Trade set-up, Apr 24: India action on Pahalgam attack, Q4 results in focus

Stock Market Today, Sensex Today, April 24: India's response to Pahalgam attack, Q4 results, and US President Donald Trump's trade deal with China are key factors that will guide stock markets today

Stock Market Today, Thursday, April 24, 2025: Developments in the Pahalgam terror attack case, minutes of the Reserve Bank of India (RBI), Q4 results of India Inc, and US President Donald Trump's view on China tariffs will sway the market sentiment today.

 

That apart, the Nifty's monthly F&O expiry for April, investors’ response to Tankup Engineers IPO, foreign investors' flows, oil prices, and rupee movement against the US dollar will further dictate the market trend on Thursday.

 

At 7:07 AM, GIFT Nifty futures were trading 59 points lower at 24,254 level.

 

Stock Market Recap, April 23:

Benchmark indices extended their winning ways to a seventh straight trading session on Wednesday, bolstered by gains in IT stocks.

 

In a volatile session, the BSE Sensex closed above the 80,000-mark, at 80,117, for the first time since December 2024. The Sensex gained 521 points on Wednesday.

 

The NSE Nifty50, meanwhile, added 162 points to end at 24,329.

 

FIIs/FPIs supported the fag-end buying as they bought Indian equities worth ₹3,332.93 crore. DIIs, on the contrary, sold stocks worth ₹1,234.46 crore.

 

Stock Market Prediction Today; trade set-up, factors that will guide Sensex, Nifty today:

 

Pahalgam terror attack:

The Indian Government, on Wednesday, announced five major, diplomatic steps in response to The Resistance Front (TRF)-led terror attack in Pahalgam, Kashmir. The proxy group for Pakistan-based Lashkar-e-Taiba opened fire at non-Muslim tourists in the meadow of Baisaran on Tuesday, killing at least 26.

 

In response, the Cabinet Committee on Security (CCS) suspended the Indus Waters Treaty, shut down the Attari border, and declared all Pakistani defence, navy, and air force advisers posted in India as persona non grata. Pakistani nationals are no longer allowed to travel to India. READ MORE

 

Today, an all-party meeting will likely be conducted in New Delhi to get all the parties on board in forming the next course of action.

 

Across the border, Pakistan Prime Minister Shehbaz Sharif will likely meet the top civilian and military leadership on Thursday in response to India's five steps against Islamabad.

 

Nifty F&O expiry:

The stock market may remain volatile on Thursday as the monthly derivative contracts of the Nifty50 index will expire later today. Investors will adjust their trade positions and rollovers accordingly.

 

Q4 results today:

Aavas Financiers, ACC, Accelya Solutions India, Adani Energy Solutions, Artson, Axis Bank, Cyient, Elecon Engineering Company, Emmessar Biotech & Nutrition, Hindustan Unilever (HUL), IEX, Indbank Merchant Banking Services, Jayshree Chemicals, Kirloskar Pneumatic Company, Laurus Labs, Lodha (Macrotech Developers), L&T Technology Services (LTTS), Mphasis, Nelco, Nestle India, Persistent Systems, Prime Securities, Rajoo Engineers, SBI Cards and Payment Services (SBI Card), SBI Life, Shanthi Gears, Sumeru Industries, Supreme Industries, Sterling and Wilson Renewable Energy, Tanla Platforms, Tech Mahindra (Tech M), Forbes Precision Tools and Machine Parts, and Waaree Technologies will announce their March quarter results today.

 

Read Q4 result expectations from Axis Bank, HUL, Nestle India, and Tech M here.  ALSO READ | Q4 results today: Tech Mahindra, HUL, Nestle, Axis Bank, L&T Tech on Apr 24

 

RBI Meeting Minutes:

The minutes of the RBI’s latest monetary policy meeting, which happened between April 7 and 9, reveal that members of the Monetary Policy Committee (MPC) were of the view that if the retail inflation was around the target rate of 4 per cent, but growth was still “moderate and recovering”, then the monetary policy should focus on “nurturing the domestic demand impulses” to further increase the growth momentum. READ MORE

 

IPOs Today:

Tankup Engineers IPO (SME) will enter day 2 of subscription today. The ₹19.53-crore IPO has been subscribed 1.1 times so far.

 

Global markets today:

Markets in the Asia Pacific region were mixed on Thursday after US Treasury Secretary Scott Bessent said on Wednesday that there was an “opportunity for a big trade deal” with China.

 

Japan's Nikkei index was leading in the regions with gains of around 0.9 per cent. Australia's ASX200 index followed with 0.47-per cent rise. South Korea's Kospi index, however, was down 0.23 per cent, erasing morning gains, after data showed the country’s gross domestic product (GDP) shrank 0.1 per cent in Q1-CY25. Hong Kong’s Hang Seng, too, slipped 0.19 per cent today.

 

Meanwhile, overnight, the Dow Jones Industrial Average rallied 1.07 per cent, the S&P 500 climbed 1.67 per cent, and the Nasdaq Composite surged 2.50 per cent.

 

Sensex, Nifty levels to watch today:

According to Nifty share price movement, a small red candle was formed on the index’ daily chart with a long lower shadow, indicating a 'Hanging Man' type negative candle pattern.

 

This pattern, however, will be confirmed if the Nifty index moves below the low of the pattern (placed at 24,120).

 

"The underlying trend of the Nifty continues to be positive. Though the market is facing hurdles and volatility at highs, there is no confirmation of any reversal pattern or tiredness at higher levels as of now. The next upside resistance is around 24,550 and 24,800 in the near term. Immediate support is placed at 24,100," said Nagaraj Shetti, senior technical research analyst at HDFC Securities.

 

As for the Sensex index, Shrikant Chouhan, head of equity research at Kotak Securities, said that as long as the Sensex is trading above 79,500, the bullish sentiment is likely to continue.

 

"On the upside, it could move up to the range of 80,300-80,500. Conversely, if it falls below 795,00, we could see a quick short-term correction down to the 79,200-79,000 range," he added.