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EQUITY
Post Session: Quick Review
Apr-25-2025

Indian equity markets erased initial gains to end in negative territory on Friday, weighed down by escalating geopolitical tensions and mixed corporate earnings. Indices made a positive start supported by broadly positive cues from global markets and continued FII inflows. However, markets slipped into the deep red and remained under pressure for the rest of the day, as sentiment turned cautious amid rising geopolitical concerns following a deadly terrorist attack on tourists in Kashmir.

Some of the important factors in trade:

India-Pakistan trade will come to complete halt: Traders took a note of Federation of Indian Export Organisations’ (FIEO) statement that with Pakistan suspending all trade ties with India, including that routes through third countries, the two-way commerce will now come to a complete halt. 

India likely to be first to sign trade deal: Traders paid no head towards report that US Treasury Secretary Scott Bessent said that he expects India to strike the first bilateral trade deal to avoid President Donald Trump's reciprocal tariffs.

Traders overlooked FIIs inflow: Traders overlooked exchange data showed that Foreign Institutional Investors (FIIs) bought equities worth Rs 8,250.53 crore on Thursday.

Global front: European markets were trading in green as easing Sino-U.S. trade tensions and some upbeat corporate earnings helping underpin investors sentiment. Asian markets ended mostly in green  after comments by a Federal Reserve official bolstered odds that the central bank will cut interest rates as early as June. 

The BSE Sensex ended at 79212.53, down by 588.90 points or 0.74% after trading in a range of 78605.81 and 80130.66. There were 6 stocks advancing against 24 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 2.44%, while Small cap index down by 2.56%. (Provisional)

The only gaining sectoral index on the BSE was IT up by 0.22%, while Utilities down by 2.96%, Realty down by 2.87%, Power down by 2.77%, Telecom down by 2.56% and PSU down by 2.52% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were TCS up by 0.87%, Infosys up by 0.64%, Tech Mahindra up by 0.50%, Ultratech Cement up by 0.46% and Indusind Bank up by 0.14%. On the flip side, Adani Ports and Special Economic Zone down by 3.78%, Eternal down by 3.74%, Axis Bank down by 3.40%, Bajaj Finserv down by 3.34% and Power Grid down by 2.66% were the top losers. (Provisional)

Meanwhile, the Steel Secretary Sandeep Pondrik has said that the government is taking all measures to ensure that the quality and price of steel are right, even as he sounded confident of the country achieving the target of having 300-million tonnes steel production by 2030. 

Steel Secretary defended the 12 per cent safeguard duty on steel imports. He said ‘the government has already imposed a safeguard duty. It will be appropriately modified as per recommendation of DGTR. We are also ensuring that only quality steel comes into the country and low quality steel doesn't come only because of low price’. To achieve that, he said ‘we are bringing most of the grades of steel in quality control orders and BIS standards. So, we are taking all measures to ensure that the quality and price of steel is right’. 

He said the safeguard duty has been imposed by government based on the recommendation of Director General of Trade Remedies (DGTR), who has recommended 12 per cent safeguard duty, that was done to prevent injury to the domestic industry because low-cost steel was being dumped in the country as per the investigation of DGTR. Stating that this is provisional duty that will be applicable for 200 days, he said in the meanwhile DGTR will finalise its investigation, give its final findings to the government and based on that government will take a decision on the rate of the duty as well as the period of the duty up to which it will be implemented. 

The CNX Nifty ended at 24039.35, down by 207.35 points or 0.86% after trading in a range of 23847.85 and 24365.45. There were 7 stocks advancing against 42 stocks declining on the index, while one stock remained unchanged. (Provisional)

The top gainers on Nifty were SBI Life Insurance up by 5.15%, Tech Mahindra up by 1.02%, TCS up by 0.95%, Ultratech Cement up by 0.64% and Infosys up by 0.58%. On the flip side, Shriram Finance down by 8.41%, Adani Enterprises down by 3.95%, Trent down by 3.75%, Adani Ports and Special Economic Zone down by 3.75% and Eternal down by 3.67% were the top losers. (Provisional)

European markets were trading higher; Germany’s DAX gained 117.95 points or 0.53% to 22,182.46, France’s CAC rose 39.23 points or 0.52% to 7,542.01, and UK’s FTSE 100 increased 3.83 points or 0.05% to 8,411.27.

Asian markets settled mostly higher on Friday tracking Wall Street gains overnight amid signs that the US is making progress on trade negotiations and that the Fed might cut interest rates earlier than expected if labor and growth data weaken notably. Japanese shares gained as the government unveiled emergency economic measures to counter the impact of US tariffs, ahead of a second round of bilateral trade talks with the US to be held next week. Meanwhile, the Japanese yen declined after Tokyo’s Core Inflation Jumped to 3.4% in April, the highest in two years. However, Chinese shares declined as China denied the existence of negotiations on a deal with the US and demanded that the US revoke all unilateral tariffs.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,295.06

-2.23

-0.07

Hang Seng

21,980.74

70.98

0.32

Jakarta Composite

6,678.92

65.44

0.98

KLSE Composite

1,509.20

2.68

0.18

Nikkei 225

35,705.74

666.59

1.87

Straits Times

3,823.78

-8.14

-0.21

KOSPI Composite

2,546.30

23.97

0.94

Taiwan Weighted

19,872.73

393.92

1.98
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