Indian stock market today: Frontline indices, the Sensex and the Nifty 50, snapped their seven-day winning streak on Thursday, April 24, ending with mild losses on profit booking, tracking weak global cues.
A seven-session rally had pushed the Sensex and Nifty 50 up by over 8 per cent. However, the overbought market appeared ripe for profit booking, as the Indian stock market currently lacks fresh positive triggers, while concerns over US President Donald Trump’s tariff moves persist.
The Sensex ended 315 points, or 0.39 per cent, lower at 79,801.43, while the Nifty 50 settled with a loss of 82 points, or 0.34 per cent, at 24,246.70. The BSE Midcap index slipped 0.16 per cent, while the Smallcap index ended almost flat (5 points down).
According to Shrikant Chouhan, the head of equity research at Kotak Securities, the Nifty 50 has formed an inside body candle on the daily charts, indicating indecisiveness between the bulls and bears.
“We believe that the short-term market texture is bullish, but a fresh uptrend rally is only possible after the dismissal of the 24,350 resistance zone. Above this level, the market could move up to 24,450-24,500,” said Chouhan.
“On the other hand, if the market falls below 24,200, we could see a quick intraday correction down to 24,100. Further downside may also continue, which could drag the market down to 24,000,” Chouhan said.
Indian stock market: 10 key highlights
Let’s take a look at 10 key highlights of the stock market today:
1. Why did the Indian stock market fall today?
The Indian stock market ended slightly lower on Thursday due to profit booking amid weak global cues and a lack of fresh triggers.
Major markets in Asia and Europe traded lower as investors sought further clarity from the Trump administration on tariffs.
A fresh escalation of tensions between Russia and Ukraine also influenced sentiment.
According to Reuters, “Russia attacked Ukraine’s capital Kyiv with missiles and drones overnight, killing at least eight people and wounding more than 70.”
Rising tensions between India and Pakistan after the Pahalgam Terror Attack are also weighing on domestic market sentiment.
“The domestic market witnessed mild profit booking after the recent rally. Similarly, global markets too experienced selling pressure as the market participants scaled back the possibility of a quick resolution of tariff disputes between the US and China,” said Vinod Nair, Head of Research, Geojit Investments Limited.
2. Top Nifty 50 gainers today
Shares of IndusInd Bank (up 3.17 per cent), UltraTech Cement (up 1.89 per cent) and Grasim Industries (up 1.67 per cent) closed as the top gainers in the index.
3. Top Nifty 50 losers today
As many as 31 stocks closed lower in the Nifty 50 index. Shares of Hindustan Unilever (down 4.12 per cent) ended as the top loser after reporting weak Q4 numbers. It was followed by Bharti Airtel (down 1.89 per cent) and Eicher Motors (down 1.88 per cent).
4. Sectoral indies today
Most sectoral indices ended with losses. Nifty Realty and FMCG indices declined 1.41 per cent and 1.06 per cent, respectively. Nifty Auto slipped 0.25 per cent.
Nifty Bank ended with a loss of 0.30 per cent, while the Financial Services index declined 0.53 per cent.
On the other hand, the Nifty Pharma index jumped 1.08 per cent.
5. Most active stocks in terms of volume
Vodafone Idea (43.62 crore shares), GTL Infrastructure (17.8 crore shares) and Reliance Power (10.9 crore shares) were the most active stocks in terms of volume on the NSE.
6. 12 stocks surge 10% on NSE
Eldeco Housing And Industries, Modi Rubber and Repro India were the 12 stocks that surged over 10 per cent on NSE.
7. Over 15 stocks fall over 5% on NSE
Syngene International, Digicontent and Mangalam Global Enterprise were among the 17 stocks that fell more than 5 per cent on the NSE.
8. Over 100 stocks hit upper circuit on NSE
As many as 117 stocks, including Godfrey Phillips India, Senco Gold, Panacea Biotec and Indbank Merchant Banking Services, hit their upper price band during the session on the NSE.
9. Advance-decline ratio
As many as 1,404 stocks advanced while 1,441 declined and 85 remained unchanged on the NSE.
10. 75 stocks hit 52-week highs
Bajaj Finserv, Bajaj Finance and UltraTech Cement were among the 75 stocks that hit 52-week highs in intraday trade on the BSE.
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.