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Informist, Friday, May 2, 2025

 

By Gopika Balasubramanium

 

MUMBAI – The Nifty 50 closed marginally higher Friday as sustained sales eroded most intraday gains. Though the benchmark index rose 255 points intraday Friday, it ended close to the level on Thursday.

The main action on Friday was related to the March quarter earnings, analysts said.

 

Cross-border tension between India and Pakistan continued to weigh on the short-term sentiment and prevented investors from taking fresh positions, analysts said. Also, the market does not seem to be too worried about the escalation of tensions, as is evident from indices being steady throughout the past few sessions, analysts said. 

The Nifty 50 index touched an intraday high of 24589.15 points, the highest in four months, but came off highs to close at 24346.70 points, up a mere 12 points. The index has closed around the same level in the past three trading sessions and has moved in a range of 24198-24589 points. The 50-stock index has been facing strong resistance whenever it came close to 24500 points and only a close above this level would lead to further gains, analysts said. Sharp gains in the index heavyweight Reliance Industries helped the index close in the green.

 

The BSE Sensex closed at 80501.99 points, up 259.75 points or 0.3%. Even though the indices consolidated throughout this week, both gained 1.3-1.6% during the week, suggesting that the underlying trend is positive.  

 

Broader market indices underperformed the benchmark indices Friday. All the mid-cap and small-cap indices closed lower. The Nifty Midcap 50 was the worst hit and closed 0.9% lower. Sectoral indices ended mixed, with the Nifty Oil & Gas, the Nifty IT, and the Nifty Financial Services gaining the most. But, the indices related to consumer durables, metal, pharmaceuticals, and realty ended lower

 

Adani Ports and Special Economic Zone was the top gainer in the Nifty 50 and was up for the fourth straight session. The stock gained 6% intraday to hit a 5-month high of INR 1,295, following better-than-expected earnings for the March quarter and strong guidance for the current financial year. The company has guided for a capital expenditure of INR 110 billion-INR 120 billion for 2025-26 (Apr-Mar), and expects to spend most of this on expansion of domestic and overseas ports, as well as on its logistics business. 

 

JSW Steel fell the most among the Nifty 50 constituents and closed 5.5% lower after the Supreme Court rejected the company's resolution plan for Bhushan Power & Steel. The court ordered Bhushan Power & Steel, which JSW Steel had bought via the resolution process, to be liquidated. The court declared JSW Steel's resolution plan for Bhushan Steel & Power as illegal and said it should not have been accepted by the committee of creditors. Post the verdict, shares of JSW Steel dropped 8% to hit an intraday low of INR 948.30, but came off lows towards the close. Punjab National Bank, which had an exposure of INR 38 billion to Bhusha Steel & Power as of 2019, also slipped into the red following the court order and closed 0.5% lower. 

 

Shares of Godrej Properties rose 3?ter the company reported a better-than-expected net profit for the quarter. Shares of the company came off highs for a while after the results, but then gained sharply to end the session 4% higher. Shares of Indian Overseas Bank came off lows and gained 2?ter the bank reported strong earnings for the quarter. The bank's net profit rose 30% on year. The bank managed to halve its provisions for non-performing assets to INR 2 billion in the latest quarter.   

 

Apart from these, automobile stocks reacted to the April monthly sales data. TVS Motor Co. and Maruti Suzuki India were the top gainers. Maruti Suzuki's total sales for April were 7% higher on year, mainly due to increased sales of utility vehicles and exports. However, this is the fourth consecutive month of decline in sales on a month-on-month basis for Maruti. TVS Motor's despatches grew 16% on year with the growth in double-digits for the fourth consecutive month in April. Hero MotoCorp's sales volume in April dropped 43% on year to its lowest level in nearly four years due to a three-day halt of production for plant maintenance at four of its manufacturing units. Shares of Hero MotoCorp closed 2% lower.

 

* Of the Nifty 50 stocks, 17 rose and 33 fell

* Of the Sensex stocks, 17 rose and 13 fell

* On the NSE, 1,192 stocks rose, 1,651 fell, and 95 were unchanged

* On the BSE, 1,761 stocks rose, 2,183 fell, and 141 were unchanged

* Nifty Oil & Gas: up 0.7%; Nifty Media: up 0.5%; Nifty Consumer Durables: down 1.4%

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BSE                                               NSE

Sensex: 80501.99, up 259.75 points or 0.3%    Nifty 50: 24346.70, up 12.50 points or 0.1%

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S&P BSE Sensitive Index	Nifty 50
Lifetime High: 85978.25 (Sept. 27, 2024)	: Lifetime High: 26277.35 (Sept. 27, 2024)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26216.05 (Sept. 26, 2024)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 80218.37 (Apr. 28)	: 2025 Closing High: 24328.95 (Apr. 23)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 81177.93 (May 2)	: 2025 High (intraday): 24589.15 (May 2)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

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End

 

Edited by Saji George Titus

 

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