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Bourses trade mixed in early afternoon session
May-02-2025

Indian equity markets traded mixed in early afternoon session. Sensex traded in green, while Nifty traded in red. Traders took note of report that India's manufacturing sector growth improved in the month of April, with output increasing at the fastest pace since June 2024 on the back of another strong expansion in order books. Besides, total sales were supported by the second-fastest upturn in international orders since March 2011. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 58.2 in April as against 58.1 in March.  On the global front, Asian markets were trading in green as China said it is assessing the possibility of trade talks with the US, the first sign since Donald Trump hiked tariffs last month that negotiations could begin between the two sides.

The BSE Sensex is currently trading at 80359.73, up by 117.49 points or 0.15% after trading in a range of 80235.36 and 81177.93. There were 17 stocks advancing against 13 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index declined 0.51%, while Small cap index was down by 0.03%.

The top gaining sectoral indices on the BSE were Oil & Gas up by 0.36%, Energy up by 0.25%, Bankex up by 0.23%, IT up by 0.16% and Capital Goods was up by 0.06%, while Telecom down by 2.22%, Consumer Durables down by 1.45%, Metal down by 1.05%, Power down by 0.96% and Utilities was down by 0.86% were the top losing indices on BSE.

The top gainers on the Sensex were Adani Ports up by 4.44%, Indusind Bank up by 1.46%, Maruti Suzuki up by 1.43%, ICICI Bank up by 1.16% and Tata Motors up by 0.87%. On the flip side, Nestle down by 1.92%, Bharti Airtel down by 1.43%, Bajaj Finserv down by 1.38%, NTPC down by 1.26% and Kotak Mahindra Bank down by 1.17% were the top losers.

Meanwhile, commerce ministry in its latest data has showed that India's exports of goods and services hit an all-time high of $825 billion in 2024-25, growing by 6 per cent over the previous year's $778.1 billion, driven by a record surge in the shipments of services that reached $386.5 billion in the last fiscal despite global trade headwinds.

Following the release of March services exports data by the RBI, the country's overall exports for 2024-25 have been revised to $824.9 billion from the earlier estimate of $820.93 billion, announced on April 15, 2025. Total exports were worth $778.13 billion in 2023-24. The data showed that services exports jumped to a record high of $387.5 billion in 2024-25, registering a robust 13.6 per cent growth over $341.1 billion in 2023-24. In March, services shipments rose by 18.6 per cent to $35.6 billion compared to $30 billion in March 2024. The main sectors which contributed to the growth in exports included telecommunication, computer and information services; transport; travel; and financial services.

Commenting on the data, Federation of Indian Export Organisations (FIEO) SC Ralhan said that the data shows the resilience of exporters. However, he said that as of today, the inflow of orders is not good from the US and Europe. He said the US importers are waiting for the trade agreement and this can affect our exports, and added that the government should immediately announce an interest subvention scheme for exporters. He said ‘interest rates are high in the country and to become competitive in the global markets, we need a minimum 5 per cent subvention’.

The CNX Nifty is currently trading at 24303.00, down by 31.20 points or 0.13% after trading in a range of 24281.40 and 24589.15. There were 19 stocks advancing against 31 stocks declining on the index.

The top gainers on Nifty were Adani Ports up by 4.36%, Maruti Suzuki up by 1.40%, Indusind Bank up by 1.34%, Hindalco up by 0.96% and Eternal up by 0.90%. On the flip side, JSW Steel down by 6.38%, Eicher Motors down by 3.18%, Bajaj Auto down by 2.65%, Nestle down by 2.02% and HDFC Life Insurance down by 1.78% were the top losers.

Asian markets were trading in green; Taiwan Weighted added 552.61 points or 2.66% to 20,787.64, Hang Seng advanced 392.36 points or 1.74% to 22,511.77, Nikkei 225 surged 378.39 points or 1.03% to 36,830.69, Jakarta Composite gained 22.69 points or 0.33% to 6,789.49, Straits Times rose 11.74 points or 0.31% to 3,844.25 and KOSPI was up by 3.18 points or 0.12% to 2,559.79.
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