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Closing Bell: Nifty around 24,000, Sensex falls 589 pts; IT stocks outperform

Published on 26/04/2025 11:13 AM

Indian equity indices ended lower on second consecutive session on April 25 with Nifty around 24,000. At close, the Sensex was down 588.90 points or 0.74 percent at 79,212.53, and the Nifty was down 207.35 points or 0.86 percent at 24,039.35.

We wrap up today's edition of the Moneycontrol live market blog, and will be back Monday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

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Markets began the first day of the new derivatives series on a weak note, primarily weighed down by escalating geopolitical tensions between India and Pakistan. After an initial uptick, the Nifty witnessed a sharp decline in the first half; however, a rebound in select heavyweight stocks helped pare some losses later in the session. Eventually, the index settled at 24,080, down by 0.69%. Across sectors, most traded in the red, with realty, pharma, and energy emerging as the top losers. The pressure was even more pronounced in the broader markets, as both the Nifty Midcap and Smallcap indices ended with losses exceeding two percent each.

The heightened geopolitical uncertainty has led investors to adopt a risk-off approach, triggering profit-booking after the recent sharp rally. Furthermore, the markets appeared slightly overstretched following the vertical rise, prompting traders to reduce exposure. On the benchmark front, sustaining above the 23,800 level is crucial for Nifty to retain its positive bias; failure to do so could lead to further profit-taking. Given the prevailing environment, we maintain a cautious stance and recommend a hedged approach for existing positions.

Among sectors, except IT, all other indices ended in the red with media, metal, PSU, telecom, power, oil & gas, realty down 2-3 percent. Broader indices underperformed the main indices with BSE Midcap and smallcap indices falling 2.5 percent each....

Today, the Indian stock market closed sharply lower amid escalating geopolitical tensions and mixed corporate earnings. The Sensex fell by 588 points (0.74%) to close at 79,212, while the Nifty 50 dropped 207 points (0.86%) to settle near the crucial 24,039 mark. The key driver of the downside was the spike in India-Pakistan tensions following the Pahalgam terror attack, which led to retaliatory firing along the Line of Control and the suspension of the Indus Water Treaty by India. This heightened geopolitical risk spooked investors, especially ahead of the weekend, triggering broad-based selling.

The volatility index surged 6%, reflecting increased investor fear. Small and midcap stocks were hit hardest, with the BSE Small cap and Midcap indices fall signaling concerns over stretched valuations in these segments. Despite the overall weakness, IT stocks outperformed, providing some relief.

Nifty has slipped after a consolidation on the daily chart, indicating a rise in bearish sentiment. Additionally, the index has fallen below its 200-DMA, signaling a potential re-entry into a bearish trend. Investor sentiment remains weak, with a clear risk-off approach ahead of the weekend, amid rising tensions between India and Pakistan.

In the short term, sentiment is likely to continue driving the market trend, with the possibility of the index heading lower. Support on the lower end, is placed at 23800/23515.

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Indian equity indices ended lower on second consecutive session on April 25 with Nifty around 24,000.

At close, the Sensex was down 588.90 points or 0.74 percent at 79,212.53, and the Nifty was down 207.35 points or 0.86 percent at 24,039.35. About 682 shares advanced, 3138 shares declined, and 115 shares unchanged.

Among sectors, except IT, all other indices ended in the red with media, metal, PSU, telecom, power, oil & gas, realty down 2-3 percent.

BSE Midcap and smallcap indices shed 2.5 percent each.

Axis Bank, Adani Enterprises, Shriram Finance, Adani Ports, Trent were among biggest losers on the Nifty, while gainers included SBI Life Insurance, Infosys, TCS, Tech Mahindra, IndusInd Bank.

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