Stock Market Highlights, April 27: Benchmarks snap 5-day winning run; Sensex tanks 609 pts

Stock Market Highlights on April 26: Bajaj Finance and Bajaj Finserv shed up to 8 per cent, dragging the benchmarks

Closing Bell on April 26: After starting higher on Friday, equity markets had an anti-climatic end today dragged by Bajaj Finance, Bajaj Finserv, Nestle India, IndusInd Bank, M&M, Kotak Mahindra Bank, JSW Steel, Maruti Suzuki, HCL Tech, and SBI. 

The markets, thus, snapped their five-day losing streak as these heavyweight stocks tumbled between 1 per cent and 8 per cent.

The S&P BSE Sensex declined 609 points, or 0.28 per cent, to end at 73,730.

The NSE Nifty50, too, ended at 22,420, down 150 points or 0.67 per cent. 

The broader markets, on the contrary, outperformed the frontline indices as the BSE MidCap and SmallCap indices ended 0.83 per cent and 0.27 per cent higher, respectively.

Among sectors, the trend was mixed with the Nifty Financial Sevice index settling 0.74 per cent lower, followed by the Nifty Bank index (down 0.41 per cent). On the flipside, the Nifty Pharma index added 0.92 per cent. 

3:48 PM

Nifty remained under pressure throughout the session as it failed to sustain above the crucial 22,500 levels

The Nifty remained under selling pressure throughout the session as the index failed to sustain above the crucial level of 22500. On the daily chart, a dark cloud cover pattern is observed, indicating a potential bearish reversal. Immediate support is situated at 22300, below which the Nifty could extend its losses towards 22000. On the other hand, the level of 22500 might act as a technical resistance for the Nifty: Rupak De, Senior Technical Analyst, LKP Securities

3:46 PM

Unexpected surge of US core PCE price index, accompanied by slow GDP growth, impacted market sentiments

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 lacklustre Q4 earnings, fuelling expectations of downward revisions for FY25 earnings: Vinod Nair, Head of Research, Geojit Financial Services.

 

3:44 PM

Rupee settles at 83.34 against US Dollar

Rupee settled at 83.3488 against US Dollar

 

3:43 PM

Sector watch: Nifty Consumer Durables led with 1.72% gains, Nifty Financial Services lost 0.89%

Sectorally, Nifty Consumer Durables led with health gains of 1.72 per cent, followed by Media (up 1.18 per cent)  

3:41 PM

Broader indices outperform the benchmark indices

In the broader market, Nifty SmallCap and MidCap indices hit new high, MidCap settled 0.79 per cent higher 

 

3:39 PM

Tech Mahindra, Wipro were among the top gainers on 30-share Sensex

Tech Mahindra, Wipro were among the top gainers on 30-share Sensex, while IndusInd Bank and Bajaj twins were among the major laggards

 

3:38 PM

Nifty 50 ends lower, settles above 22,400-mark

NSE’s Nifty 50 settled 0.67 per cent or 150.40 points lower at 22,419.95 levels

 

3:37 PM

Sensex snaps 5-day winning streak, settles below 74,000-mark

S&P BSE Sensex settled 0.82 per cent or 609.28 points lower at 73,730.16 levels, snapping 5-day winning streak 

 

3:03 PM

Three NBFCs looking to raise funds through dollar bond issue, say bankers

Manappuram Finance, Muthoot Finance and state-run REC are aiming to issue benchmark-sized bonds, which means the issuance will be around $500 million each, the three bankers said. READ MORE

2:55 PM

ICICI Bank to report Q4 results on April 27; here's what analysts expect

Analysts said ICICI Bank's margin trajectory and outlook, and deposit traction will be among the key monitorables. READ MORE

2:43 PM

ALERT:: Shriram Finance Q4 net up 49%; stock trades 3% lower

Shriram Finance today reported a 48.7 per cent YoY growth in standalone profit at Rs 1,945.87 crore for the quarter ended March 2024 as against Rs 1,308.31 crore in the corresponding quarter a year ago. Revenue from operations grew by 22.3 per cent YoY to Rs 9,483.71 crore from Rs 7,756.33 crore.

2:36 PM

This Ashish Kacholia-owned stock has zoomed 92% from March low

Shares of Balu Forge Industries (BFIL) rallied 8 per cent to Rs 296 on the BSE in Friday's intraday trade amid heavy volumes, ahead of its listing on the National Stock Exchange (NSE) on Monday. READ MORE

 

2:25 PM

RIL gets S&P, Fitch thumbs-up as strong earnings keep leverage in check

The oil-to-telecom-and-retail conglomerate's growth aspirations remain intact, it said, adding the company has ramped up investments in the media business in recent months. READ MORE

2:13 PM

ALERT:: Bajaj Finserv Q4 net rises 20%; stock down 4%

Bajaj Finserv today reported 20 per cent YoY growth in net profit at Rs 2,118 crore in Q4FY24 when compared with Rs 1,769 crore in Q4FY23. Net Interest Income rose 25 per cent YoY to Rs 9,495 crore from Rs 7,589 crore.

2:03 PM

GMR Airports Infrastructure shoots up by 8% on healthy business outlook

Shares of GMR Airports Infrastructure shot up 8.2 per cent at Rs 92.34 a piece on Friday’s intraday trade. A combined 3.07 million shares of the company changed hands on the BSE. In comparison the S&B BSE Sensex fell by 0.31 per cent 74,109 levels. READ MORE