Banking and Financials Drag Markets Lower as Bajaj Finance Weighs; India VIX Spike
Post Market Commentary: Indian frontline indices ended in the red with marginal losses on Wednesday, snapping a two-day winning streak. In today’s trade, India VIX surged nearly 5%, indicating heightened market volatility.
The BSE Sensex closed 46 points lower (-0.06%) at 80,242, while the Nifty 50 ended 2 points down (-0.01%) at 24,334. Both indices had a muted start, with the Nifty trading within a narrow range of 127 points. The overall market sentiment remained choppy, and the index closed nearly flat.
Gains in heavyweight stocks like HDFC Bank and Reliance Industries—both rising nearly 1%—helped limit losses in the frontline indices, even as the broader market saw declines.
Meanwhile, shares of Bajaj Finance fell 5.5%, after the company reported stronger Q4 profits. The decline was attributed to concerns over weak pre-provision operating performance and rising credit costs.
The Nifty Bank Index lost momentum on Wednesday, falling over 300 points, or 0.55%, to close at 55,087.
The Nifty Realty index jumped more than 1.91% in a day, emerging as the top-gaining sector and recording a monthly high.
At the close, the biggest contributors to Nifty 50’s gains were HDFC Bank (+19 points), Bharti Airtel (+18.39 points), and Maruti Suzuki (+10.94 points). Meanwhile, Bajaj Finserv (-13.94 points), State Bank of India (-21.19 points), and Bajaj Finance (-27.72 points) pulled the index down.
The broader market indices ended lower, with the Mid-cap and Small-cap 100 indices plunging by 0.85% and 1.73%, respectively, while 5 out of the 17 major sectoral indices ended in the green.
As of April 30, 2025, the Indian stock market witnessed negative market breadth. Out of 2,927 stocks traded on the NSE, 631 advanced, 2,228 declined, and 68 remained unchanged.
A total of 24 stocks touched their 52-week highs, while 30 hit their 52-week lows. Additionally, 37 stocks were locked in their upper circuits, whereas 81 stocks were in lower circuits.
Disclaimer: The article is for informational purposes only and not investment advice.
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