India’s benchmark indices ended largely unchanged on Tuesday, 29 April, as modest gains in heavyweight stocks such as Reliance Industries and Infosys were negated by declines in HDFC Bank, Sun Pharmaceutical Industries, and Kotak Mahindra Bank.
The BSE Sensex closed 70 points, or 0.09 per cent higher, at 80,288.38. Meanwhile, the Nifty 50 edged up by 7 points, or 0.03 per cent, to settle at 24,335.95. Mid- and small-cap indices also saw muted gains, with the BSE Midcap index rising 0.23 per cent and the Smallcap index inching up by 0.09 per cent.
What Kept the Markets Range-Bound?
Profit booking in select blue-chip stocks, a dearth of fresh domestic triggers, and mixed cues from global markets kept market sentiment in check.
Although trade tensions between the US and its trading partners appear to be easing—following US President Donald Trump's move to mitigate the impact of proposed auto tariffs—geopolitical concerns linger.
According to Reuters, the Trump administration is looking to scale back tariff severity, providing some relief to global markets. Investors now shift their focus to corporate earnings and forthcoming macroeconomic data.
“The domestic market largely moved sideways amid caution over continuing border tensions and mixed corporate results,” said Vinod Nair, Head of Research at Geojit Financial Services.
“While persistent foreign institutional inflows supported sentiment, concerns remain regarding potential retaliatory actions and possible downgrades to FY26 earnings projections.”
Key Market Highlights
Top Nifty 50 Gainers:
Trent led the pack with a 5.77 per cent rise, followed by Bharat Electronics (up 3.97 per cent) and Tech Mahindra (up 2.29 per cent).
Top Nifty 50 Losers:
Sun Pharma declined 2.25 per cent, UltraTech Cement fell 2.18 per cent, and Coal India dropped 2.13 per cent, ranking among the worst performers.
Sectoral Performance:
While most sectoral indices ended in the red, the Nifty IT index outperformed with a gain of 1.23 per cent amid a softening of global trade tensions.
In contrast, Nifty Pharma fell 1.06 per cent, Nifty Metal dropped 0.95 per cent, and Nifty Bank edged down by 0.07 per cent. The Financial Services index also dipped 0.37 per cent.
Most Active Stocks by Volume:
Vodafone Idea led with a trading volume of 44.34 crore shares, followed by Easy Trip Planners (10.5 crore shares) and UCO Bank (6.14 crore shares).
Stocks Gaining Over 10%:
Eight stocks surged more than 10 per cent, including Paras Defence and Space Technologies, Malu Paper Mills, Data Patterns (India), Garden Reach Shipbuilders & Engineers, and newly listed TBO Tek.
Stocks Hitting Upper Circuits:
A total of 78 stocks reached their upper circuit limits. Notable names include India Cements, Panacea Biotec, and Setubandhan Infrastructure.
Stocks Hitting Lower Circuits:
Meanwhile, 46 stocks hit their lower circuit limits during the session. Among them were Gensol Engineering, Sterlite Technologies, and V2 Retail.
Market Breadth:
Market breadth on the NSE remained negative, with 1,365 stocks advancing, 1,478 declining, and 90 remaining unchanged.
52-Week Highs and Lows:
On the BSE, 64 stocks touched fresh 52-week highs in intraday trade, including ICICI Bank, Coromandel International, Mazagon Dock Shipbuilders, and Solar Industries India.
In contrast, 33 stocks, including Cubex Tubings, Teamo Productions HQ, and Uma Exports, hit their 52-week lows.
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