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Markets trade choppy in late afternoon session
Apr-29-2025

Indian equity markets were trading choppy in late afternoon session as the traders remained cautious about heighten geopolitical tensions between India-Pakistan. However, trade remained firm on the back of robust FIIs fund inflow. Besides, the Reserve Bank has vowed to inject additional liquidity into the system via purchase of Government bonds for an aggregate amount of Rs 1.25 lakh crore in the month of May, which has supported the trading sentiments.

On the global front, Asian markets were trading mostly in green despite rising confusion about the status of talks between US and China after U.S. Treasury Secretary Scott Bessent put the burden for trade progress squarely on China. European markets were trading mostly in red as investors awaited for quarterly results of some big U.S. tech companies due this week.

The BSE Sensex is currently trading at 80351.69, up by 133.32 points or 0.17% after trading in a range of 80122.02 and 80661.31. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.22%, while Small cap index was up by 0.04%.

The top gaining sectoral indices on the BSE were IT up by 1.25%, TECK up by 0.88%, Capital Goods up by 0.70%, Industrials up by 0.55% and Consumer Durables up by 0.38%, while Utilities down by 1.37%, Power down by 1.06%, Metal down by 0.95%, Healthcare down by 0.65% and Basic Materials down by 0.59% were the top losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 2.21%, Tech Mahindra up by 2.14%, Infosys up by 1.51%, Eternal up by 1.36% and HCL Technologies up by 1.16%. On the flip side, NTPC down by 1.90%, Power Grid Corporation Of India down by 1.90%, Ultratech Cement down by 1.89%, Sun Pharmaceutical Industries down by 1.21% and Tata Motors down by 0.73% were the top losers.

Meanwhile, Crisil Ratings in its latest report has said that passenger vehicle (PV) industry in India is expected to touch a record cumulative domestic and export volume of 50 lakh units this fiscal (FY26) despite the annual growth rate slowing down to 2-4 per cent. This marks the fourth consecutive year of record sales, although momentum has significantly eased from the 25 per cent surge in fiscal 2023 after the pandemic. 

However, the report said penetration of electric vehicles (EVs) is seen at a moderate 3-3.5 per cent despite new launches and declining battery costs due to high prices, modest charging infrastructure and range anxiety, restricting the market to urban users as a second car option. The growth in the EV segment has slowed after doubling last year on a low base. It said the domestic market accounted for about 85 per cent of total volume last fiscal, with exports accounting for the rest. On the EV front, it said growth has slowed after doubling last year, but on a low base.

According to the report, the entry of global premium EV models, including Tesla would intensify competition in the premium segment, which accounts for less than 10 per cent of the overall volume, and will likely reset consumer expectations across categories, pushing Indian Original Equipment Manufacturer (OEMs) to accelerate technology upgrades. That said, the current high tariffs will limit imports. Going ahead, it said the pace of interest rate cuts and EV adoption, as well as potential supply shocks could impact the availability of chips and battery cells amid global tensions, and will, therefore, bear watching.

The CNX Nifty is currently trading at 24343.45, up by 14.95 points or 0.06% after trading in a range of 24290.75 and 24457.65. There were 21 stocks advancing against 29 stocks declining on the index.

The top gainers on Nifty were Bharat Electronics up by 3.77%, Reliance Industries up by 2.29%, Tech Mahindra up by 2.11%, Eternal up by 1.49% and Tata Consumer Products up by 1.27%. On the flip side, ONGC down by 2.13%, Coal India down by 2.03%, NTPC down by 1.98%, Power Grid Corporation Of India down by 1.88% and Ultratech Cement down by 1.87% were the top losers.

Asian markets are trading mostly in green; Hang Seng advanced 36.15 points or 0.16% to 22,008.11, Jakarta Composite gained 22.06 points or 0.33% to 6,745.03, Straits Times rose 2.88 points or 0.08% to 3,814.68, KOSPI increased 16.56 points or 0.65% to 2,565.42 and Taiwan Weighted added 198.22 points or 0.98% to 20,232.63, while Shanghai Composite weakened 1.76 points or 0.05% to 3,286.65.

European markets were trading mostly in red; UK’s FTSE 100 decreased 0.98 points or 0.01% to 8,416.36 and France’s CAC fell 1.93 points or 0.03% to 7,571.83, while Germany’s DAX gained 130.11 points or 0.58% to 22,401.78.
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