Muted Start Likely for Indian Market; IndusInd Bank in Focus After CEO Exit, Bajaj Finance on Bonus & Stock Split
Pre-Market Update: Indian stock market benchmarks, Sensex and Nifty 50, are likely to begin Wednesday’s session on a muted note, weighed down by mixed cues from global markets.
Gift Nifty suggests a subdued start for Indian benchmark indices, trading around the 28,411.5 mark as of 7:52 AM—down 19 points from the previous close of Nifty futures.
On Tuesday, domestic markets closed nearly flat with a slight positive bias, as the Nifty extended its winning streak for a second consecutive session. Stock-specific action dominated Dalal Street, with broader indices outperforming the frontline benchmarks.
Despite the muted signal from Gift Nifty, bulls may gain control as the session progresses, supported by continued institutional buying. Both FIIs and DIIs maintained their buying momentum on Tuesday.
IndusInd Bank, will remain in focus after MD & CEO Sumant Kathpalia resigned, taking moral responsibility for nearly ₹2,000 crore in accounting lapses linked to internal derivatives trades. His exit follows a forensic probe by Grant Thornton and comes shortly after Deputy CEO Arun Khurana also stepped down.
Adani Power, Indian Oil Corporation, Varun Beverages, Vedanta, Indus Towers, and Jindal Steel & Power are scheduled to announce their Q4 earnings today.
Bajaj Finance reported a 14.77% YoY rise in consolidated net profit to ₹3,940.44 crore in Q4 FY25 and declared a special interim dividend of ₹12 per share (600%) on face value ₹2, to be paid by May 26, 2025.
The company also announced a 1:2 stock split and a 4:1 bonus issue, with the stock split expected to be completed by June 27, 2025. A final dividend of ₹44 per share (2200%) has been recommended, subject to shareholder approval.
The firm’s net profit for the Jan-Mar 2025 quarter stood at ₹4,480 crore, up 17% YoY, with total income rising 24% to ₹15,808 crore and net interest income up 22% to ₹9,807 crore. AUM rose 26% to ₹4.17 lakh crore, with 10.10 million new loans booked and the customer base crossing 101.82 million.
Foreign Institutional Investors (FIIs) were net buyers, purchasing ₹2,385.61 crore worth of shares on April 29, 2025. Domestic Institutional Investors (DIIs) purchased shares worth ₹1,369.19 crore during the same period.
FIIs remain net buyers for the last ten trading sessions, infusing optimism in the Indian stock market, while DIIs are following the same trend since the last three trading sessions.
Asian markets showed a mixed trend on Wednesday as investors awaited key economic data releases from the region. Japan’s Nikkei 225 edged up by 0.14%, with the broader Topix index rising 0.5%. In contrast, South Korea’s Kospi slipped 0.2%, while the Kosdaq posted a 0.25% decline.
U.S. stocks finished on a strong note Tuesday as optimism grew around President Donald Trump’s ongoing tariff talks. The Dow Jones Industrial Average advanced by 300.03 points (0.75%) to settle at 40,527.62. The S&P 500 rose by 32.07 points (0.58%) to close at 5,560.82, while the Nasdaq Composite moved up by 95.19 points (0.55%) to end the session at 17,461.32.
US Treasury Secretary Scott Bessent mentioned that several key trading partners have presented “very good” offers to avert US tariffs, with India expected to be among the first to finalise an agreement. He also noted that China’s recent decision to exempt certain American products from its retaliatory tariffs indicates a willingness to ease tensions between the two largest economies in the world.
Gold prices edged lower as easing trade tensions between the United States and its trading partners reduced the metal’s appeal as a safe-haven asset. Spot gold slipped by 0.3% to $3,332.99 per ounce.
Crude oil prices also moved lower as the ongoing US-China trade conflict led investors to trim their global demand growth forecasts. Brent crude futures declined by 0.4% to $65.61 per barrel, and US West Texas Intermediate (WTI) crude futures fell 0.3% to $61.87 a barrel.
The US dollar managed to stabilise after heavy losses in the previous session. The dollar index was last seen at 99.079 against a basket of major currencies.
Disclaimer: The article is for informational purposes only and not investment advice.
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