Stock markets decline after 7-day rally; HUL drops 4% post earnings
The Hindu
Equity markets decline due to selling in blue-chip stocks, muted global trends, and disappointing earnings reports.
Equity benchmark indices Sensex and Nifty ended lower on Thursday (April 24, 2025) amid profit-taking after a seven-day rally and disappointing earnings from Hindustan Unilever.
Selling in blue-chips ICICI Bank, Bharti Airtel and a largely muted trend in Asian and European equities also dragged the markets lower.
The 30-share BSE benchmark declined 315.06 points or 0.39% to settle at 79,801.43. During the day, it dropped 391.94 points or 0.48% to 79,724.55.
The NSE Nifty went down by 82.25 points or 0.34% to 24,246.70.
In the past seven trading days, the BSE benchmark gauge zoomed 6,269.34 points or 8.48% and the Nifty jumped 1,929.8 points or 8.61%.
From the Sensex firms, FMCG major Hindustan Unilever Ltd (HUL) dropped 4% after the firm reported a decline of 3.35% in consolidated net profit at ₹2,475 crore for the fourth quarter ended March 31, 2025 on lower margins.
Bharti Airtel, ICICI Bank, Eternal, Mahindra & Mahindra, HCL Technologies, HDFC Bank, Kotak Mahindra Bank, Tata Consultancy Services and Bajaj Finance were also among the laggards.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
World Bank cuts India's growth forecast to 6.3% for FY 2025-26, citing dampened export and investment growth.
Indian rupee strengthens against the U.S. dollar on FII inflows and lower oil prices, with market awaiting trade deal.
India and the U.S. are negotiating a comprehensive Bilateral Trade Agreement, focusing on market access, digital trade, and customs facilitation.
Maruti cuts e-Vitara production by two-thirds due to rare earth shortages, aims to meet full-year target.
SEBI issues ₹5.35 crore recovery notices to OPG Securities and directors for unfair trade practices, warning of asset attachment.
Equity mutual funds experience lowest inflow in 13 months, with SIP contributions remaining robust in May.
RBI aggressively eases monetary policy to boost consumption and investment, focusing on SMEs and rural sectors for growth.
India's household debt manageable, with majority prime credit quality borrowers, asset creation loans, and potential interest savings.
Sensex closes lower after 4-day rally, Nifty gains slightly; investors cautious amid global cues and trade talks.
Congress criticizes Modi government for celebrating drop in poverty to 5.3% based on $3/day poverty line, lacking dignity.
WazirX saw its proposed restructuring plan shot down by the Singapore High Court.
India sees consistent growth in FDI, attracting USD 748.78 billion over 11 years, with renewed inflows and global appeal.
Rupee strengthens against US dollar on positive equity markets and foreign inflows, but capped by global factors.