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Stock Market Highlights, April 30: Benchmarks sink in fag-end; Sensex drops 189 pts

Stock Market Highlights updates, Tuesday, April 30, 2024: The Nifty50 index hit a record high of 22,783.35 levels in intraday deals, led by M&M

BSE, NSE, Indian share market, Stock market

(Photo: Bloomberg)

Stock market highlights on April 30, 2024: Benchmark indices Sensex and Nifty50 turned sharply lower in the fag-end on Tuesday, weighed by metal and IT shares. That apart, profit booking by investors ahead of the US Federal Reserve policy meeting outcome, coupled with weekly expiry of the Bank Nifty F&O contracts dampened sentiment.

The Nifty50 index, which hit a record high of 22,783.35 in intraday trade, settled 38.55 points or 0.17 per cent lower at 22,604.85.

Similarly, the BSE Sensex shut shop at 74,482.35, down 188.50 points or 0.25 per cent. It hit an intraday high of 75,111.39.

On the BSE, apart from M&M, Power Grid and IndusInd Bank were the top gainers while Tech Mahindra, Tata Steel were among the major laggards.

Similarly, on the NSE, Shriram Finance, Power Grid were the other top gainers while Tata Steel, Tech Mahindra were among the top losers.

In the broader markets, Nifty Midcap settled 0.07 per cent higher while SmallCap fell marginally by 0.04 per cent.

Sectorally, the Nifty Auto led with over 1.82 per cent gains, followed by Nifty Realty (up 1.45 per cent).

3:51 PM

Tech View :: 'Nifty may remain sideways in near-term'

Nifty witnessed selling pressure as it encountered resistance near the previous swing high, resulting in a weak closing. Other indicators such as the 20-day Simple Moving Average (SMA) and the 50-day SMA are positioned below the index value, suggesting that the ongoing positive trend remains intact. The Relative Strength Index (RSI) also indicates a bullish crossover. Over the next few days, the trend in the headline index might remain sideways unless it breaks above the all-time high of 22783. On the downside, immediate support is placed at 22500, below which the index might decline further.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:50 PM

Tech View :: 'Bank Nifty witnessed a volatile trading session during expiry day'

The Bank Nifty witnessed a volatile trading session during the expiry day, with bulls dominating the first half and bears taking control in the second half. Although the index fell short of reaching the 50,000 mark, the overall sentiment remains bullish. Dips in the index should be seen as buying opportunities, especially with strong support noted around the 49,000 mark, where the highest open interest lies on the put side.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:47 PM

Currency check :: Rupee adds 4 paise vs US dollar

3:40 PM

Sectoral indices :: Media, Metal, IT indices sink 1%

3:38 PM

Broader markets :: Mid, SmallCap indices outshine benchmarks, end in green

3:37 PM

Sensex Heatmap :: IT, steel stocks drag benchmarks lower

3:35 PM

Closing Bell :: Nifty ends in red after hitting record high intraday

3:33 PM

Closing Bell :: Sensex drops in fag-end, slides nearly 200 pts

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