Markets End 7-Day Rally as Financials, FMCG Drag Indices Lower

Despite the overall market dip, the breadth remained fairly balanced. On the NSE, out of 2,930 traded stocks, 1,404 advanced, 1,441 declined, and 85 remained unchanged.

Market Update at 4:00 PM: Indian benchmark indices ended lower on Thursday, halting a seven-day winning streak. After a strong rally of 8.62 per cent over the past seven sessions, markets opened slightly in the red, as investors booked profits. The decline was mainly led by pressure from heavyweight financial and FMCG stocks.

The BSE Sensex slipped by nearly 315 points or 0.39 per cent to settle at 79,801, backing off from the key 80,100 level. Similarly, the Nifty 50 declined 82 points or 0.34 per cent, closing at 24,247. The trading session remained volatile amid rising geopolitical concerns.

The Nifty Bank index mirrored the headline index's movement, falling by 0.30 per cent and closing just above 55,200. Among sectoral indices, Nifty Pharma outperformed, rising 1.08 per cent and reaching a two-month high. 

The broader markets also ended in the red, with the Nifty Mid-Cap 100 and Small-Cap 100 slipping 0.13 per cent and 0.04 per cent, respectively. Out of the 17 key sectoral indices, only four managed to close in the green.

Despite the overall market dip, the breadth remained fairly balanced. On the NSE, out of 2,930 traded stocks, 1,404 advanced, 1,441 declined, and 85 remained unchanged. Moreover, 42 stocks recorded fresh 52-week highs, while only 13 touched new lows. A total of 117 stocks were locked in their upper circuits, whereas 13 hit the lower circuit limit, indicating ongoing bullish undertones despite the day's profit booking.
 

Market Update at 12:15 PM: Indian benchmark indices showed a lackluster performance in early trading on Thursday, following a seven-session rally, as investors assessed earnings reports from leading FMCG player Hindustan Unilever.

The Nifty 50 dropped 0.25 per cent, trading at 24267, while the BSE Sensex declined 0.30 per cent, reaching 89,960 by 12:52 p.m. IST. The previous session had marked the highest closing levels for both indices in 2025.

Of the 17 major sectors, seven saw gains, while small-cap and mid-cap stocks, which are more focused on the domestic market, rose by approximately 0.3 per cent.

The FMCG sector saw a 0.79 per cent dip, with Hindustan Unilever dropping 3 per cent after Nestle India posted its earnings report, while Tata Consumer Products saw a decline after its Q4 operating margin dropped.

Samhi Hotels surged 4 per cent after announcing a USD 300 million joint venture with Singapore's GIC to develop upscale hotels in India.

Investors are encouraged by continued foreign inflows into Indian equities, with foreign investors having been net buyers over the past six sessions.

Currently, 39 stocks are trading at their 52-week high, and 11 stocks are at their 52-week low. On the NSE, 92 stocks have hit their upper circuit, while 29 stocks are locked in their lower circuit.

Market Update at 10:20 AM: India’s key stock indices opened slightly lower on Thursday, pausing after a seven-day winning streak that pushed them to their highest closing levels of the year. Analysts anticipate the market may see some consolidation at current levels as corporate earnings continue to come in.

As of 9:15 a.m. IST, the Nifty 50 slipped 0.21 per cent to 24,277.9, while the BSE Sensex edged down 0.07 per cent to 80,058.43. Among sectoral indices, eight out of 13 opened in the red. Meanwhile, the small-cap and mid-cap segments, which are more focused on domestic businesses, traded largely unchanged.

In line with this cautious sentiment, other Asian markets also retreated, with the MSCI Asia ex-Japan index falling by 0.7 per cent, reflecting a pause in the recent global relief rally.

Pre-Market Update at 8:15 AM: Indian stock markets are expected to open cautiously despite positive global equity momentum. After seven consecutive sessions of gains, benchmark indices might see a pullback. The Gift Nifty showed a decline of 58 points, signaling a soft start.

The market sentiment turned cautious due to escalating tensions between India and Pakistan following the terror attack in Pahalgam. India suspended the Indus Waters Treaty and downgraded diplomatic ties with Pakistan, marking a significant diplomatic response.

US officials are considering easing tariffs on the auto industry, responding to warnings from carmakers about the impact of Trump-era tariffs. This could signal a shift in US trade strategy, with possible implications for Canada and India.

Asian stock markets generally advanced, supported by Wall Street's gains. Japan’s Nikkei 225 rose over 1 per cent, while South Korea’s Kospi remained stable. Hong Kong’s Hang Seng futures showed little change.

US markets saw strong gains, with the Dow Jones rising 1.42 per cent, S&P 500 up 2.11 per cent, and Nasdaq surging by 3.20 per cent. Optimism over US-China trade talks contributed to the rally.

New single-family home sales in the US saw a 7.4 per cent increase in March, marking the highest level since September 2024. This rise suggests a robust housing market despite broader economic concerns.

Gold prices fell sharply by 3 per cent, retreating from record highs as investors turned to riskier assets. Spot gold was priced at  USD3,281.6 per ounce after reaching a peak of  USD3,500.05 previously.

Foreign Institutional Investors (FIIs) were net buyers, purchasing Rs 3,332.93 crore worth of shares on April 23, 2025. This marks a consistent buying trend over the last six sessions. In contrast, Domestic Institutional Investors (DIIs) sold Rs 1,234.46 crore during the same period.

Stocks banned for trading in the F&O segment on April 24 are only RBL Bank..

Disclaimer: The article is for informational purposes only and not investment advice.