The key equity indices traded with decent gains in early trade, as investors turned their focus to a heavy lineup of earnings announcements, sectoral trends, and global cues. The Nifty traded above the 24,100 level. PSU bank, oil & gas, and consumer durables shares advanced, while IT and FMCG shares declined.
At 09:30 IST, the barometer index, the S&P BSE Sensex, surged 404.97 points or 0.50% to 79,599.15. The Nifty 50 index rose 87.25 points or 0.36% to 24,126.60.
In the broader market, the S&P BSE Mid-Cap index rose 0.42% and the S&P BSE Small-Cap index fell 0.20%.
The market breadth was negative. On the BSE, 1,111 shares rose and 1,655 shares fell. A total of 156 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,952.33 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,539.85 crore in the Indian equity market on 25 April 2025, provisional data showed.
Economy:
India’s foreign exchange reserves rose by $8 billion to a six-month high of $686 billion in the week ended April 18 on the back of a rise in gold reserves and foreign currency assets, the latest data by the Reserve Bank of India (RBI) showed.
Foreign currency assets increased by $3.5 billion in the previous week. The rupee appreciated by 0.8% during the week.
Gold reserves increased by $4.5 billion during the week.
The special drawing rights (SDRs) were up $212 million to $18.5 billion. India's reserve position with the International Monetary Fund (IMF) was also up by $7 million to $4.5 billion in the reporting week.
Stocks in Spotlight:
Tejas Networks tanked 9.98% after the company reported a consolidated net loss of Rs 71.80 crore in Q4 FY25 as against a net profit of Rs 146.78 crore posted in Q4 FY24. Total revenue from operations soared to Rs 1,906.94 crore in Q4 FY25 from Rs 1,326.88 crore recorded in the corresponding quarter the previous year. Meanwhile, the board has recommended a dividend of 25% (Rs 2.5/share), subject to the approval of the shareholders.
Kamat Hotels (India) tumbled 5.90%. The company reported a 412.09% surge in consolidated net profit to Rs 11.01 crore on a 9.41% rise in revenue from operations to Rs 92.46 crore in Q4 FY25 over Q4 FY24.
Bank of Maharashtra rose 1.20% after the bank reported a standalone net profit of Rs 1,493.08 crore in Q4 FY25, registering a growth of 22.61% as against Rs 1,217.67 crore posted in Q4 FY24. Total income jumped 18.85% to Rs 7,711.44 crore in the fourth quarter of FY25 as against Rs 6,488.25 crore posted in the corresponding quarter the previous year.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 1.59% to 6.464 as compared with previous close 6.360.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.3600, compared with its close of 85.4150 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement shed 0.07% to Rs 94,965.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.16% to 99.63.
The United States 10-year bond yield declined 0.52% to 4.244.
In the commodities market, Brent crude for May 2025 settlement rose 15 cents, or 0.22% to $67.02 a barrel.
Global Markets:
The Dow Jones index futures were down 171 points, hinting at a weak opening in US stocks today.
Asian markets traded mixed on Monday as investors assessed China’s promises to support domestic businesses as well as developments in trade negotiations between the U.S. and countries in the region.
Over the weekend, China’s finance minister, Lan Fo’an, tried to play economic cheerleader, promising that Beijing would roll out "more proactive macroeconomic policies" to hit its full-year growth targets — and, by extension, lend a helping hand to the global economy’s recovery efforts.
More details could be just around the corner, with Chinese authorities scheduled to host a press conference later today.
Meanwhile, trade tensions are back in the spotlight. Investors are watching developments between the U.S. and its trading partners closely after President Donald Trump, according to the media, suggested he’s not keen on hitting the brakes on his "reciprocal tariffs" strategy anytime soon.
Over on Wall Street, optimism made a small comeback on Friday. Tech stocks led the charge, pushing most major indexes higher. The S&P 500 wrapped up the day with a solid 0.74% gain, the Nasdaq jumped 1.26%, and even the lagging Dow Jones managed a tiny 0.05% uptick. Meanwhile, the dollar posted its first weekly rise in over a month, as traders hunted for any clue that the U.S.-China economic standoff might be losing steam.