POST-MARKET SUMMARY 2nd May 2025

On May 2, the Indian stock market navigated through a highly volatile session, with the benchmark indices managing to close with marginal gains. Nifty showed a slight uptick, but the market struggled to sustain rallies, as every uptick was quickly met with profit-booking amid growing global uncertainty driven by factors such as fears of a US recession, volatility in crude oil prices, etc.

On the sectoral front, media, energy, IT, oil & gas stocks saw a modest rise of 0.3-0.7%, while power, metal, telecom, pharma, realty and consumer durables slipped 0.5-2%.

NIFTY:  The index opened flat at 24,311 and made a high of 24,589 before closing at 24,346. Nifty has formed an indecisive candle on the daily chart. Its immediate resistance level is now placed at 24,400 while its immediate support is at 24,240.

BANK NIFTY: The index opened 92 points higher at 55,100 and closed at 55,115. Bank Nifty has formed a Doji like candlestick pattern on the daily chart. Its immediate resistance level is now placed around 55,400 while immediate support is around 54,700.

Stocks in Spotlight

▪  Greenply Industries: Stock slipped over 2% today following the release of the latest quarterly results. While net sales rose by 8%, the earnings per share (EPS) saw a significant decline, falling from Rs. 2.63 to Rs. 1.33 year-on-year.

▪  Railtel Corporation: Stock jumped over 6% following the March quarter earnings, with the company posting a 46% year-on-year growth in net profit. Operating income surged by 57%, reaching Rs 1,308.28 crore.

▪  Latent View Analytics: Stock rose nearly 4% after the company posted an 18% jump in net profit to Rs 53.5 crore while revenue saw 35% YoY growth.

Global News

▪  European and Asian stocks climbed on Friday, fuelled by optimism over potential US-China trade talks, with Beijing signalling a willingness to negotiate.

▪  Gold traded around $3,250 per ounce on Friday, heading for its worst week in over two months as easing trade tensions reduced demand for safe-haven assets.

▪  The yield on the 10-year U.S. Treasury note rose above 4.23% on Friday, extending its gains for a second day. Investors are keenly awaiting the April jobs report to gauge how shifting trade dynamics are impacting the broader economy.

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