Despite a volatile session, Sensex and Nifty 50 ended marginally higher, with IT and defence stocks shining. Pharma, metal, and FMCG sectors weighed down the market.
April 29, 2025: The Indian stock market closed Tuesday’s session (April 29) on a flat note, marked by range-bound trade and selective sectoral movements. The Nifty 50 ended at 24,355, posting a minor gain of 0.02%, while the Sensex advanced 0.07% to settle at 80,278 points.
Also Read: How to Buy Life Insurance Online: A Comprehensive Guide
In contrast, broader markets outperformed, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising by 0.31% and 0.37%, respectively.
Global Trade Developments: Trump Eases Tariff Pressure
In global developments, U.S. President Donald Trump’s administration is reportedly considering easing tariffs on foreign vehicle parts. Commerce Secretary Howard Lutnick emphasized that Trump is focused on strengthening partnerships with domestic automakers and American workers.
Negotiations between the U.S. and its major trading partners, including China and India, are progressing. U.S. Treasury Secretary Scott Bessent hinted that India could be among the first countries to finalize a trade deal, possibly within this week.
Sectoral Performance:
- Top Gainers:
- Nifty IT surged 1.19%, closing at 35,906 points.
- Nifty Consumer Durables and Nifty Oil & Gas also ended higher with gains up to 0.45%.
- Lagging Sectors:
- Nifty Pharma declined by 1%, emerging as the worst performer.
- Nifty Metal, Nifty Media, Nifty Realty, Nifty Auto, and Nifty FMCG ended in the red with losses of up to 0.90%.
Foreign Portfolio Inflows:
Despite geopolitical concerns, particularly surrounding India-Pakistan tensions, the Indian market remained resilient.
Foreign Portfolio Investors (FPIs) continued their strong buying streak for the ninth consecutive session, pumping in nearly ₹35,000 crore into equities. This influx lifted the Nifty 50 by approximately 6.6% during this period, marking the longest foreign buying streak in nearly two years.
Outlook and Projections:
- UBS Forecast:
Global brokerage UBS projected an 8% upside for the Nifty 50, expecting it to touch 26,000 within a year. The brokerage remains positive on consumption-driven sectors like retail, consumer staples, two-wheelers, and travel, while also favoring financials, real estate, cement, and hospital stocks.
Tags:
stock market today, Sensex, Nifty 50, Indian stock market, IT stocks, defence stocks, Nifty Pharma, FPIs, Donald Trump tariffs, global trade, stock market news, Nifty Midcap 100, Nifty Smallcap 100