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SBI Eyes Fundraising, Defence Stocks Surge on Geopolitical Tensions, Whirlpool Attracts PE Interest
SBI Eyes Fundraising, Defence Stocks Surge on Geopolitical Tensions, Whirlpool Attracts PE Interest
Written by - Fisdom Research
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April 29, 2025
2 minutes
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Market Snapshot
Indian markets ended largely flat on April 29, with benchmark indices giving up intraday gains in a rangebound session; however, the Nifty 50 held firm above the 24,300 mark.
Overnight, the S&P 500 and Dow Jones closed in the green after a volatile session, with investors watching for progress in tariff negotiations and bracing for a busy week of earnings and macro data.
Gold prices advanced as global uncertainty and trade concerns continued to support safe-haven demand.
European markets traded flat, reflecting cautious sentiment.
Asian equities ended higher as investors awaited key earnings and economic data that could shed light on the effects of U.S. trade policy moves.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY IT
1.2
NIFTY PRIVATE BANK
-0.2
NIFTY CONSUMER DURABLES
0.6
NIFTY AUTO
-0.2
NIFTY OIL & GAS
0.5
NIFTY FMCG
-0.3
NIFTY PSU BANK
-0.1
NIFTY REALTY
-0.3
Top News
State Bank of India may raise funds via FPO, rights issue, or QIP in FY26, pending government or RBI approval, after posting an 84% YoY rise in Q3FY25 net profit to ₹16,891 crore.
Defence stocks continued their sharp rally for the second day, with the Nifty Defence index rising 5.5% intraday, driven by rising geopolitical tensions and anticipation of key announcements from the Union Cabinet.
Whirlpool India surged 10% after reports suggested major global PE firms are being approached to acquire a 31% stake, as the US parent considers partial divestment while retaining strategic control.
Top Gainers and Losers
Top Gainers
% Change
Top Losers
% Change
TRENT
5.8
SUNPHARMA
-2.3
BEL
4.0
ULTRACEMCO
-2.2
TECHM
2.3
COALINDIA
-2.1
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,800
24,500
Bank Nifty
57,500
56,000
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