The domestic equity benchmarks ended near the flatline with some negative points today, snapping a two-day winning streak, as losses in Bajaj twins and rising tensions with Pakistan weighed on investor sentiment.

The Nifty settled below the 24,350 mark. Realty, pharma and auto shares advanced while PSU Bank, media and consumer durables shares declined.

The weekly Nifty50 Futures & Options (F&O) series expiry has been shifted to today due to the market holiday tomorrow in observance of Maharashtra Day.

As per provisional closing data, the barometer index, the S&P BSE Sensex, shed 46.14 points or 0.06% to 80,242.24. The Nifty 50 index fell 1.75 points or 0.01% to 24,334.20.

Bajaj Finserv (down 5.44%) and Bajaj Finance (down 5.18%) were among the top losers, dragging the index lower.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.72% and the S&P BSE Small-Cap index fell 1.74%.

The market breadth was weak. On the BSE, 975 shares rose and 2,936 shares fell. A total of 152 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 4.90% to 18.22.

IPO Update:

The initial public offer of Ather Energy received bids for 7,25,63,390 shares as against 5,33,63,160 shares on offer, according to stock exchange data at 15:15 IST on 30 April 2025. The issue was subscribed 1.36 times.

The issue opened for bidding on 28 April 2025 and it will close on 30 April 2025. The price band of the IPO is fixed between Rs 304 and Rs 321 per share. An investor can bid for a minimum of 46 equity shares and in multiples thereof.

Ather Energy, incorporated in 2013, is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, smart accessories, and supporting software systems.

Buzzing Index:

The Nifty PSU Bank index declined 2.23% to 6,542.25. The index fell 2.28% in the two consecutive trading sessions.

UCO Bank (down 3.15%), State Bank of India (down 3.02%), Punjab National Bank (down 2.49%), Bank of India (down 2.34%) and Indian Overseas Bank (down 2.24%), Central Bank of India (down 2.19%), Union Bank of India (down 2.03%), Canara Bank (down 1.95%), Indian Bank (down 1.93%) and Punjab & Sind Bank (down 1.69%) declined.

Stocks in Spotlight:

IndiaMART InterMESH fell 1.87%. The company's consolidated net profit jumped 81.3% to Rs 180.60 crore on a 12.8% increase in revenue from operations to Rs 355.10 crore in Q4 FY25 over Q4 FY24.

Strides Pharma Science added 1.14% after the company said that its step-down wholly owned subsidiary in the US, Stride Pharma Inc, has acquired four approved ANDAs for the US market from Nostrum Laboratories, Inc., USA.

Ceat rallied 6.10% after the company's net profit advanced 2.45% to Rs 99.49 crore on a 3.66% increase in revenue to Rs 3,420.62 crore in Q4 FY25 over Q3 FY25.

Alembic Pharmaceuticals shed 0.56%. The company received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its oncology formulation facility located at Panelav, Gujarat.

Punjab & Sind Bank declined 2.94%. The bank's standalone net profit surged 124.45% to Rs 312.78 crore on 32.52% increase in total income to Rs 3,835.70 crore in Q4 FY25 over Q4 FY24.

Vedanta added 1.03% after the company's consolidated net profit surged 154.42% to Rs 3,483 crore in Q4 FY25 as compared with Rs 1,369 crore in Q4 FY24. Revenue from operations jumped 13.89% YoY to Rs 39,789 crore during the quarter.

Bharat Petroleum Corporation (BPCL) shed 0.61%. The company reported a 23.91% drop in standalone net profit to Rs 3,214.06 crore in Q4 FY25 as against Rs 4,224.18 crore posted in Q4 FY24. Net sales (excluding excise duty) declined 4.59% year on year (YoY) to Rs 1,11,178.96 crore in the March 2025 quarter.

Exide Industries slipped 4.46% to Rs 353.35 after the company reported 10.27% decline in standalone net profit to Rs 254.60 crore in Q4 FY25 as against Rs 283.75 crore posted in Q4 FY24. Revenue from operations rose 3.74% YoY to Rs 4,159.42 crore for the quarter ended 31 March 2025.

Bajaj Finserv slumped 5.44%. The company's consolidated net profit jumped 16.44% to Rs 4756.32 crore on 14.21% increase in total income to Rs 36,596.43 crore in Q4 FY25 over Q4 FY24.

Bajaj Finance tumbled 5.18%. The company reported 17.12% jump in consolidated net profit to Rs 4,479.57 crore on 23.68% rise in total income to Rs 18,468.74 crore in Q4 FY25 over Q4 FY24.

Meanwhile, the company's board has declared a special interim dividend of Rs 12 per share for the financial year ended 31 March 2025. The dividend will be credited or dispatched on or around 26 May 2025. The record date for determining eligible shareholders has been set as 9 May 2025.

Further, the company's board has recommended a final dividend of Rs 44 per share for the financial year ended 31 March 2025. If approved by shareholders at the upcoming Annual General Meeting, the dividend will be credited or dispatched on or around 28 July 2025. The record date for determining eligible shareholders has been set as 30 May 2025.

Furthermore, the company's board has proposed splitting each equity share of face value Rs 2 into two shares of face value Rs 1 each (fully paid-up). Additionally, the company has proposed issuing bonus shares in a 4:1 ratio, meaning shareholders will receive four bonus shares of Rs 1 each for every one share they currently hold.

UTI Asset Management Company declined 5.53% after the company's consolidated net profit tanked 46.26% to Rs 87.46 crore in Q4 FY25, compared with Rs 162.76 crore in Q4 FY24. Total revenue from operations fell 9.65% YoY to Rs 375.91 crore during the quarter.

Varun Beverages shed 1.64%, The company reported a 35.22% jump in consolidated net profit to Rs 726.49 crore in Q1 CY25 as compared with Rs 547.98 crore posted in Q1 CY24. Revenue from operations (excluding excise duty) surged 28.94% YoY to Rs 5,566.93 crore in the first quarter of 2025.

Shoppers Stop tumbled 7.37% after the company's standalone net profit tanked 88.56% to Rs 2.47 crore in Q4 FY25 from Rs 21.60 crore recorded in Q4 FY24. Revenue from operations increased 2.27% year on year (YoY) to Rs 1,022.36 crore in the fourth quarter of FY25.

Schaeffler India rallied 5.43% after the company reported a 16.58% jump in standalone net profit to Rs 265.41 crore on 14.1% increase in revenue from operations to Rs 2,110.02 crore in Q1 CY25 over Q1 CY24.

Greaves Cotton surged 3.67% after the company reported consolidated net profit of Rs 24.05 crore in Q4 FY25, steeply higher than Rs 2.56 crore for Q4 FY24. Revenue from operations rose 22.34% year on year (YoY) to Rs 822.83 crore in the quarter ended 31 March 2025.

Go Fashion (India) jumped 7.59% after the company reported 52% jump in net profit to Rs 19.9 crore on a 13% increase in total revenue to Rs 204.8 crore in Q4 FY25 as compared with Q4 FY24.

Global Markets:

European stock markets traded higher on Wednesday, as investors pored through another slew of earnings along with euro zone economic growth data.

The euro zone economy grew by a stronger-than-expected 0.4% in the first quarter, flash data from statistics agency Eurostat showed Wednesday, as global tariff tensions are casting uncertainty upon the bloc's growth prospects. The forecast was for a 0.2% expansion in the first three months of the year, compared to a revised 0.2% growth in the last quarter of 2024.

Euro zone economic growth has been lackluster for much of 2023 and 2024, even as the European Central Bank has been cutting interest rates in an effort to stimulate growth and boost economic activity. The ECB's deposit facility rate, its key rate, was taken down to 2.25% earlier this month ' down from highs of 4% in mid-2023.

Germany's economy expanded by 0.2% in the first quarter from the previous three-month period, preliminary data showed, as U.S. tariff tensions threaten the country's growth outlook.

Asian markets ended mixed as traders parsed a slew of key economic data in the region.

Starting with China, the country's manufacturing activity contracted more than expected in April, with the official Purchasing Managers' Index (PMI) dipping to 49.0'below the 50 mark that separates growth from contraction.

Japan's industrial production in March shrank by 1.1% month-on-month, more than double the expected decline. Retail sales also disappointed, rising 3.1% year-on-year, short of the 3.6% forecast, after a hot streak through early 2024.

Meanwhile, all eyes are now on the Bank of Japan, which kicked off its policy meeting today. Markets expect rates to remain steady at 0.5% when the decision lands on Thursday.

Australia's first-quarter inflation rose 2.4% compared to the same period last year, higher than the expected 2.3% climb. Meanwhile, China's manufacturing activity fell more than expected to a near two-year low, sliding into contractionary territory in April as the escalating trade war with the U.S. hurts bilateral trade.

Across the Pacific, U.S. stocks posted their sixth straight day of gains on Tuesday, driven by cooling Treasury yields and renewed optimism on the trade front. The Dow climbed 0.8%, while both the S&P 500 and Nasdaq notched up about 0.6% gains.

President Trump added to the cheer, signaling positive progress on tariff negotiations with India'coming along great, he said. Meanwhile, Treasury Secretary Scott Bessent noted that substantial talks are underway with Japan and hinted that a deal with South Korea might be on the horizon.

US consumer confidence took a hit, with the Conference Board's index dropping 7.9 points to 86.0 in April'its lowest reading since May 2020. The Atlanta Fed's GDPNow forecast for Q1 also slipped to -2.7%, while the JOLTS report showed a drop in job openings to 7.192 million.

In corporate news, Coca-Cola managed to fizz up 0.8% despite reporting a dip in Q1 revenue'even price hikes couldn't fully quench investor thirst. Meanwhile, Spotify lost some rhythm, tumbling over 3% after issuing underwhelming guidance for monthly active users.

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