Final Trade: Sensex down 589 pts, Nifty closes at 24,039; auto pharma drags

Indian equity indices closed lower for the second day in a row on April 25, as sector-wise selling was seen in all sectors except IT. The Sensex fell by 588.90 points to close at 79,212.53, while the Nifty fell by 207.35 points to close at 24,039.35. Broader segments also witnessed deeper cuts, with Nifty Midcap 100 and Smallcap 100 falling over 2.5 per cent each.

Auto, pharma, metal stocks plummet

Weak global leads and soft Q4 numbers kept the investors on tenterhooks. The auto and pharma shares were hit the hardest, with Maruti Suzuki declining over 2 per cent after its Q4 net profit came short. Others that trailed behind were Axis Bank, Adani Enterprises, Adani Ports, Shriram Finance, and Trent.

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IT bucks the trend, preferring index

IT shares were a bright spot, with the Nifty IT index rising 0.72 per cent, guided by purchase in TCS, Infosys, Coforge, and Persistent Systems. The sector's relative strength was due to declining concern over US macro data and continued global demand for outsourcing.

FII flows, trade sentiment favor downside support Despite the fall, there is guarded optimism by experts as they cite Rs 29,513 crore worth of FII inflows during the previous week. Positive signs from the US like a report by Treasury Secretary Scot Bessent that it could make India its first bilateral FTA partner also supported the mood.

Top gainers and losers

SBI Life Insurance surged over 5 per cent, Nifty's largest gainer after strong Q4 earnings and favorable brokerage calls. Nomura and Motilal Oswal favored the stock with target prices of Rs 1,800–2,000.

Concurrently, Axis Bank dropped more than 4 per cent following a narrow dip in net profit to Rs 7,118 crore in Q4FY25. But expansion of core income saved the lender from missing some expectations. Technical perspective: 24,000 milestone for Nifty, target on the upside at 24,400–24,550 According to Sameet Chavan of Angel One, Nifty has technically turned bullish by staying above the critical 200-day moving average of 24,000. He sees the same as a strong support level, while the resistance on the upside has been set at 24,400 and 24,550 levels, the latter being the 61.8 per cent retracement of the recent high.