POST-MARKET SUMMARY 29th April 2025

On April 29, the market struggled to maintain its intraday gains and ended flat in a rangebound session. Investors seemed cautious as they navigated through fluctuating market conditions, leading to minimal movement in key indices. Nifty, despite initially gaining ground, failed to hold onto its early momentum and traded within a narrow range. The market sentiment remained mixed as traders balanced between risk-off and profit-taking strategies.

On the sectoral front, capital goods, consumer durables, IT, and oil & gas sectors saw some positive traction, adding between 0.5-1%. However, metal, power, telecom, and pharma sectors faced a pullback, shedding 0.5-1% as selling pressure mounted.

NIFTY:  The index opened 42 points higher at 24,370 and made a high of 24,457 before closing at 24,355. Nifty has formed a small-bodied bearish candle on the daily chart. Its immediate resistance level is now placed at 24,400 while its immediate support is at 24,260. 

BANK NIFTY: The index opened 92 points higher at 55,524 and closed at 55,391. Bank Nifty has formed a small bodied bearish candle on the daily chart. Its immediate resistance level is now placed around 55,700 while immediate support is around 55,100.

Stocks in Spotlight

▪  UCO Bank: Stock jumped 4% after the lender reported a net profit of Rs 652 crore for the March quarter, reflecting a nearly 24% YoY increase. Additionally, net interest income climbed over 15% to Rs 6,745 crore.

▪  Paras Defence: Stock surged over 15% driven by heightened tensions along the India-Pakistan border and growing anticipation ahead of the Union Cabinet meeting, which kept investor interest strong in the sector.

▪  RPG Life Sciences: Stock ended almost 3% higher after the company reported a 786% jump in Q4 profit while revenue climbed 13% YoY to Rs 143.09 crore.

Global News 

▪  Asian markets showed a modest recovery on Tuesday, supported by gains in the tech and financial sectors, which helped offset the lacklustre performance seen in the previous session.

▪  European shares nudged higher on Tuesday as investors assessed a spate of corporate earnings, monitored potential tariff moves and awaited key economic data.

▪  Gold dropped below $3,320 per ounce on Tuesday as easing trade-war concerns curbed demand for safe-haven assets.

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