Market Wrap, April 30: Indices end flat for second day, SENSEX down 46 pts, NIFTY below 24,350 mark; Bajaj Finserv tanks 5.6%

The Indian stock market settled flat for the second straight session on Wednesday, April 30, as the broader market underperformed and PSU banking stocks also declined.

Market investors were cautious amid corporate earnings and further development in the geopolitical tensions. Both NIFTY50 and SENSEX are marginally lower.

At close, the S&P BSE SENSEX stood at 80,242.24, falling 46.14 points, or 0.06%, while the NSE's NIFTY50 index fell 1.75 points, or 0.01%, to 24,334.20 levels.

On the broader market, the small-cap gauge slipped over 1.7%, while the mid-cap index fell 0.85%.

Apart from PSU banking stocks, the media sector also closed a gap down. However, realty stocks saw a good rally on Wednesday.

According to the exchange data, foreign institutional investors (FIIs) on Tuesday bought equities worth ₹2,385.61 crore on a net basis.

Globally, the US stocks closed in positive territory on Tuesday after a volatile session as investors kept an eye on corporate earnings, economic data and changes on the trade policy front.

The Dow Jones Industrial Average gained 300.03 points, or 0.75%, to close at 40,527.62; the S&P 500 climbed 32.08 points, or 0.58%, to the 5,560.83 level; and the Nasdaq Composite rose 95.19 points, or 0.55%, to end at 17,461.32.

Meanwhile, the Asian markets on Wednesday closed mixed as they struggled to follow Wall Street's rally.

Japan's Nikkei 225 was up 0.57% at the 36,045.38 level, while the Kospi index ended 0.34% down at the 2,556.61 level. China's Shanghai Composite also slipped 0.23%. Meanwhile, Hong Kong's Hang Seng Index remained positive on Wednesday, gaining 0.50% to the 22,119.41 mark.

Indian stock exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), will not be operational on Thursday, May 1, as the world celebrates Labour Day.

As many as 2,927 stocks traded on the NSE on Wednesday. Out of this, 2,228 declined and only 631 stocks advanced, while 68 scrips remained unchanged.

A total of 24 stocks hit their 52-week highs, while 30 stocks touched their one-year lows. Besides, 37 stocks hit their upper circuit limits, and 81 touched their lower circuit bands on Wednesday.

NSE-listed firms' market capitalisation stood at ₹421.38 lakh crore at the end of the session.

India VIX, the volatility gauge, stood at 18.22 levels, soaring 4.90%.

The broader market underperformed the main equity indices as Nifty Midcap 100 slipped 0.85% to the 54,124.90 level, while Nifty Smallcap 100 ended at the 16,448.85 mark, declining 1.73%.

Nifty PSU Bank (-2.23%), Nifty Media (-2.18%), Nifty Consumer Durables (-0.88%), Nifty IT (-0.35%) and Nifty Metal (-0.29%) were the biggest losers among sectors.

Nifty Realty (1.91%), Nifty Pharma (0.44%) and Nifty Auto (0.04%) were the only gainers.

Bajaj Finserv (-5.61%), Bajaj Finance (-5.27%), Trent (-4.76%), Tata Motors (-3.32%) and State Bank of India (3.07%) were the most losing stocks on the NIFTY50 index.

On the other side, HDFC Life Insurance, Maruti Suzuki, SBI Life Insurance, Bharti Airtel and Sun Pharma were the biggest gaining stocks on the 50-share index.

The company on Tuesday reported a 14% increase in its consolidated net profit to ₹2,417 crore in the fourth quarter ended March 2025. It had posted a net profit of ₹2,119 crore during the corresponding January-March period of the previous fiscal.

The total consolidated income during the March 2025 quarter advanced to ₹35,596 crore against ₹32,042 crore in the corresponding period of the previous financial year. Bajaj Finserv is a holding company for the various financial services businesses under the Bajaj group.

The stock in the early deals on Wednesday declined as much as 3.2% NSE. At close, the stock ended at ₹833 per share, falling 0.47%.

Kathpalia resigned from his post with immediate effect following the derivatives accounting discrepancies matter that was first reported in March this year. The financial implication of the accounting lapses is ₹1,960 crore to the bank.

CEAT Limited shares were trading 8.92% higher during the day's period despite the tyre maker on Tuesday reporting a consolidated net profit decline of 3% to ₹99 crore for the fourth quarter ended March 31, 2025. The company had reported a net profit of ₹102 crore in the January-March quarter of 2023-24. However, investors remained confident about the firm on strong commentary from the management.

At close, shares of CEAT settled at ₹3,285 apiece on NSE, jumping 7.34%