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Key gauges add gains in late afternoon session
Apr-16-2025

Indian bourses added some gains and continue to trade higher in late afternoon session despite early jitters. As the earning season started, optimism raised among market participants as the key sectors such as construction, retail, cement and banking sectors are expected to post strong results. Besides, India's retail inflation declined marginally to 3.34% in March, reaching its lowest level in nearly six years, driven by falling prices of vegetables and protein-rich food items, which uplifted the investor sentiments. Meanwhile, trade tension between US-China escalated after US announced 245% tariff on Chinese goods in retaliation of China’s halt of Boeing jet deliveries and aircraft part purchases.

On the global front, Asian equity markets are trading mostly in red despite China's GDP growth and other key economic data coming in above estimates as investors still wary of implication of escalating trade war between China and US. European equity markets were trading lower as ASML warned of increasing uncertainty around its outlook for 2025 and 2026, meanwhile, Nvidia hinted that it would incur $5.5 billion in charges due to new U.S. export controls.

The BSE Sensex is currently trading at 76955.58, up by 220.69 points or 0.29% after trading in a range of 76543.77 and 77030.01. There were 17 stocks advancing against 13 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index up by 0.39%, while Small cap index was up by 0.82%.

The top gaining sectoral indices on the BSE were Bankex up by 1.39%, Oil & Gas up by 1.31%, PSU up by 0.98%, Energy up by 0.96% and Consumer Durables up by 0.68%, while Auto down by 0.58%, IT down by 0.22%, Utilities down by 0.07%, Power down by 0.05% and Capital Goods down by 0.02% were the top losing indices on BSE.

The top gainers on the Sensex were Indusind Bank up by 7.39%, Axis Bank up by 4.15%, Asian Paints up by 1.69%, SBI up by 1.18% and Adani Ports up by 0.97%. On the flip side, Maruti Suzuki down by 1.59%, Tata Motors down by 1.14%, Infosys down by 1.10%, NTPC down by 1.08% and Bajaj Finance down by 1.01% were the top losers.

Meanwhile, the credit rating agency, S&P Global Ratings has said that if the US implements the reciprocal tariffs announced on April 2, major Asia Pacific economies like India, China, and Japan, will see growth fall by 0.2-0.4 percentage points over the next two years. It noted that the threat and imposition of tariffs by the US will slow global trade and confidence. The region's dependency on exports with China and the US will have an outsized hit on manufacturers and small economies.

For India, S&P had in March projected a 6.5 per cent and 6.8 per cent growth for 2025 and 2026, respectively. If the reciprocal tariff as announced by US President Donald Trump is implemented, S&P estimates the growth to fall to 6.3 per cent and 6.5 per cent, respectively.

The rating agency said that credit conditions in Asia Pacific will remain firmly on the downside as the trade tussle between China and US marks a significant escalation in ties between the two countries, and is hitting growth and confidence in Asia-Pacific. Besides, S&P said business confidence is set to deteriorate further amid halts in new investments and worsening household sentiment. Furthermore, equity and debt markets are likely to stay volatile.

The CNX Nifty is currently trading at 23403.90, up by 75.35 points or 0.32% after trading in a range of 23273.05 and 23430.95. There were 28 stocks advancing against 22 stocks declining on the index.

The top gainers on Nifty were Indusind Bank up by 7.30%, Axis Bank up by 4.34%, Trent up by 2.63%, ONGC up by 2.57% and Asian Paints up by 1.75%. On the flip side, Maruti Suzuki down by 1.61%, Hindalco down by 1.49%, Tata Motors down by 1.25%, NTPC down by 1.13% and Infosys down by 1.04% were the top losers.

Asian markets are trading mostly in red; Hang Seng declined 409.29 points or 1.94% to 21,056.98, Jakarta Composite plunged 54.45 points or 0.85% to 6,387.23, Taiwan Weighted lost 389.67 points or 2% to 19,468.00, KOSPI dropped 29.98 points or 1.22% to 2,447.43 and Nikkei 225 slipped 347.14 points or 1.02% to 33,920.40, while Straits Times rose 20.88 points or 0.58% to 3,645.60 and Shanghai Composite strengthened 8.34 points or 0.25% to 3,276.00.

European markets were trading lower; UK’s FTSE 100 decreased 26.26 points or 0.32% to 8,222.86, France’s CAC fell 38.96 points or 0.53% to 7,296.44 and Germany’s DAX lost 69.87 points or 0.33% to 21,183.83.
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