Market Wrap: Nifty and Sensex Close in Red, Syngene Plunges on Weak Guidance
By ScanX News Team
Indian stock markets ended negative on April 24, 2025, with Nifty down 0.34% at 24,246.70 and Sensex down 0.39% at 79,801.43. Engineering Services led gains (+1.17%), while Beverages sector declined (-1.10%). Syngene International plummeted 12.78% on disappointing Q4 results and FY26 guidance. Morepen Laboratories surged 13.92% following new product launches. Market breadth was slightly negative with 2,148 declines vs 2,145 advances out of 4,293 traded stocks.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets ended the trading session on a negative note on April 24, 2025, with both benchmark indices closing in the red. The Nifty 50 closed at 24,246.70, down 82.25 points or 0.34% from the previous close. Similarly, the BSE Sensex finished at 79,801.43, shedding 315.06 points or 0.39%.
Sectoral Performance
The market witnessed a mixed performance across sectors, with some notable gainers and losers:
Top Performing Sectors
- Engineering Services (+1.17%)
- Aviation (+0.95%)
- Healthcare (+0.87%)
- Diversified (+0.64%)
- Food Products (+0.59%)
Top Losing Sectors
- Beverages (-1.10%)
- Transport Services (-0.54%)
- Insurance (-0.42%)
- Capital Goods (-0.28%)
- Healthcare Services (-0.24%)
Buzzing Stocks
Syngene International
Syngene International's shares plummeted 12.78% to close at ₹653.40. The sharp decline came after the company's Q4 revenue missed estimates and its FY26 guidance disappointed analysts. Syngene expects single-digit growth for FY26, significantly lower than the 15% analysts had projected. The company's Q4 revenue grew 11% to ₹1,018 crore, below expectations, while EBITDA margins declined year-over-year to 33.7% due to higher employee costs.
Morepen Laboratories
Morepen Laboratories saw its stock surge 13.92% to end at ₹62.11. The company announced the launch of four new RX products in April 2025, reinforcing its R&D-driven growth strategy. With a current formulation business size of approximately ₹325 crore, Morepen is now accelerating towards a ₹1,000 crore target over the next five years.
Market Breadth
The overall market breadth was slightly negative, with decliners outnumbering advancers:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,293 |
| Advances | 2,145 |
| Declines | 2,148 |
Conclusion
In summary, the Indian stock markets closed lower on April 24, 2025, with both Nifty and Sensex in the red. While sectors like Engineering Services and Aviation showed strength, Beverages and Transport Services faced selling pressure. Syngene International was the major loser of the day due to disappointing guidance, while Morepen Laboratories surged on positive product launch news. The market breadth remained slightly negative, reflecting the overall cautious sentiment among investors.
