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Bourses continue to trade near neutral lines in early afternoon session
Apr-30-2025

In a volatile trading session, Indian equity markets continued their trade near neutral lines in early afternoon deals. Q4 earnings from bluechip companies influenced the markets sentiments. Traders avoided to take risk due to ongoing geopolitical tensions and developments related to tariffs. However, traders took note of finance ministry’s report stating that with the right strategies in place, continued domestic reforms, and a strong focus on infrastructure development and job creation, Indian economy can demonstrate resilient growth despite global uncertainties. On the global front, Asian markets were trading mostly in green, as value of retail sales in Japan was up 3.1% on year in March. That missed expectations for an increase of 3.6% and was up from 1.3% in February. On a seasonally adjusted monthly basis, retail sales fell 1.2%. 

The BSE Sensex is currently trading at 80318.71, up by 30.33 points or 0.04% after trading in a range of 80055.87 and 80478.73. There were 20 stocks advancing against 10 stocks declining on the index.

The broader indices were trading mixed; the BSE Mid cap index gained 0.04%, while Small cap index down by 0.76%.

The top gaining sectoral indices on the BSE were Realty up by 3.01%, Oil & Gas up by 0.86%, Healthcare up by 0.62%, Energy up by 0.54% and TECK was up by 0.23%, while PSU down by 0.70%, Consumer Durables down by 0.59%, Industrials down by 0.57%, Capital Goods down by 0.43% and Bankex was down by 0.39% were the top losing indices on BSE.

The top gainers on the Sensex were Maruti Suzuki up by 2.13%, Power Grid up by 1.52%, Sun Pharma up by 1.42%, Hindustan Unilever up by 1.05% and Mahindra & Mahindra up by 0.77%. On the flip side, Bajaj Finserv down by 5.75%, Bajaj Finance down by 5.38%, Tata Motors down by 3.09%, SBI down by 2.73% and Indusind Bank down by 1.23% were the top losers.

Meanwhile, government survey report has stated that the intended capital expenditure of the private corporate sector is estimated to decline by about 25 per cent to Rs 4.88 lakh crore in 2025-26 (FY26) from Rs 6.56 lakh crore in FY25. According to the Forward-Looking Survey on Private Sector CAPEX Investment Intentions between November 2024 and January 2025, conducted by the Ministry of Statistics & Programme Implementation, the actual capex in the private corporate sector was Rs 3.94 lakh crore in 2021-22, Rs 5.72 lakh crore in 2022-23 and Rs 4.22 lakh crore in 2023-24. A data of total 2,172 enterprises showed an overall increase of 66.3 per cent in aggregate capex (unweighted) over the four-year period from 2021-22 to 2024-25. However, the data indicated that the enterprises have taken a cautious approach in declaring their capital expenditure plans. The report noted that the Capex data for 2025-26 should be interpreted with caution, considering the conservative approach and apprehension shown by the responding enterprises in reporting these figures. However, the results showed an overall increase of 23.9 per cent in aggregate capex (unweighted) from 2021-22 to 2025-26 for this fixed panel of 2,172 enterprises.

As per the report, the average gross fixed asset (GFA) per enterprise in the private corporate sector was estimated at Rs 3,151.9 crore in 2021-22. It increased by 4 per cent to Rs 3,279.4 crore in 2022-23 and further grew by 27.5 per cent to reach Rs 4,183.3 crore in 2023-24. The report highlighted that the highest GFA per enterprise, exceeding Rs 14,000 crore, was observed in the industry category of 'Electricity, Gas, Steam, and Air Conditioning Supply', followed by 'Manufacturing' enterprises with GFA per enterprise of Rs 7,000 crore to Rs 10,000 crore. It also highlighted that the enterprises principally engaged in manufacturing activities accounted for more than 65 per cent of the total GFA in the private corporate sector over the past three years from 2021-22 to 2023-24, followed by enterprises engaged in 'Electricity, Gas, Steam, and Air Conditioning Supply' which accounted for 8 per cent-10 per cent.

According to it estimates, nearly 40.3 per cent of enterprises plan to undertake capex on core assets during 2024-25. Additionally, 28.4 per cent intend to invest in value addition to existing assets, while around 11.5 per cent focus on opportunistic assets, and 2.7 per cent on debt strategies. The report pointed out that less than one-half of a per cent of enterprises had adopted the strategy of investing in distressed assets and non-performing loans, while about 16.9 per cent allocated their capex towards other diverse investment strategies. It also indicated that nearly 49.6 per cent of private corporate sector enterprises undertook capex primarily for income generation in 2024-25.

The CNX Nifty is currently trading at 24345.70, up by 9.75 points or 0.04% after trading in a range of 24268.80 and 24395.20. There were 26 stocks advancing against 23 stocks declining on the index, while 1 stock remained unchanged. 

The top gainers on Nifty were HDFC Life Insurance up by 3.13%, Maruti Suzuki up by 2.29%, JIO Financial up by 1.70%, Power Grid Corp up by 1.57% and Sun Pharma up by 1.43%. On the flip side, Bajaj Finserv down by 5.67%, Bajaj Finance down by 5.43%, Tata Motors down by 3.13%, Trent down by 3.08% and SBI down by 2.78% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 205.39 points or 0.57% to 36,045.38, Hang Seng advanced 102.19 points or 0.46% to 22,110.30, Jakarta Composite gained 29.52 points or 0.44% to 6,778.60 and Straits Times rose 19.14 points or 0.5% to 3,824.32, while Taiwan Weighted was down by 2.4 points or 0.01% to 20,235.03, Shanghai Composite weakened 4.24 points or 0.13% to 3,282.41 and KOSPI was down by 8.81 points or 0.34% to 2,556.61.
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