The key equity indices traded with major losses in morning trade. Investors awaiting for Q4 earnings reports from the companies. The Nifty traded below the 24,000 level. Media shares decline after advancing in the past trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex declined 764.23 points or 0.95% to 79,043.86. The Nifty 50 index fell 265.05 points or 1.09% to 23,981.65
In the broader market, the S&P BSE Mid-Cap index fell 2.21% and the S&P BSE Small-Cap index dropped 2.69%.
The market breadth was weak. On the BSE, 549 shares rose and 3,036 shares fell. A total of 142 shares were unchanged.
Earnings Today:
Reliance Industries(down .39%), Maruti Suzuki India(down 0.39%), RBL Bank(down 3.66%), Tata Technologies(down 2.49%), L&T Finance(down 3.34%), Cholamandalam Investment and Finance(down 0.71%), DCB Bank(down 2.40%), Force Motors(down 3.83%), Hindustan Zinc(down 2.36%), Chennai Petroleum Corporation(down 1.24%), Dr Lal PathLabs(down 1.81%), Lloyds Metals and Energy(down 4.19%), Mahindra Lifespace Developers(down 2.65%), Motilal Oswal Financial Services (down 6.55%) will declare their quarterly results later today.
Buzzing Index:
The Nifty Media index fell 2.70% to 1,556.35. The Index jumped 0.14% in the past trading session.
Hathway Cable & Datacom (down 4.75%), Network 18 Media & Investments (down 4.55%), Zee Entertainment Enterprises (down 3.68%), Tips Music (down 3.5%), PVR Inox (down 3.08%), D B Corp (down 3%), Nazara Technologies (down 2.74%), Saregama India (down 2.27%), Sun TV Network (down 2.1%) and Dish TV India (down 2.03%) declined.
Stocks in Spotlight:
SBI Life Insurance Company jumped 3.57% after the company’s net profit rose marginally to Rs 813.51 crore in Q4 FY25 as against Rs 810.80 crore posted in Q4 FY24. However, total income dropped 35.66% YoY to Rs 24,169.41 crore in the quarter ended 31 March 2025.
Paras Defence and Space Technologies shed 0.82%. The company said that its board will meet on Wednesday, 30 April 2025, to consider and approve the sub-division / split of existing equity shares of the company.
Patel Engineering (PEL) rose 1.01% after the company said that it has declared the lowest bidder for two projects worth Rs 2036.89 crore. The first order pertains to the construction of Kondhane Dam and its allied works, using Roller Compacted Concrete technology, from the City and Industrial Development Corporation of Maharashtra (CIDCO), worth Rs 1,318.89 crore. It has also been declared as the lowest bidder for a hydropower project worth Rs 718 crore from the North Eastern Electric Power Corporation (NEEPCO).