Indian Markets Close Lower as Global Jitters Persist, Sensex closes at 80,641.07 and Nifty closes at 24,379.60
Indian benchmark indices concluded Tuesday's session on a negative note, snapping a two-day winning streak, as volatility and global market concerns weighed on investor sentiment. The Sensex ended 156 points lower, closing at 80,641.07, while the Nifty dipped below the 24,400 mark, finishing down 81.56 points at 24,379.60. Both indices had opened on a flat note earlier in the day.
The broader market saw an advance-decline ratio favouring sellers, reflecting the cautious mood. Volatility, as measured by the India VIX, was also up over 1%. Twenty out of the 30 Sensex stocks finished in the red.
Sectoral and Stock Performance
Selling pressure was particularly evident in certain sectors. The Nifty Pharma index fell over 1.11%, with stocks like Aurobindo Pharma, Lupin, and Cipla seeing declines. This downturn was attributed to concerns following U.S. President Donald Trump's executive order aimed at boosting domestic prescription drug production and his suggestion of potential tariffs on imported medicines, rattling Indian exporters reliant on the U.S. market. Nifty PSU banks (-4.84%) also traded with deep cuts.
Leading the decliners among the index heavyweights were Adani Enterprises and Jio Financial Services, both dropping over 4%. Early losses in Reliance Industries (-0.93%), Sun Pharma (-0.96%), Titan(-0.93%), and Tata Motors (-2.12%) also contributed to the market's weak opening.
Conversely, select stocks managed to buck the trend. Mahindra & Mahindra shares climbed over 1.22% after reporting better-than-expected Q4 results and announcing a higher dividend, receiving favourable brokerage reviews. Yes Bank shares also saw a jump of over 1.14% as Japan's SMBC moved closer to a potential deal. CCL Products shares surged nearly 16.20% after a strong Q4 performance.
Corporate Earnings and News Flow
A number of companies were in focus today due to their quarterly earnings announcements. Bank of Baroda reported a 3.3% YoY rise in standalone net profit for Q4FY25 at ₹5,048 crore, also declaring a dividend of ₹8.35 per share. However, the lender's shares slid as much as 10.91% as margin pressures, reflected in a 6.6% fall in net interest income, weighed on the results despite the profit increase.
Adani Energy Solutions reported a significant 78% YoY rise in consolidated net profit at ₹647 crore for Q4, with revenue up 35%. Polycab saw a 33% jump in Q4 profit to ₹727 crore, with revenue growing 25%, and recommended a final dividend of ₹35 per share. Indian Hotels Company reported a 25% rise in Q4 consolidated net profit to ₹522 crore, though shares slipped over 6.34%.
Meanwhile, Gensol Engineering shares continued their free-fall, hitting the lower circuit for the 18th straight day and reaching a 52-week low, amid a sustained sell-off and regulatory actions against promoters. Union Bank shares also fell following scrutiny over a ₹7.25 crore book purchase.
Global Cues
Global factors played a notable role in today's market dynamics. Tensions escalated after President Trump's announcement of tariffs, impacting not just pharma but also causing the S&P 500 to end its recent winning streak. Ray Dalio warned of a potential economic situation "worse than a recession" amid debt and tariffs, drawing parallels to the 1930s. Gold prices rose on safe-haven demand, while oil steadied after a previous session drop triggered by OPEC+ production plans and demand worries linked to U.S. tariffs. The U.S. dollar edged higher against major currencies, including the Rupee, which fell 5 paise to 84.35 against the USD in early trade.
Current Market Update
- The Sensex is trading at 80,566.83 down by 230.22 points or -0.28%.
- The NSE Nifty 50 is trading at 24,377.75 down by 87.80 points or -0.36%.
Top 5 Gainers
- Opening Price: ₹1,888.30
- Current Market Price (LTP): ₹1,900.30
- Percentage Change: +1.84%
Bharti Airtel leads the gainers’ list, buoyed by strong quarterly results and robust subscriber additions reported in the latest earnings. The company has also benefited from tariff hikes and improved average revenue per user (ARPU), which have supported margin expansion and investor sentiment. Recent news highlights continued growth in its 4G and 5G user base, driving optimism among market participants.
- Opening Price: ₹3,785.00
- Current Market Price (LTP): ₹3,831.40
- Percentage Change: +1.69%
Hero MotoCorp shares advanced after the company reported a double-digit increase in April sales, driven by strong demand for its premium motorcycles and scooters. The company’s focus on electric vehicle launches and rural market penetration has also contributed to the positive momentum.
Mahindra & Mahindra (M&M)
- Opening Price: ₹3,150.60
- Current Market Price (LTP): ₹3,066.30
- Percentage Change: +1.48%
M&M’s stock climbed as the company announced record tractor and SUV sales for April, reflecting robust rural demand and a strong product pipeline. Analysts have also cited the company’s resilient operating margins and ongoing investments in electric mobility as key drivers for the uptrend.
- Opening Price: ₹5,460.50
- Current Market Price (LTP): ₹5,530.50
- Percentage Change: +1.28%
Eicher Motors gained following upbeat Royal Enfield sales data and positive management commentary on export growth. The company’s focus on premium motorcycle launches and expanding international presence has attracted investor interest.
Hindustan Unilever (HINDUNILVR)
- Opening Price: ₹2,340.20
- Current Market Price (LTP): ₹2,374.60
- Percentage Change: +1.47%
Hindustan Unilever saw its shares rise on the back of strong quarterly earnings, with volume growth outpacing expectations. The company’s premiumisation strategy and expansion in rural markets have supported revenue growth.
Top 5 Losers
Adani Enterprises (ADANIENT)
- Opening Price: ₹2,454.00
- Current Market Price (LTP): ₹2,388.80
- Percentage Change: -2.72%
Adani Enterprises led the market losers, falling nearly 3% as investors exercised caution ahead of the company’s Q4 results due on 1 May 2025. The decline follows a weak Q3 performance, where consolidated net profit dropped sharply year-on-year, prompting concerns about earnings visibility and sector headwinds.
IndusInd Bank (INDUSINDBK)
- Opening Price: ₹846.75
- Current Market Price (LTP): ₹825.85
- Percentage Change: -2.47%
IndusInd Bank declined amid profit booking after a recent rally and concerns over asset quality, with analysts flagging rising slippages in the retail loan book. The stock also tracked weakness in the broader banking sector, as investors reassessed valuations post-results.
Eternal (ETERNAL)
- Opening Price: ₹240.00
- Current Market Price (LTP): ₹234.33
- Percentage Change: -2.32%
Eternal shares slipped on muted quarterly guidance and lower-than-expected revenue growth for the March quarter, according to management commentary released yesterday. Investors reacted to the cautious outlook, leading to a sell-off.
Adani Ports (ADANIPORTS)
- Opening Price: ₹1,350.00
- Current Market Price (LTP): ₹1,316.00
- Percentage Change: -2.31%
Adani Ports dropped as the company faced pressure from global shipping disruptions and cautious guidance on cargo volume growth. Market sentiment was further dampened by concerns over regulatory scrutiny and potential delays in project execution.
Jio Financial Services (JIOFIN)
- Opening Price: ₹259.25
- Current Market Price (LTP): ₹254.90
- Percentage Change: -2.19%
Jio Financial Services shares fell after the company reported a sequential decline in net interest margins and higher provisioning for bad loans in its Q4 update.
Equity Markets Open Firm
Indian benchmark indices opened on a positive note Tuesday. The NSE Nifty50 rose 17 points, briefly touching the 24,500 level. Meanwhile, the BSE Sensex climbed over 50 points to trade above the 80,850 mark by 9:18 AM.
Wall Street Ends Winning Streak; Focus Turns to Fed Decision
Overnight in the US, the S&P 500 snapped its longest winning streak in two decades as investors digested fresh trade policy signals from Washington and looked ahead to this week’s Federal Reserve policy meeting.
President Donald Trump on Sunday announced a 100% tariff on foreign-produced films, though implementation details remain unclear. On Monday, Treasury Secretary Scott Bessent said the administration’s combination of tariffs, tax cuts, and deregulation is aimed at boosting long-term capital inflows into the U.S., despite near-term market volatility.
Dollar Under Pressure; Taiwan Dollar Surges Amid Volatility on Monday
The US dollar came under renewed pressure after a weekend marked by geopolitical uncertainty. The Dollar Index remained capped below the 100-mark, staying within a narrow range as markets await fresh cues.
The Taiwan dollar surged over 5% in thin trading conditions, prompting an emergency briefing from the Taiwanese central bank. Meanwhile, the Indian rupee weakened marginally in early Asian trading hours.
Gold Holds Gains After Monday Surge
Gold prices steadied after a sharp 3% rise on Monday, supported by a weakening US dollar and renewed optimism around potential US trade agreements. Bullion hovered near $3,325 per ounce, with currency markets in Asia reacting to speculation that upcoming trade deals could involve adjustments in exchange rate regimes.
Oil Edges Higher After Heavy Sell-Off
Crude oil prices rebounded slightly in early Tuesday trade after hitting multi-year lows on Monday. Brent crude was last up 10 cents at $60.33 a barrel, while WTI crude rose to $57.23.
The recovery follows OPEC+’s weekend decision to ramp up production for the second consecutive month, adding 411,000 barrels per day in June — a move that has amplified fears of oversupply amid weakening demand concerns linked to escalating US tariffs.
Earnings Watch: Key Q4 results scheduled for today across sectors
A busy earnings calendar lies ahead, with several key companies slated to report their Q4 FY25 results today. Investors will closely monitor updates from One97 Communications (Paytm), Polycab India, Hindustan Petroleum Corporation (HPCL), Bank of Baroda, and Godrej Consumer Products, among others.
Other notable names set to announce results include Aadhar Housing Finance, Kajaria Ceramics, KEI Industries, Radico Khaitan, and Supreme Industries.
Earnings from these companies will be closely scrutinized for management commentary on demand trends, margin outlooks, and FY26 guidance amid a fluid macroeconomic backdrop.
Stocks to Watch:
Coforge Q4 Profit Rises 16.5% YoY; Revenue Jumps Nearly 47%
IT services firm Coforge reported a consolidated net profit of ₹261 crore for the March quarter of FY25, marking a 16.5% year-on-year increase from ₹224 crore a year ago. Revenue from operations surged 47% YoY to ₹3,410 crore, up from ₹2,318 crore in Q4FY24. On a sequential basis, profit grew 21% while revenue was up 4.6%, signaling continued growth momentum in client demand and project execution.
Paras Defence Signs MoU with Israel’s HevenDrones for JV in India
Paras Defence and Space Technologies has signed a Memorandum of Understanding (MoU) with Israel-based HevenDrones to explore joint opportunities in drone manufacturing for defence and civilian use. As part of the agreement, the two companies intend to establish a joint venture in India focused on developing and producing logistics and cargo drones, aligning with the Government of India’s Make in India initiative.
Indian Hotels Reports 25% Jump in Q4 Profit on Strong Demand
Indian Hotels Company Ltd (IHCL), part of the Tata Group, posted a consolidated net profit of ₹522.3 crore for Q4FY25, rising 25% year-on-year as demand in the hospitality sector remained robust. Operating revenue climbed 27% YoY to ₹2,425 crore, led by strong occupancy and average room rate growth across the Taj portfolio. The company attributed the outperformance to sustained momentum in domestic leisure and business travel.
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