SSPL WEALTH PVT LTD

Mid - Session

Market behaviours during the course of the trading session.

Nifty trades above 24,300 level; European mrkt opens higher

30-Apr-25 13:34 Hrs IST

The frontline indices continued to trade near flatline with some positive points in the afternoon trade, offsetting positive developments such as FII inflows and progress in global trade talks. The Nifty traded above the 24,300 level. Realty, pharma and FMCG shares advanced, while PSU bank, media and consumer durables shares declined.

The weekly Nifty50 Futures & Options (F&O) series expiry has been shifted to today due to the market holiday tomorrow in observance of Maharashtra Day.

At 13:30 IST, the barometer index, the S&P BSE Sensex, rose 50.32 points or 0.06% to 80,338.70. The Nifty 50 index added 0.85 points or 0.00% to 24,335.10.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index fell 1.08%.

The market breadth was weak. On the BSE, 1,089 shares rose and 2,698 shares fell. A total of 151 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 4.95% to 18.23.

Gainers & Losers:

HDFC Life Insurance Company (up 3.20%), Maruti Suzuki India (up 3.06%), Jio Financial Services (up 1.81%), SBI Life Insurance Company (up 1.45%) and Power Grid Corporation of India (up 1.45%) were the major Nifty50 gainers.

Bajaj Finserv (down 6.07%), Bajaj Finance (down 5.31%), Trent (down 4%), Tata Motors (down 3.24%) and State Bank of India (down 2.67%) were the major Nifty50 losers.

Stocks in Spotlight:

Shoppers Stop declined 7.59% after the company's standalone net profit tanked 88.56% to Rs 2.47 crore in Q4 FY25 from Rs 21.60 crore recorded in Q4 FY24. Revenue from operations increased 2.27% year on year (YoY) to Rs 1,022.36 crore in the fourth quarter of FY25.

Schaeffler India rallied 6.33% after the company reported a 16.58% jump in standalone net profit to Rs 265.41 crore on 14.1% increase in revenue from operations to Rs 2,110.02 crore in Q1 CY25 over Q1 CY24.

Varun Beverages rose 0.18%, The company reported a 35.22% jump in consolidated net profit to Rs 726.49 crore in Q1 CY25 as compared with Rs 547.98 crore posted in Q1 CY24. Revenue from operations (excluding excise duty) surged 28.94% YoY to Rs 5,566.93 crore in the first quarter of 2025.

UTI Asset Management Company tumbled 2.49% after the company's consolidated net profit tanked 46.26% to Rs 87.46 crore in Q4 FY25, compared with Rs 162.76 crore in Q4 FY24. Total revenue from operations fell 9.65% YoY to Rs 375.91 crore during the quarter.

The board of directors of the company has proposed a final dividend of Rs 26 per equity share and an additional special dividend of Rs 22 per equity share, taking overall final dividend to Rs 48 per equity share for financial year 2024-2025. The same is subject to the approval of shareholders at the ensuing annual general meeting.

Bajaj Finserv declined 5.89%. The company's consolidated net profit jumped 16.44% to Rs 4756.32 crore on a 14.21% increase in total income to Rs 36,596.43 crore in Q4 FY25 over Q4 FY24.

Bajaj Finance fell 5.27%. The company reported a 17.12% jump in consolidated net profit to Rs 4,479.57 crore on a 23.68% rise in total income to Rs 18,468.74 crore in Q4 FY25 over Q4 FY24.

Meanwhile, the company's board has declared a special interim dividend of Rs 12 per share for the financial year ended 31 March 2025. The dividend will be credited or dispatched on or around 26 May 2025. The record date for determining eligible shareholders has been set as 9 May 2025.

Further, the company's board has recommended a final dividend of Rs 44 per share for the financial year ended 31 March 2025. If approved by shareholders at the upcoming Annual General Meeting, the dividend will be credited or dispatched on or around 28 July 2025. The record date for determining eligible shareholders has been set as 30 May 2025.

Furthermore, the company's board has proposed splitting each equity share of face value Rs 2 into two shares of face value Rs 1 each (fully paid-up). Additionally, the company has proposed issuing bonus shares in a 4:1 ratio, meaning shareholders will receive four bonus shares of Rs 1 each for every one share they currently hold.

Global Markets:

European stock markets opened higher on Wednesday, as investors pored through another slew of earnings along with euro zone economic growth data.

Asian markets traded mixed as traders parsed a slew of key economic data in the region.

Australia's first-quarter inflation rose 2.4% compared to the same period last year, higher than the expected 2.3% climb. Meanwhile, China's manufacturing activity fell more than expected to a near two-year low, sliding into contractionary territory in April as the escalating trade war with the U.S. hurts bilateral trade.

Starting with China, the country's manufacturing activity contracted more than expected in April, with the official Purchasing Managers' Index (PMI) dipping to 49.0'below the 50 mark that separates growth from contraction.

Japan's industrial production in March shrank by 1.1% month-on-month, more than double the expected decline. Retail sales also disappointed, rising 3.1% year-on-year, short of the 3.6% forecast, after a hot streak through early 2024.

Meanwhile, all eyes are now on the Bank of Japan, which kicked off its policy meeting today. Markets expect rates to remain steady at 0.5% when the decision lands on Thursday.

Across the Pacific, U.S. stocks posted their sixth straight day of gains on Tuesday, driven by cooling Treasury yields and renewed optimism on the trade front. The Dow climbed 0.8%, while both the S&P 500 and Nasdaq notched up about 0.6% gains.

President Trump added to the cheer, signaling positive progress on tariff negotiations with India'coming along great, he said. Meanwhile, Treasury Secretary Scott Bessent noted that substantial talks are underway with Japan and hinted that a deal with South Korea might be on the horizon.

US consumer confidence took a hit, with the Conference Board's index dropping 7.9 points to 86.0 in April'its lowest reading since May 2020. The Atlanta Fed's GDPNow forecast for Q1 also slipped to -2.7%, while the JOLTS report showed a drop in job openings to 7.192 million.

In corporate news, Coca-Cola managed to fizz up 0.8% despite reporting a dip in Q1 revenue'even price hikes couldn't fully quench investor thirst. Meanwhile, Spotify lost some rhythm, tumbling over 3% after issuing underwhelming guidance for monthly active users.