The Indian stock market exhibited a cautious yet positive sentiment on Tuesday, April 29, 2025, as the Nifty 50 and Sensex indices closed on a flat note amid a range-bound trading session. The Nifty 50 ended at 24,355, reflecting a slight rise of 0.03%, while the Sensex edged up by 0.09% to settle at 80,288 points. Broader market indices, however, outperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 recording gains of 0.31% and 0.37%, respectively.
Sumeet Bagadia, Executive Director at Choice Broking, commented on the current market conditions, stating that the sentiment is cautiously optimistic. He noted that the Nifty 50 index closed flat and did not manage to breach the resistance level of 24,350. "Amid Q4 results 2025 season in full swing, one should maintain a stock-specific approach and look at those stocks that are showing strength on the technical chart. Breakout stocks can be a good option for intraday trading," Bagadia advised.
As traders look for potential breakout stocks, Bagadia recommended five shares to consider buying on Wednesday, April 30, 2025. These include Aspinwall and Company, Data Patterns (India), Sarla Performance Fibers, Kilitch Drugs (India), and Gillanders Arbuthnot & Co. Here are the specifics:
- Aspinwall and Company: Buy at ₹284.75, target ₹305, stop loss ₹275.
- Data Patterns (India): Buy at ₹2556.9, target ₹2750, stop loss ₹2460.
- Sarla Performance Fibers: Buy at ₹107.6, target ₹115, stop loss ₹103.5.
- Kilitch Drugs (India): Buy at ₹400.9, target ₹430, stop loss ₹385.
- Gillanders Arbuthnot & Co: Buy at ₹117.46, target ₹125, stop loss ₹113.
On Wednesday, April 30, 2025, the India VIX, a measure of market volatility, rose by 2.54% to 17.37, indicating an increase in market risk and the potential for sharp intraday swings. Additionally, the put-call ratio decreased from 1.17 to 0.84, suggesting a shift towards caution among traders and a growing bearish bias.
The Nifty index faces a crucial resistance level at 24,500, where heavy call writing has been observed with an open interest of 1.65 crore. In contrast, a significant support level is established at 24,000, bolstered by substantial put writing with 1.12 crore open interest.
In the realm of corporate developments, Indian insurers are set to shift ₹3.5 lakh crore in contracts to bond forwards as part of their risk management strategies. This move is expected to enhance stability amid fluctuating market conditions.
Market analysts have also provided insights on several stocks. Morgan Stanley (MS) has maintained an overweight rating on Trent, setting a target price of ₹6359 per share, while Jefferies has also recommended a buy on Trent with a target price of ₹5900 per share. In the energy sector, Citi has maintained a buy rating on Bharat Petroleum Corporation Limited (BPCL) with a target price of ₹390 per share, while Jefferies has raised its target price to ₹370.
In the cement industry, Ambuja Cements has garnered attention following its Q4 FY25 earnings call, where it reported crossing the 100 million tonnes per annum (MTPA) milestone, making it the ninth-largest cement company globally. The company aims to expand its capacity to 140 MTPA by FY28, supported by multiple organic expansions and ongoing investments in renewable energy.
Ambuja Cements is targeting a reduction in operational costs to ₹3,650 per tonne by FY28, leveraging supply chain efficiencies and optimizing raw material costs. The company has also enhanced its share of green power in total consumption, increasing it by 10.5 percentage points to 26%.
As the stock market gears up for more earnings announcements, the focus remains on key players such as Tata Motors, which is set to discuss raising ₹500 crore through securities. The board meeting is scheduled for May 2, 2025.
In the broader economic landscape, the U.S. Treasury Secretary has indicated positive progress in trade negotiations with Asian partners, particularly India. This development is anticipated to bolster investor confidence and may have implications for the Indian market.
On the global front, the China Manufacturing PMI was reported at 49.0, slightly below expectations, highlighting ongoing challenges in the manufacturing sector. This figure is indicative of a contraction in manufacturing activity, raising concerns about economic momentum.
As the market navigates through these developments, investors are encouraged to consider diversifying their portfolios. StockGro CEO Ajay Lakhotia has suggested favoring Gold ETFs and mutual funds this Akshaya Tritiya, as gold and silver prices soar. He emphasized that while traditions often favor jewelry purchases, Gold ETFs and mutual funds present a more strategic investment opportunity.
In summary, the Indian stock market remains in a cautious phase, with analysts advocating for a stock-specific approach as companies report their quarterly results. Investors are advised to stay updated on market conditions and consider recommendations from trusted analysts before making investment decisions.
