per cent, while the SmallCap index plunged 2 per cent.
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- Sector-wise, the BSE Power and Capital Goods indices both
fell by over 1 per cent, while the Realty index gained more than 1 per cent.
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- “The weakening US dollar and India’s economic resilience
have made the country attractive to global investors,” said V.K. Vijayakumar,
Chief Investment Strategist at Geojit Financial Services.
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- “That said, investors should tread cautiously. After a
rewarding rally, some stocks have surged significantly. It’s a good time to
book partial profits and raise cash levels in the portfolio,” he added.
