SSPL WEALTH PVT LTD

Mid - Session

Market behaviours during the course of the trading session.

Nifty trades above 24,300; European mrkt opens higher

28-Apr-25 13:39 Hrs IST

The frontline indices traded with major gains in the afternoon trade, as investors turned their focus to a heavy lineup of earnings announcements, sectoral trends, and global cues. The Nifty traded above the 24,300 level. Barring the IT index, all the sectoral indices on the NSE were traded in green, with PSU bank, Pharma and private bank shares advancing the most.

At 13:30 IST, the barometer index, the S&P BSE Sensex, surged 1,064.75 points or 1.34% to 80,277.28. The Nifty 50 index jumped 299.60 points or 1.24% to 24,337.45.

In the broader market, the S&P BSE Mid-Cap index gained 1.12% and the S&P BSE Small-Cap index added 0.41%.

The market breadth was positive. On the BSE, 1,964 shares rose and 1,909 shares fell. A total of 198 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.35% to 16.93.

Economy:

India's foreign exchange reserves rose by $8 billion to a six-month high of $686 billion in the week ended April 18 on the back of a rise in gold reserves and foreign currency assets, the latest data by the Reserve Bank of India (RBI) showed.

Foreign currency assets increased by $3.5 billion in the previous week. The rupee appreciated by 0.8% during the week.

Gold reserves increased by $4.5 billion during the week.

The special drawing rights (SDRs) were up $212 million to $18.5 billion. India's reserve position with the International Monetary Fund (IMF) was also up by $7 million to $4.5 billion in the reporting week.

Gainers & Losers:

Reliance Industries (up 4.99%), Bharat Electronics (up 2.79%), State Bank of India (up 2.67%), Sun Pharmaceutical Industries (up 2.73%) and JSW Steel (up 2.54%) were the major Nifty50 gainers.

Shriram Finance (down 4.04%), HCL Technologies (down 0.67%), ETERNAL (down 0.35%), Hindustan Unilever (down 0.49%) and Bajaj Finance (down 0.35%) were the major Nifty50 Losers.

Stocks in Spotlight:

IDFC First Bank shed 0.11%. The bank reported a 58.02% decline in standalone net profit to Rs 304.08 crore in Q4 FY25 as against Rs 724.35 crore posted in Q4 FY24. The profit was largely impacted by the issues in the microfinance industry. However, total income during the quarter increased by 14.67% YoY to Rs 11,308.35 crore.

Lloyds Metal and Energy slumped 3.33% after the company's consolidated net profit fell 27.1% to Rs 201.88 crore on a 23.49% decline in revenue from operations to Rs 1,182.66 crore in Q4 FY25 over Q4 FY24.

Indraprastha Gas rose 3.56%. The company has reported a 9% fall in net profit to Rs 349.23 crore despite a 10% increase in net sales to Rs 3932.78 crore in Q4 FY25 as compared with Q4 FY24.

Rossari Biotech shed 0.94%. The company's consolidated net profit rose marginally to Rs 34.44 crore in Q4 FY25 as against Rs 34.13 crore posted in Q4 FY24. However, revenue from operations jumped 22.60% to Rs 579.56 crore in the fourth quarter of FY25 as against Rs 472.72 crore posted in the corresponding quarter last year.

Tata Technologies added 2.03% after the company's consolidated net profit jumped 12% to Rs 188.87 crore, despite a 2.41% decline in revenue from operations to Rs 1,285.65 crore in Q4 FY25 over Q3 FY25.

India Cements rose 0.71%. The company reported a standalone net loss of Rs 75.66 crore in Q4 FY25 as against a net loss of Rs 29.33 crore posted in Q4 FY24. Revenue from operations declined 3.87% year-on-year (YoY) to Rs 1,197.13 crore in Q4 FY25, compared to Rs 1,245.38 crore in the same period last year.

Global Markets:

The Dow Jones index futures were down 190 points, hinting at a weak opening in US stocks today.

European markets opened higher on Monday, as investors brace for a slew of major earnings and data releases both in Europe and the U.S. this week.

Asian markets traded mixed as investors assessed China's promises to support domestic businesses as well as developments in trade negotiations between the U.S. and countries in the region.

Over the weekend, China's finance minister, Lan Fo'an, tried to play economic cheerleader, promising that Beijing would roll out more proactive macroeconomic policies to hit its full-year growth targets ' and, by extension, lend a helping hand to the global economy's recovery efforts.

More details could be just around the corner, with Chinese authorities scheduled to host a press conference later today.

Meanwhile, trade tensions are back in the spotlight. Investors are watching developments between the U.S. and its trading partners closely after President Donald Trump, according to the media, suggested he's not keen on hitting the brakes on his reciprocal tariffs strategy anytime soon.

Over on Wall Street, optimism made a small comeback on Friday. Tech stocks led the charge, pushing most major indexes higher. The S&P 500 wrapped up the day with a solid 0.74% gain, the Nasdaq jumped 1.26%, and even the lagging Dow Jones managed a tiny 0.05% uptick. Meanwhile, the dollar posted its first weekly rise in over a month, as traders hunted for any clue that the U.S.-China economic standoff might be losing steam.