Markets End Flat as Financials Drag; Bajaj Finance Slumps 5.5 Per Cent

Market breadth remained negative as 2,228 stocks declined against 631 advances out of 2,927 traded on the NSE.

Market Update at 4:00 PM:  Indian frontline indices ended marginally lower on Wednesday, breaking a two-day winning streak amid increased volatility, as India VIX surged nearly 5 per cent. The BSE Sensex fell by 46 points to close at 80,242, while the Nifty 50 slipped just 2 points to end at 24,334. Trading was range-bound with the Nifty moving within 127 points throughout the session. Despite weakness in broader markets, gains in heavyweights like HDFC Bank and Reliance Industries, both up nearly 1 per cent, helped cushion the fall.

Bajaj Finance dropped 5.5 per cent despite reporting strong Q4 profits, as investors reacted negatively to weak pre-provision operating numbers and rising credit costs. The Nifty Bank Index also declined by over 300 points, or 0.55 per cent, to close at 55,087, contributing to the overall pressure on financial stocks.

The Nifty Realty Index emerged as the top-performing sector, gaining 1.91 per cent and hitting a monthly high. Among Nifty 50 stocks, HDFC Bank, Bharti Airtel, and Maruti Suzuki contributed most to the index’s gains, while Bajaj Finance, SBI, and Bajaj Finserv were the top drags. Broader indices underperformed, with the Nifty Mid-Cap and Small-Cap 100 indices losing 0.85 per cent and 1.73 per cent, respectively.

Market breadth remained negative as 2,228 stocks declined against 631 advances out of 2,927 traded on the NSE. Only 24 stocks touched 52-week highs, while 30 hit 52-week lows. Meanwhile, 37 stocks were locked in upper circuits and 81 in lower circuits.

Market Update at 12:00 PM: Indian stock markets remained largely flat on Wednesday as gains in HDFC Bank helped counterbalance concerns arising from geopolitical tensions with Pakistan.

As of 12:22 a.m. IST, the Nifty 50 was marginally down by 0.05 per cent to 24,347, while the BSE Sensex inched up by 0.04 per cent to 80,320. Early trading saw both indices oscillating between gains and losses of 0.2 per cent.

The Nifty Volatility Index (India VIX) has climbed in five of the past six sessions after the Kashmir attack, signalling heightened market uncertainty. Sector-wise, seven out of 17 declined, while small-cap and mid-cap indices slipped 0.15 per cent and 0.91 per cent, respectively.

Bajaj Finance dropped 5.4 per cent, becoming the worst performer on the Nifty, despite reporting higher quarterly profits, investors' concern over elevated credit costs and weak pre-provision earnings. In contrast, HDFC Bank gained 1 per cent, providing some resilience to the broader indices.

Market Update at 10:00 AM: Indian markets opened in the red on Wednesday, pressured by geopolitical concerns involving Pakistan, while Bajaj Finance shares declined despite reporting an increase in its fourth-quarter earnings.

As of 9:19 a.m. IST, the Nifty 50 slipped 0.2 per cent to 24,291, and the BSE Sensex was down 0.15 per cent at 80,179.9.

Nine out of the 13 key sectoral indices were trading lower. Broader market indices also saw selling pressure, with the Nifty Small-cap and Nifty Mid-cap indices falling 1.3 per cent and 0.6 per cent, respectively.

Bajaj Finance dropped 5 per cent, as brokerages highlighted concerns over higher credit costs and muted pre-provision operating profit, despite the lender reporting improved quarterly earnings.

Meanwhile, IndusInd Bank lost 3 per cent following the sudden resignation of CEO Sumant Kathpalia. His exit comes amid a broader leadership shake-up after derivative accounting issues impacted the bank’s financial standing.

Pre-Market Update at 8:00 AM: On Wednesday, the domestic equity market benchmarks, Sensex and Nifty 50, are likely to begin on a cautious note, influenced by mixed signals from global markets. While Asian stocks showed a mixed performance, the US stock market closed higher overnight, with the S&P 500 marking its sixth consecutive day of gains.

At 7:45 AM, at around the 24,355 mark, the Nifty futures were trading at a discount of about 75 points over their previous close, suggesting a slightly positive opening for the Indian stock market indices.

U.S. stocks finished on a strong note Tuesday as optimism grew around President Donald Trump’s ongoing tariff talks. The Dow Jones Industrial Average advanced by 300.03 points (0.75 per cent) to settle at 40,527.62. The S&P 500 rose by 32.07 points (0.58 per cent) to close at 5,560.82, while the Nasdaq Composite moved up by 95.19 points (0.55 per cent) to end the session at 17,461.32.

US Treasury Secretary Scott Bessent mentioned that several key trading partners have presented “very good” offers to avert US tariffs, with India expected to be among the first to finalise an agreement. He also noted that China’s recent decision to exempt certain American products from its retaliatory tariffs indicates a willingness to ease tensions between the two largest economies in the world.

Asian markets showed a mixed trend on Wednesday as investors awaited key economic data releases from the region. Japan’s Nikkei 225 edged up by 0.14 per cent, with the broader Topix index rising 0.5 per cent. In contrast, South Korea’s Kospi slipped 0.2 per cent, while the Kosdaq posted a 0.25 per cent decline.

Gold prices edged lower as easing trade tensions between the United States and its trading partners reduced the metal’s appeal as a safe-haven asset. Spot gold slipped by 0.3 per cent to  USD 3,332.99 per ounce.

Crude oil prices also moved lower as the ongoing US-China trade conflict led investors to trim their global demand growth forecasts. Brent crude futures declined by 0.4 per cent to  USD 65.61 per barrel, and US West Texas Intermediate (WTI) crude futures fell 0.3 per cent to  USD 61.87 a barrel.

The US dollar managed to stabilise after heavy losses in the previous session. The dollar index was last seen at 99.079 against a basket of major currencies.

Foreign Institutional Investors (FIIs) were net buyers, purchasing ₹2,385.61 crore worth of shares on April 29, 2025. Domestic Institutional Investors (DIIs) purchased shares worth ₹1,369.19 crore during the same period. 

Only RBL Bank is banned for trading in the F&O segment today..

Disclaimer: The article is for informational purposes only and not investment advice.