Markets end in red; Bajaj twins, geopolitical tensions drag

Equity benchmark indices Sensex and Nifty ended flat in a highly volatile trade on Wednesday after two days of rally amid growing concern over geopolitical tensions and selling in Bajaj twins.

Photograph: Shailesh Andrade/Reuters

Sustained foreign fund inflows, however, restricted the markets decline.

The 30-share BSE benchmark gauge declined 46.14 points or 0.06 per cent to settle at 80,242.24.

During the day, it hit a high of 80,525.61 and a low of 79,879.15, gyrating 646.46 points.

The NSE Nifty ended marginally lower by 1.75 points or 0.01 per cent at 24,334.20.

From the Sensex firms, Bajaj Finserv dropped over 5 per cent, while Bajaj Finance tanked almost 5 per cent each.

Bajaj Finserv Ltd (BFL) on Tuesday reported a 14 per cent increase in consolidated net profit to Rs 2,417 crore in the fourth quarter ended March 2025.

Meanwhile, NBFC firm Bajaj Finance on Tuesday reported a 16 per cent rise in standalone net profit to Rs 3,940 crore in the March 2025 quarter.

Tata Motors, State Bank of India, UltraTech Cement, Tata Consultancy Services, Tata Steel and Asian Paints were among the other laggards from the 30-share pack.

Maruti, Bharti Airtel, Power Grid, Hindustan Unilever and HDFC Bank were among the gainers.

“The broad market performed well this month, driven by reduced tariff risks, a potential US-India trade deal, and strong FII inflows.

“However, momentum is being capped by rising tensions between India and Pakistan and muted Q4 results.

“This negative bias is expected to persist in the near term, but the long-term outlook remains positive due to the minimal financial impact from the conflict.

“Consequently, any market consolidation is likely to be used as an investment opportunity,” Vinod Nair, head of research, Geojit Investments Limited, said.

In Asian markets, South Korea’s Kospi index and Shanghai SSE Composite settled lower while Tokyo’s Nikkei 225 and Hong Kong’s Hang Seng ended higher.

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,385.61 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude declined 0.92 per cent to $63.66 a barrel.

Equity markets will remain closed on Thursday for ‘Maharashtra Day’.