Indian Equity Market Ends Flat Amid Mixed Cues; PSU Banks Weigh on Sentiment

Indian Equity Market Ends Flat Amid Mixed Cues; PSU Banks Weigh on Sentiment

By Mr. Vikram Kasat, Head – Advisory, PL Capital

“The Indian equity market ended flat for a second consecutive session on April 30, with benchmarks showing minimal movement amid mixed global cues and cautious investor sentiment. The S&P BSE SENSEX closed at 80,242.24, down 46 points, while the NIFTY50 slipped marginally to 24,334.20. Weakness in PSU banking and media stocks weighed on the market, even as realty stocks saw notable traction. Broader indices underperformed, with small-caps down over 1.7% and mid-caps falling 0.85%, reflecting risk-off sentiment in the broader market.

 Investors remained watchful ahead of key earnings and developments on the geopolitical front. Meanwhile, foreign institutional investors continued to show buying interest, with net equity inflows of ₹2,385.61 crore on Tuesday. Globally, US markets closed higher, buoyed by corporate earnings and easing trade concerns, while Asian markets ended mixed. With markets shut on May 1 for Labour Day, near-term movement will likely hinge on global cues and earnings momentum”