Stock Market Today: Nifty, Sensex Log Weekly Gains Despite Friday's Drop
Your one-stop destination for live updates on the Indian stock markets on April 26.
KEY HIGHLIGHTS
Rupee Closes Weaker Against U.S. Dollar
The local currency closed 2 paise weaker against the U.S. Dollar at 83.35
It closed at 83.33 on Thursday.
Source: Bloomberg
Nifty, Sensex Log Weekly Gains Despite Friday's Drop: Market Wrap
India's benchmark indices ended lower, snapping a six-day rally as Bajaj Finance Ltd., Larsen & Toubro Ltd., and ICICI Bank Ltd. dragged. However, the benchmarks recouped weekly losses following six-day rally.
The NSE Nifty 50 settled 150.40 points or 0.67% down at 22,419.95, and the S&P Sensex ended 609.28 points or 0.82% down at 73,730.16
Intraday, the NSE Nifty 50 declined 0.82% to 22,385.55, and the S&P BSE Sensex fell 0.97% to 73,616.65.
"The unexpected surge of the US core PCE price index, accompanied by weaker-than-forecasted GDP growth and Treasury yield spikes, impacted market sentiments. Investors are concerned about the possibility of a looming recession in the US. Indian market lagged behind its Asian and European peers due to worries over lofty valuations and lackluster Q4 earnings, fuelling expectations of downward revisions for FY25 earnings," said Vinod Nair, head, research, Geojit Financial Services.
The benchmarks recouped losses from last week after rising for six days straight till Thursday. The NSE Nifty 50 index 1.23% and the S&P BSE Sensex rose 0.88% on weekly basis.
Tech Mahindra Ltd., Divi's Laboratories Ltd., Bajaj Auto Ltd., ITC Ltd., and LTIMindtree Ltd. added to the index.
Bajaj Finance Ltd., Larsen & Toubro Ltd., Reliance Industries Ltd., Kotak Mahindra Bank Ltd., and Mahindra & Mahindra Ltd. weighed on the index.
All 12 sectors logged gains this week. The NSE Nifty PSU Bank index rose the most among its peers. The NSE Nifty Finance index was the worst performing sector.
Broader markets outperformed. The S&P BSE Midcap ended 0.83% up and the S&P BSE Smallcap ended 0.27% up.
On BSE, 12 sectors out of 20 advanced, and eight declined. The S&P BSE Consumer Durables rose the most
Market breadth was skewed in favour of the buyers. Around 2,016 stock rose, 1,766 stocks declined, and 131 stocks remained unchanged on BSE.
Ajanta Pharma To Consider Share Buyback
Ajanta Pharma Ltd.'s board is to consider share buyback on May 2.
Source: Exchange filing
Motilal Oswal Q4 Earning Highlights (Standalone, YoY)
Total income at rose 136.09% to Rs 1,490.4 crore from Rs 631.27 crore.
Net profit rose 476.37% to Rs 516.49 crore from Rs 89.61 crore.
Board appointed Navin Agarwal as MD for five years.
Bata India Approves Sale Of Faridabad Land
Bata India Ltd. approved sale of Faridabad land for Rs 156 crore.
Source: Exchange filing
