SSPL WEALTH PVT LTD

Mid - Session

Market behaviours during the course of the trading session.

Indices drifts higher in early trade; Nifty above 24,400 level

29-Apr-25 09:37 Hrs IST

The domestic equity indices traded with decent gains in early trade, despite mixed global cues and ongoing concerns over potential tariff changes and rising geopolitical tensions between India and Pakistan. The Nifty traded above the 24,400 level. PSU bank, media and oil & gas shares advanced, while pharma and FMCG shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, surged 316.07 points or 0.39% to 80,547.10. The Nifty 50 index rose 90.30 points or 0.37% to 24,518.80.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.79% and the S&P BSE Small-Cap index jumped 0.97%.

The market breadth was strong. On the BSE, 2,152 shares rose and 479 shares fell. A total of 132 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,474.10 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,817.64 crore in the Indian equity market on 28 April 2025, provisional data showed.

Stocks in Spotlight:

RPG Life Sciences surged 8.84% after the company reported 64.3% jump in standalone net profit to Rs 117.35 crore in Q4 FY25 as compared with Rs 13.24 crore in Q4 FY24. Net sales increased 12.7% YoY to Rs 143.09 crore in Q4 FY25. The company's board recommends a final dividend of Rs 20 per share for FY25.

UCO Bank rallied 4.35% after the bank's standalone net profit jumped 24.1% to Rs 652.43 crore on 16.5% increase in total income to Rs 8136.79 crore in Q4 FY25 over Q4 FY24.

Central Bank of India added 2.86% after the bank reported a 28% increase to Rs 1,033.55 crore on 7.6% rise in total income to Rs 10,432.56 crore in Q4 FY25 over Q4 FY24.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.75% to 6.444 as compared with previous close 6.495.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.1000, compared with its close of 85.2375 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement shed 0.85% to Rs 95,200.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.28% to 99.21.

The United States 10-year bond yield rose 0.09% to 4.218.

In the commodities market, Brent crude for May 2025 settlement shed 82 cents, or 0.54% to $65.32 a barrel.

Global Markets:

Asian stocks edged higher on Tuesday as investors waited to see the extent of the impact of U.S. President Donald Trump's tariffs on corporate earnings and economic data expected from Wall Street this week.

Meanwhile, market watchers were glued to updates on negotiations between the U.S. and various countries in the region, hoping for any signs of a breakthrough.

In Japan, markets were closed for a public holiday.

Back in the U.S., Wall Street served up modest gains on Monday. The Dow Jones Industrial Average added 0.3%, the S&P 500 inched up 0.1%, and the Nasdaq Composite dipped ever so slightly by 0.1%, as investors digested fresh comments from U.S. Treasury Secretary Scott Bessent.

In an interview, Bessent struck a cautiously optimistic tone, mentioning that many countries have offered very good tariff proposals to the U.S. He also emphasized that all parts of the U.S. government remain in touch with China ' although Beijing earlier insisted no talks had happened.

Investors are gearing up for a packed calendar, featuring the Federal Reserve's favorite inflation metric ' the PCE Price Index ' along with the highly anticipated monthly jobs report. Plus, first-quarter GDP numbers are due, which could set the tone for the markets heading into the summer.

The so-called Magnificent Seven megacaps ' Apple, Microsoft, Amazon, and Meta Platforms among them ' are all set to drop their earnings this week.