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Indian benchmark indices continued their downward trajectory for the second consecutive session on April 25, weighed down by losses in the pharma, auto, and metal sectors. Despite the broader market weakness, IT stocks emerged as the lone bright spot, helping trim some of the day’s losses.
As of 2:55 pm, the BSE Sensex dropped 495.25 points or 0.62% to settle at 79,306.18, while the NSE Nifty shed 178.15 points or 0.73% to trade at 24,068.55. Broader markets took a sharper hit, with the Nifty Midcap 100 and Smallcap 100 both slumping 2.2%. Market breadth remained negative, with only 539 stocks advancing against 2,907 declines.
Among sectoral indices, 12 of 13 were in the red. Pharma, PSU Bank, Energy, Oil & Gas, Realty, Infra, and Auto sectors saw declines ranging from 1.5% to 2%. Nifty IT stood out, gaining over 1%, led by TCS, Infosys, Persistent Systems, and Coforge.
Top Laggards and Gainers
On the Nifty 50, Adani Enterprises, Axis Bank, Adani Ports, Shriram Finance, and Trent were the worst performers. On the flip side, SBI Life Insurance surged over 5% post its Q4 earnings, supported by upbeat brokerage commentary. Nomura and Motilal Oswal maintained bullish targets of ₹1,800 and ₹2,000, respectively.
Maruti Suzuki lost over 2% after reporting a weaker-than-expected 4% drop in net profit to ₹3,711 crore, missing analyst estimates of ₹3,852 crore. The automaker announced a final dividend of ₹135/share for FY24.
Axis Bank also came under pressure, falling over 4% after posting a marginal YoY profit decline to ₹7,118 crore for Q4FY25, though total income rose by 6% YoY to ₹38,022 crore.
Global Cues and Market Sentiment
Despite the ongoing dip, market sentiment remains buoyed by foreign institutional investor (FII) inflows, totaling ₹29,513 crore over the past week. Analysts suggest this could limit bearish sentiment in the near term.
Adding to the positive global outlook, US Treasury Secretary Scot Bessent hinted that India may become the first nation to ink a bilateral trade pact with the US—potentially strengthening economic ties and boosting investor confidence.
However, geopolitical concerns linger following a recent terror attack, and investors remain cautious about India’s potential response and its broader implications.
Technical View
Sameet Chavan of Angel One maintains a bullish technical outlook, noting that Nifty has crossed its February–March highs and is holding above the 200-day SMA. Key resistance levels are placed at 24,400 and 24,550, while the 24,000 zone now serves as strong support. Chavan advises traders to adopt a buy-on-dips strategy.
Disclaimer:
The views and investment recommendations mentioned are those of individual analysts and brokerage firms. Jobaaj Media does not endorse any investment advice. Readers are advised to consult with certified financial professionals before making any investment decisions.
