| The key equity indices ended with modest gains today, rising for the third consecutive trading session. The rally was supported by strong buying in banking stocks. The Nifty ended above the 23,400 level. Banking stock and media shares advanced, while auto and pharma shares declined.
As per provisional closing, the barometer index, the S&P BSE Sensex, advanced 309.40 points or 0.40% to 77,044.29. The Nifty 50 index added 108.65 points or 0.47% to 23,437.20. In three consecutive trading sessions, the Sensex and Nifty jumped 4.33% and 4.63%, respectively.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 0.62% and the S&P BSE Small-Cap index rallied 0.91%.
The market breadth was strong. On the BSE, 2,640 shares rose and 1,306 shares fell. A total of 132 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.61% to 15.87.
Buzzing Index:
The Nifty PSU Bank gained 2.37% to 6,417.05. The index rallied 4.59% in the past three consecutive trading sessions.
Indian Bank (up 4.97%), Union Bank of India (up 3.97%), Bank of India (up 3.7%), Bank of Maharashtra (up 3.24%), Indian Overseas Bank (up 2.85%), Bank of Baroda (up 2.49%), UCO Bank (up 2.44%), Central Bank of India (up 2.38%), Punjab National Bank (up 2.32%) and Canara Bank (up 2.17%) advanced.
Stocks in Spotlight:
Swaraj Engines jumped 3.90% after the company's net profit surged 29.10% to Rs 45.42 crore in Q4 FY25 as against Rs 35.18 crore posted in Q4 FY24. Revenue from operations climbed 29.40% to Rs 454.16 crore recorded in the quarter ended 31 March 2025.
Indian Renewable Energy Development Agency (IREDA) jumped 5.57% after the company’s consolidated net profit jumped 48.66% to Rs 501.55 crore on a 36.93% increase in revenue from operations to Rs 1,905.06 crore in Q4 FY25 over Q4 FY24.
ICICI Lombard General Insurance Company declined 0.13%. The company’s net profit slipped 1.90% to Rs 509.59 crore in Q4 FY25 as against Rs 519.5 crore posted in Q4 FY24. However, total income jumped 13.27% to Rs 5,851.17 crore in Q4 FY25 as against Rs 5,165.35 crore recorded in the corresponding quarter last year.
ICICI Prudential Life Insurance Company rallied 3.15% after the reported 122.31% surge in standalone net profit to Rs 386.29 crore in Q4 FY25 as against Rs 173.76 crore posted in Q4 FY24. However, total income tumbled 30.79% YoY to Rs 15,637.51 crore in the quarter ended 31 March 2025.
Indusind Bank surged 7.12% after an external audit allayed investor fears regarding a significant discrepancy in the bank’s derivative portfolio.
The rally comes after a global audit firm completed an independent review of IndusInd’s books, quantifying the discrepancy at Rs 1,979 crore as of 30 June 2024. Crucially, the post-tax impact on the bank’s net worth is pegged at 2.27% as of December 2024—marginally better than the bank’s own internal estimate of 2.35% disclosed last month.
Indo National (INL) shed 0.09%. The company has announced that its board has approved the execution of a share subscription and shareholders' agreement with Medcuore Medical Solutions (MMSPL) and its promoters, marking a strategic investment of Rs 17 crore in the company.
Prozone Realty hit a lower circuit of 2%. The company announced that its board has approved the acquisition of 100% equity shares of Probliss Realty.
Infosys declined 1%. The company has announced a strategic agreement with Spark New Zealand (Spark), the country’s largest telecommunications and digital services provider, to support the transformation of Spark’s technology delivery model through digital innovation.
Landmark Cars rose 0.24%. The company’s total revenue from operations jumped 17.31% to Rs 1,525 crore in Q4 FY25 as compared with Rs 1,300 crore in Q4 FY24.
Dabur India added 1.45% after the company announced that its step-down wholly owned subsidiary, Dabur International FZE, will incorporate a new entity in the United Kingdom.
Mahanagar Gas (MGL) fell 4.55% after disclosing a significant cut in its allocation of APM (Administered Price Mechanism) natural gas. The development has raised concerns over the company's near-term profitability.
Global Markets:
Dow Jones futures are down 78 points, signaling a potential decline in U.S. stocks today.
European markets traded lower on Wednesday as uncertainty over the direction of U.S. trade tariffs continues to dent sentiment.
Eurozone inflation fell to 2.2% in March 2025, according to the latest data from Eurostat on Wednesday, down from 2.3% in February 2025.
U.K. inflation data for March came in at 2.6%, according to figures published by the Office for National Statistics on Wednesday.
Most Asian stocks ended lower on Wednesday after Wall Street declined overnight as investors assessed quarterly earnings, while tariff worries continued to weigh on investor sentiment.
China's economy expanded by 5.4% year-on-year in the first quarter, surpassing expectations. March retail sales rose 5.9%, while industrial production grew by 7.7% compared to the same period last year. Fixed asset investment increased by 4.2% in the January–March period. The urban unemployment rate fell to 5.2% in March, easing from 5.4% in February.
In the United States, the three major stock indexes closed lower on Tuesday. The Dow Jones Industrial Average declined 0.38%, the S&P 500 fell 0.17%, and the Nasdaq Composite edged down 0.05%. The losses came after consecutive sessions of gains, amid fading optimism over temporary relief from tariffs and uncertainty surrounding future trade policy under President Donald Trump.
NVIDIA Corporation slid 6% in aftermarket trade after the artificial intelligence major said the government had further restricted exports of its H20 chips to China.
Anticipation of more first-quarter earnings, as well as more cues on the U.S. economy, also kept risk appetite in check. |