POST-MARKET SUMMARY 28th April 2025
On April 28, the bulls made a strong comeback on Dalal Street, with the benchmark indices erasing losses from the previous two sessions. Despite prevailing tensions between India and Pakistan, the domestic market rallied on hopes that India would avoid a hyper-aggressive, retaliatory response. Additionally, easing trade war tensions between the US and China provided a positive backdrop for global markets, further boosting investor sentiment.
In terms of sector performance, except for IT, all other indices ended in the green. Metal, realty, oil & gas, pharma, and PSU Bank sectors saw solid gains, up 1-3%.
NIFTY: The index opened 39 points higher at 24,070 and made a high of 24,355 before closing at 24,328. Nifty has formed a long bullish candle on the daily chart. Its immediate resistance level is now placed at 24,400 while its immediate support is at 24,230.
BANK NIFTY: The index opened 54 points lower at 54,610 and closed at 55,432. Bank Nifty has also formed a bullish candle on the daily chart. Its immediate resistance level is now placed around 55,700 while immediate support is around 55,150.
Stocks in Spotlight
▪ RailTel Corporation: Stock gained 2% after securing a work order worth Rs 90.08 crore from the Institute of Road Transport. The board also approved raising up to Rs 4,500 crore through equity shares, non-convertible debt instruments and warrants via various funding methods.
▪ RBL Bank: Stock jumped 10% following the quarterly earnings report, despite a significant drop in net profit year-on-year. Brokerages remain optimistic, citing improved ROA expectations for the upcoming financial year.
▪ SML Isuzu: Stock plunged to the 10% lower circuit limit after M&M announced its plan to acquire a majority stake in the company. The deal includes a significant outlay to strengthen its truck and bus business, along with an open offer under SEBI's takeover regulations.
Global News
▪ Asian markets experienced a pullback on Monday, with Hong Kong stocks slipping as investors took a cautious approach ahead of an important press briefing in China. The broader sentiment across Asia reflected caution, as traders awaited key updates that could impact market direction.
▪ European markets traded higher on Monday, with all sectors in the green, as investors prepared for a busy week of earnings reports and economic data from both Europe and the US.
▪ Brent crude oil futures remained mostly flat below $67 per barrel on Monday, as traders assessed the latest developments in the trade war.
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