Stock market today: Domestic equity benchmarks Nifty50 and Sensex gave up initial gains to end lower on Tuesday, April 30, amid a fag-end sell-off in IT and financial shares, as Dalal Street headed into a mid-week holiday the next day for Maharashtra Day. The Nifty index lost 38.6 points or 0.2 per cent to end at 22,604.9, having reversed course after scaling an all-time high of 22,783.4 during the session, and the Sensex settled at 74,482.8, down 188.5 points or 0.3 per cent from its previous close.

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Tech Mahindra, Tata Steel, Dr Reddy's, Sun Pharma, HCLTech were the other major laggards in the Nifty50 basket. On the other hand, Mahindra & Mahindra, Power Grid, Shriram Finance, Hero MotoCorp and Bajaj Auto were the top gainers. 

"Global markets remained mixed ahead of the US FED policy meeting, as markets appear to have already factored in the slim chance of a near-term rate cut. Profit booking ensued towards a close given the sharp rally in the last couple of days and a holiday-led truncated week," said Vinod Nair, Head of Research at Geojit Financial Services. 

"Domestic initial Q4 corporate earnings forecasts were conservative; however, Nifty50 companies’ earnings till date have remained marginally better, with the exception being the IT sector, while auto and realty continue to be robust," he said.

The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank and ICICI Bank, closed at 49,396.8, down 27.3 points, or 0.1 per cent, from its previous close.

Broader indices Nifty Midcap 100 and Nifty Smallcap 100 closed barely in the green.

Global markets

European shares began the day with minor losses as investors parsed a raft of mixed earnings reports from industry heavyweights like Mercedes-Benz and HSBC, while also keeping an eye out for economic data, including the April euro zone's inflation numbers. The continent-wide STOXX 600 stocks index was 0.2 per cent at the last count, on track to log its first monthly decline in six, knocked down by record interest rates, tensions in the Middle East, and uncertainty about the European Central Bank's monetary policy outlook.

With inputs from agencies 

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