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Mid - Session

Market behaviours during the course of the trading session.

Nifty trades above 24,350; European mrkt opens higher

29-Apr-25 13:34 Hrs IST

The frontline indices traded with small gains in the afternoon trade, despite mixed global cues and ongoing concerns over potential tariff changes and rising geopolitical tensions. The Nifty traded above the 24,350 mark. IT and PSU bank shares advanced, while pharma, metal and media shares declined.

At 13:30 IST, the barometer index, the S&P BSE Sensex, added 205.22 points or 0.26% to 80,355.06. The Nifty 50 index rose 38.35 points or 0.16% to 24,367.

In the broader market, the S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index added 0.20%.

The market breadth was negative. On the BSE, 1,855 shares rose and 1,907 shares fell. A total of 167 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.24% to 17.32.

Gainers & Losers:

Bharat Electronics (up 3.93%), Reliance Industries (up 2.92%), Tech Mahindra (up 2.26%), Tata Consultancy Services (up 1.26%) and Infosys (up 1.16%) were the major Nifty50 gainers.

Power Grid Corporation of India (down 2.27%), UltraTech Cement (down 2.15%), Dr. Reddy's Laboratories (down 2.14%), Coal India (down 1.74%) and Oil & Natural Gas Corporation (down 1.40%) were the major Nifty50 Losers.

Stocks in Spotlight:

Hexaware Technologies rallied 3.23% after the company's consolidated net profit increased 2.6% to Rs 327.2 crore on 1.7% rise in revenue from operations to Rs 3,207.9 crore in Q1 CY25 over Q1 CY24.

Vimta Labs gained 1.31% after the company reported a 31.2% increase in net profit from continuing operations to Rs 18.32 crore on a 31.4% rise in total income to Rs 96.08 crore in Q4 FY25 as compared with Q4 FY24.

The board of Vimta Labs has granted its approval for increasing the company's borrowing powers up to Rs 300 crore, subject to approval of shareholders at the ensuing annual general meeting. The company's board has approved a dividend of Rs 2 per equity share for the financial year 2024-25.

The board has also recommended the issue of bonus shares in the ratio of 1:1, subject to the approval of shareholders in the ensuing AGM.

Firstsource Solutions fell 1.28%. The company's consolidated net profit rose 20.37% to Rs 160.69 crore on a 29.86% jump in revenue from operations to Rs 2,167.77 crore in Q4 FY25 over Q4 FY25.

Hatsun Agro Product slipped 5.68% after the company's consolidated net profit declined 17.52% to Rs 43.01 crore in Q4 FY25 as against Rs 52.15 crore posted in Q4 FY24. However, revenue from operations rose 9.57% YoY to Rs 2,242.85 crore during the quarter ended 31 March 2024.

RPG Life Sciences advanced 1.01% after the company reported a 64.3% increase in net profit to Rs 21.75 crore in Q4 FY25 from Rs 13.24 crore in Q4 FY25. Net sales rose by 12.7% year-over-year (YoY) to Rs 143.09 crore during the period under review.

Central Bank of India rose 1.44% after the bank's standalone net profit jumped 28.02% to Rs 1,033.55 crore, driven by a 7.57% rise in total income to Rs 10,432.56 crore in Q4 FY25 compared to Q4 FY24.

Global Markets:

European markets opened higher on Tuesday, as investors parsed a flurry of earnings for indications of the impact of U.S. tariffs and global economic uncertainty.

Asian stocks traded higher after U.S. President Donald Trump's administration said that it would move to reduce the impact of auto tariffs, while investors also assessed company earnings.

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.