Market Wrap, April 29: Indices end flat; NIFTY50 settles above 24,300, SENSEX up 70 pts; IT stocks shine

The Indian stock market settled flat on Tuesday, April 29, amid a strong rally in the IT stocks and foreign investors continuing to buy in the Indian equity market. Gains in Reliance Industries for the second consecutive day help the equity indices to stay rangebound.

At close, the S&P BSE SENSEX stood at 80,288.38, climbing 70.01 points, or 0.09%, while the NSE's NIFTY50 index ended at 24,335.95, marginally rising 7.45 points, or 0.03%.

The market investors were also optimistic after India's industrial output grew 3.0% in March 2025, marginally higher than the 2.7% growth recorded in February, according to official data released on Monday.

The broader market ended the session on a positive note as both the midcap and smallcap gauges closed in the green.

On the sectoral front, Nifty IT, Consumer Durables, and Oil and Gas were the only gainers.

Foreign institutional investors (FIIs) bought equities worth ₹2,474.10 crore on a net basis on Monday, according to exchange data.

Globally, the US market ended mixed after a choppy session on Monday amid trade war uncertainties and rising gold prices.

The Dow Jones Industrial Average gained 114.09 points, or 0.28%, to 40,227.59; the S&P 500 rose 3.54 points, or 0.06%, to 5,528.75, while the Nasdaq Composite declined 16.81 points, or 0.10%, to 17,366.13.

Asian shares were mostly higher on Tuesday ahead of corporate earnings and economic data.

Hong Kong's Hang Seng was nearly unchanged at 21,969.67, while the Shanghai Composite index edged 0.1% lower, to 3,285.68. In South Korea, the Kospi jumped 0.7% to 2,565.42. Australia's S&P/ASX 200 also rose 0.9%, to 8,070.60 and Taiwan's Taiex gained 1%.

As many as 2,933 stocks traded on the NSE on Tuesday. Out of this, 1,365 advanced, and 1,478 declined, while 90 scrips remained unchanged.

A total of 33 stocks hit their 52-week highs, while 17 stocks touched their one-year lows. Besides, 78 stocks hit their upper circuit limits, and 46 touched their lower circuit bands on Friday.

NSE-listed firms' market capitalisation stood at ₹423.67 lakh crore at the end of the session.

The volatility index India VIX surged 2.53% to 16.94 levels.

The NIFTY Midcap 100 index rose 0.27% to 54,587.95 levels, while the NIFTY Smallcap 100 index ended the session at 16,738.70, advancing 0.37%.

Trent was the top contributing stock on the NIFTY50 index, rising 5.77%. Bharat Electronics (3.97%), Tech Mahindra (2.29%), Reliance Industries (2.2%) and Eternal (1.74%) were the other top gainers.

On the flip side, Sun Pharma (-2.25%), UltraTech Cement (-2.18%), Coal India (-2.13%), ONGC (-1.98%) and Dr Reddy’s (-1.88%) were the most losing stocks on the 50-share index.

On a sequential basis, the retail company's profit fell 25.44% from ₹469.33 crore in the December quarter of FY25.

According to an Economic Times report, Advent International, Bain Capital, TPG, EQT, Carlyle and KKR are among the private equity funds that showed interest in buying Whirlpool’s India business as the US parent looks to pare its stake in the listed subsidiary.

As per a CNBC-TV18 report, as many as 1.6 crore shares, or 3.95% equity, changed hands in the large block trade. The block deal is reported to be worth ₹1,094 crore.

The transaction took place at ₹683 per share, the report added.