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Markets manage to hold gains amid hopes over de-escalation of US-China trade war
Apr-23-2025

The Indian equity markets have made some recovery in late afternoon session following earlier pullback. Markets managed to hold their neck higher amid rising optimism over de-escalation of US-China trade disputes after U.S. President Donald Trump indicated that tariffs on Chinese imports would decrease subsequent to a trade deal but not to zero. Besides, investor sentiments remained upbeat as the HSBC Flash India Composite Output Index surged to 60.0 in April from a final reading of 59.5 in March, indicating growth is overall private sector activity. The HSBC Flash India PMI report has showed that India's private sector growth hit an eight-month high in the month of April on the back of buoyant international demand for goods and services. Meanwhile, traders are keenly watching earnings results of LTIMindtree, Tata Consumer Products, Bajaj Housing Finance, Dalmia Bharat, among others, due later today.

On the global front, Asian equity markets are trading mostly in green after U.S. President Donald Trump backed down from threats to dismiss Federal Reserve Chair Jerome Powell, helping calm investor concerns over the Fed's independence. European equity markets were trading higher.

The BSE Sensex is currently trading at 80057.87, up by 462.28 points or 0.58% after trading in a range of 79506.90 and 80254.55. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.74%, while Small cap index was up by 0.15%.

The top gaining sectoral indices on the BSE were IT up by 4.05%, TECK up by 2.97%, Auto up by 1.94%, Realty up by 1.32% and Capital Goods up by 0.82%, while Consumer Durables down by 1.07%, Bankex down by 0.87%, PSU down by 0.21%, Oil & Gas down by 0.20% and Basic Materials down by 0.09% were the top losing indices on BSE.

The top gainers on the Sensex were HCL Technologies up by 7.76%, Tech Mahindra up by 4.48%, Tata Motors up by 4.17%, Infosys up by 3.70% and Mahindra & Mahindra up by 3.08%. On the flip side, Kotak Mahindra Bank down by 1.86%, HDFC Bank down by 1.83%, SBI down by 0.95%, ITC down by 0.60% and Axis Bank down by 0.58% were the top losers.

Meanwhile, Union Minister Pralhad Joshi has said that 40 Gigawatt (GW) of renewable energy (RE) can soon come online as talks are on with states for signing power purchase agreements (PPAs). He said ‘we are targeting 50 GW of RE capacity annually to meet the 500 GW target by 2030, which of course includes 292 GW of solar energy.’ India added 29.52 GW RE capacity in 2024-25. 

The minister said peak power demand will double in 2032 from the present levels. The peak power demand touched an all-time high of 250 GW in May 2024. The power ministry has estimated 270 GW peak power demand during this summer. He said India needs to create innovative solutions to maximize solar energy generation from available land resources. He also called for use of innovative solutions for using building materials like glass to generate solar energy from limited space available like in high-rise buildings. He said talks are on with states to sign PPAs for 40 GW RE projects.

Joshi also said that 12 lakh households have installed rooftop solar under Pradhan Mantri Surya Ghar Muft Bijli Yojana. Earlier, the minister said that India has already achieve 106GW of solar and 51GW of wind energy generation capacity. He stressed on the need for having solar electric vehicle charging stations in the country saying that presently EVs are being charged by conventional energy. He opined that EVs should be charged by green energy. 

The CNX Nifty is currently trading at 24309.05, up by 141.80 points or 0.59% after trading in a range of 24119.95 and 24359.30. There were 37 stocks advancing against 13 stocks declining on the index.

The top gainers on Nifty were HCL Technologies up by 7.76%, Wipro up by 4.55%, Tech Mahindra up by 4.45%, Tata Motors up by 4.22% and Infosys up by 3.71%. On the flip side, Grasim Industries down by 2.26%, Kotak Mahindra Bank down by 1.97%, HDFC Bank down by 1.82%, Eicher Motors down by 1.28% and SBI down by 0.93% were the top losers.

Asian markets are trading mostly in green; Hang Seng advanced 510.3 points or 2.31% to 22,072.62, Jakarta Composite gained 90.16 points or 1.36% to 6,628.43, Straits Times rose 37.01 points or 0.98% to 3,832.42, KOSPI increased 38.92 points or 1.54% to 2,525.56, Nikkei 225 surged 648.03 points or 1.86% to 34,868.63 and Taiwan Weighted added 845.71 points or 4.31% to 19,639.14, while Shanghai Composite weakened 3.4 points or 0.1% to 3,296.36.

European markets were trading higher; UK’s FTSE 100 increased 129.68 points or 1.56% to 8,458.28, France’s CAC rose 166.94 points or 2.28% to 7,493.41 and Germany’s DAX gained 658.54 points or 3.09% to 21,952.07.
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