Sensex Gives Up 80000, Nifty Sheds 82 Points As Headline Indices End Seven- Session Gaining Spree

Sensex, Nifty Today: The headline indices snapped their seven-session gaining spree on April 24. The 30-share Sensex shed 315.06 points or 0.39 per cent to close at 79,801.43 level. On the other hand, the Nifty 50 index shed 82.25 points or 0.34 per cent to end the day at 24,246.7.

IndusInd Bank, Ultratech Cement Lead Gainers

The Nifty 50 index saw 31 of its constituents decline and 19 of its constituents advance. Shares of IndusInd Bank, UltraTech Cement, Grasim and Dr Reddy’s Laboratories gained the most at the close as they ended higher by up to 3.17 per cent. On the other hand, shares of Hindustan Unilever, Bharti Airtel, Eicher Motor and ICICI Bank declined the most at the close as they ended lower by as much as 4.12 per cent.

Realty, FMCG Indices Decline

Among the sectoral indices, the Nifty FMCG and the Nifty Realty index declined the most as they closed lower by 1.06 per cent and 1.41 per cent, respectively. On the other hand, the Nifty Pharma index bucked the trend as it closed higher by 1.08 per cent. Broader market indices ended the day on a mixed note, as the Nifty MidCap 100 and the Nifty SmallCap 100 flat with a negative bias, while the Nifty Microcap 250 gained 0.43 per cent.

Global Markets

Wall Street indices - S&P 500 and Nasdaq - closed higher by as much as 2.5 per cent on April 23, while the Dow Jones ended lower by 0.4 per cent. At the time of writing, European indices such as the FTSE 100, the CAC 40 and the DAX Performance index traded in the red down by as much as 0.26 per cent. Asian indices such as the Shanghai Composite and the Nikkei 225 traded higher by up to 0.49 per cent. On the other hand, the Hang Seng traded in the red, down by 0.74 per cent.

Primary Market Action

The secondary market is seeing renewed action with Tankup Engineers IPO which was open for subscription for the second day today. Notably, as many as three public issues are expected to open for subscription next week such as Iware Supplychain Services IPO, Ather Energy IPO, and Arunaya Organics IPO.

Cues To Watch

Rising tensions between India and Pakistan following the brutal killings of tourists in Pahalgam, Kashmir are likely to negatively affect investor sentiment in the upcoming sessions. On the trade-front, US-China tensions are expected to de-escalate after reports of US-China talks emerged. A report by news agency Reuters claimed that the Trump administration is likely to consider lowering tariffs on Chinese imports pending talks with Beijing.