Markets Fall Amid India-Pak Tensions; IT Lifts Nifty Above 24,000

Indian markets end lower amid geopolitical tension with Nifty closing at 24,039. IT stocks like Infosys and TCS limit losses; broader indices underperform.

By Shailendra Kushwaha Apr 25, 2025, 16:30 IST

Indian equity indices closed lower on Friday as rising tensions between India and Pakistan shook investor confidence. The Nifty 50 lost 207.35 points (0.86%) to close at 24,039.35, while the Sensex fell 588.90 points (0.74%) to 79,212.53.

Markets opened the May derivatives series on a high, with Nifty reaching 24,365.45 in early trade, but intense selling pressure, predominantly in the likes of media, PSU, metals, and realty, dragged it to an intraday low of 23,847.85. But increased buying in heavyweight IT stocks like Infosys, TCS, and Tech Mahindra helped take the edge off the decline.

Apart from Friday's decline, Sensex and Nifty registered almost 1% gains for the week.

Sector and Stock Performance

IT was the only sector to close in the green, as there was high interest in large-cap technology stocks.
All other sector indices closed in red, with 2-3% losses witnessed in media, power, PSU banks, oil & gas, and realty.
The BSE Midcap and Smallcap indices lagged, falling by about 2.5% each.
Top Nifty Losers: Axis Bank, Adani Enterprises, Shriram Finance, Adani Ports, Trent
Top Nifty Gainers: SBI Life, Infosys, TCS, Tech Mahindra, IndusInd Bank

In stock-specific action:

Axis Bank fell 3.4% despite firm Q4 earnings.
Cyient crashed 5.5%, while its Q4 consolidated profit grew 39%.
SBI Cards fell 6.3% on a 19% YoY decline in Q4 net profit.
L&T Technology Services lost 5% after dismal earnings.
More than 50 stocks hit 52-week highs on the BSE, including Navin Fluorine, UltraTech Cement, UPL, and Dalmia Bharat.

Analyst Outlook: Bearish Bias in the Making

Nifty's fall below its 200-DMA and recent consolidation indicate heightened bearish pressure, feels Rupak De of LKP Securities. He's placing hope on 23,800 and 23,515 as support levels, cautioning about more downside if these are breached.

Ajit Mishra of Religare Broking reprised a guarded note, attributing the slip to profit booking following the recent surge and geopolitical tensions. He advises a hedged and defensive approach into the forthcoming week.

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Global Cues

US markets surged overnight for the third consecutive day, topped by technology stocks. European markets were upbeat, while Asian peers also closed higher despite continuing geopolitical tensions.