Sensex Set for Cautious Open on April 29 Following Weak Global Cues

Key Highlights:

Sensex Prediction Today: 29 April Slips Slightly as Global Markets Stay Cautious

The BSE Sensex is likely to open mildly lower on Tuesday, April 29, 2025, following soft global cues and a weaker start indicated by Gift Nifty futures. As global equity markets remain cautious and Wall Street posted a muted session overnight, investors are bracing for a subdued open at Dalal Street.

Gift Nifty futures are down by -0.14%, suggesting that both the Sensex and Nifty 50 could see some early pressure.

Global Factors Influencing Sensex Today

• Wall Street Performance: Nasdaq and S&P 500 ended lower, dampening global sentiment.
• Asian Markets: Regional indices like Nikkei 225 and KOSPI opened flat to lower.
• Gift Nifty Futures: Down by 33.5 points, indicating early weakness for Indian equities.
• Currency Movements: Stable INR offering some cushion to foreign investment flows.

Expected Sensex Opening Levels

• Opening Range: 79,950 – 80,150
• Support Levels: 79,850 / 79,700
• Resistance Levels: 80,300 / 80,500
• Market Sentiment: Cautious with stock-specific movements likely

Sectors to Watch Today

• Technology:
  Infosys, TCS, and Wipro may see early selling pressure following Nasdaq weakness.
• Banking and Financials:
  ICICI Bank, SBI, and HDFC Bank likely to offer stability amid bond yield firmness.
• FMCG and Pharma:
  Hindustan Unilever, Britannia, and Dr. Reddy’s may witness defensive buying.
• Energy:
  Reliance Industries and ONGC could open mixed tracking crude price movements.

Key Drivers for Today’s Trade

• Global Market Weakness: Caution prevailing after Nasdaq’s minor retreat.
• Corporate Earnings Season: Q4 numbers from blue-chip companies to drive stock-specific action.
• Domestic Macro Factors: Fiscal deficit and core sector data eyed later this week.
• Commodity Trends: Crude oil prices stabilizing could impact energy sector.

Who Will Be Affected

• Retail investors trading frontline Sensex stocks.
• Institutional investors adjusting portfolio allocations amid earnings-driven moves.
• Derivatives traders in Sensex futures and options contracts.
• Portfolio managers focusing on sector rotation and defensive positioning.

What This Means for Traders

Intraday traders should prepare for range-bound trading initially with possible recovery later if global cues improve.
Defensive sectors like FMCG, pharma, and select private banks may outperform during early volatility.

What Happens Next

Market watchers will closely monitor:

• Early market breadth and stock-specific earnings reactions.
• Global equity futures movements during Asian and European trading sessions.
• Currency and bond market signals impacting foreign investor activity.
• Institutional activity during the second half of the session.

Holding above 79,850 support will be key to limiting downside pressure and setting up a potential intraday bounce.

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