Barring the IT index, all the sectoral indices on the NSE were ended in green, with Oil & Gas, PSU bank and pharma shares gaining the most.

This week, investors will closely watch the monthly auto sales data, Index of Industrial Production (IIP) data, and HSBC Manufacturing PMI data. On the corporate earnings front, major companies including Kotak Mahindra Bank, State Bank of India (SBI), and Bajaj Finance are scheduled to announce their results later this week.

As per provisional closing, the barometer index, the S&P BSE Sensex, zoomed 1,005.84 points or 1.27% to 80,218.37. The Nifty 50 index soared 298.75 points or 1.20% to 24,328.50.

In the broader market, the S&P BSE Mid-Cap index gained 1.34% and the S&P BSE Small-Cap index rose 0.39%.

The market breadth was positive. On the BSE, 1,961 shares rose and 2,034 shares fell. A total of 184 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 1.26% to 16.94.

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.

IPO Update:

The initial public offer of Ather Energy received bids for 77,76,852 shares as against 5,33,63,160 shares on offer, according to stock exchange data at 15:25 IST on 28 April 2025. The issue was subscribed 0.15 times.

The issue opened for bidding on 28 April 2025 and it will close on 30 April 2025. The price band of the IPO is fixed between Rs 304 and Rs 321 per share. An investor can bid for a minimum of 46 equity shares and in multiples thereof.

Ather Energy, incorporated in 2013, is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, smart accessories, and supporting software systems.

Buzzing Index:

The Nifty Oil & Gas index rallied 3.18% to 11,132.10. The index slipped 1.53% in the past two consecutive trading sessions.

Reliance Industries (up 5.27%), Bharat Petroleum Corporation (up 4.92%), Mahanagar Gas (up 4.17%), Indraprastha Gas (up 4.16%), Hindustan Petroleum Corporation (up 3.1%), Castrol India (up 3.02%), Adani Total Gas (up 2.9%), Oil & Natural Gas Corpn (up 1.6%), Oil India (up 1.45%) and GAIL (India) (up 1.42%) added.

Reliance Industries (RIL) rallied 5.27% after the company’s consolidated profit after tax and share of profit/(loss) of associates & JVs increased by 6.4% year-on-year to Rs 22,611 crore in Q4 March 2025 over Q4 March 2024.

During the quarter, RIL's gross revenue increased by 8.8% Y-o-Y to Rs 288,138 crore, while EBITDA increased by 3.6% Y-o-Y to Rs 48,737 crore. EBITDA margin contracted by 90 basis points Y-o-Y and by 1.1% quarter-on-quarter to 16.9%.

Meanwhile, RIL's board approved raising up to Rs 25,000 crore through issuance of listed, secured/unsecured, redeemable non-convertible debentures, in one or more tranches, on private placement basis. It also recommended a dividend of Rs 5.50 per equity share for the financial year ended 31 March 2025.

Further, the board approved acquisition of 100% equity stake of Kandla GHA Transmission Limited ("KGTL"), from PFC Consulting Limited ("PFCCL"), for an aggregate consideration not exceeding Rs 20 crore. This is in accordance with the terms of the tender awarded to the company, for establishment of turnkey construction of 765/400kV GIS substation at Kandla including transformers and reactors, 765kV transmission lines between Halvad and Kandla, 765kV Bay extension at Halvad and STATCOM. Post acquisition, KGTL will become a wholly owned subsidiary of the company. KGTL was incorporated in India on 27 November 2024 and is yet to commence commercial operations.

The said investment will enable the company to execute the Independent Transmission Project (ITP) "Transmission System for Supply of Power to Green Hydrogen / Ammonia manufacturing potential in Kandla area of Gujarat (Phase-I: 3 GW)".

Stocks in Spotlight:

UltraTech Cement shed 0.89%. The cement major’s consolidated net profit rallied 9.92% to Rs 2,482.04 crore on a 12.95% increase in revenue from operations to Rs 23,063.32 crore in Q4 FY25 over Q4 FY24.

Meanwhile, the board of directors of the company recommended a dividend of Rs 77.50 per equity share of face value Rs 10 each.

Mangalore Refinery & Petrochemicals (MRPL) slipped 1.17% after the company reported 68.05% decline in standalone net profit to Rs 363.14 crore in Q4 FY25 as against Rs 1,136.84 crore posted in Q4 FY24. Revenue from operations (excluding excise duty) declined 2.89% YoY to Rs 24,595.87 crore in the quarter ended 31 March 2025.

TVS Motor Company advanced 1.47% after its standalone net profit surged 75.53% to Rs 852.12 crore on 16.91% increase in revenue from operations to Rs 9,550.44 crore in Q4 FY25 over Q4 FY24.

IDBI Bank advanced 2.70% after the bank’s standalone net profit jumped 25.95% to Rs 2,051.18 crore on 14.56% rise in total income to Rs 9,035.29 crore in Q4 FY25 over Q4 FY24.

RBL Bank soared 10.25% after the bank reported a reduction in its gross non-performing assets (GNPA) and net non-performing assets (NNPA) ratios in Q4 March 2025.

The private lender's standalone net profit tumbled 80.52% to Rs 68.70 crore in Q4 FY25 as against Rs 352.64 crore posted in Q4 FY24. Total income increased 6.19% year on year (YoY) to Rs 4,475.60 crore in the quarter ended 31 March 2025.

IDFC First Bank rose 0.48%. The bank reported 58.02% decline in standalone net profit to Rs 304.08 crore in Q4 FY25 as against Rs 724.35 crore posted in Q4 FY24. Total income during the quarter increased 14.67% YoY to Rs 11,308.35 crore.

Rossari Biotech shed 0.97%. The company’s consolidated net profit rose marginally to Rs 34.44 crore in Q4 FY25 as against Rs 34.13 crore posted in Q4 FY24. Revenue from operations jumped 22.60% to Rs 579.56 crore in the fourth quarter of FY25 as against Rs 472.72 crore posted in the corresponding quarter last year.

SML Isuzu hit a lower limit of 10% after Mahindra & Mahindra announced plans to acquire a 58.96% stake in the company at Rs 650 per share, aggregating to Rs 555 crore.

Mahindra & Mahindra (M&M) entered into an agreement with the Sumitomo Corporation, Japan, and SML Isuzu for acquiring 63,62,306 equity shares, representing 43.96% of the equity share capital of SML Isuzu. The share would be acquired at Rs 650 apiece and the aggregate consideration for the same would be Rs 413.55 crore. M&M has also inked an agreement with Isuzu Motors, Japan, for acquiring 21,70,747 equity shares (representing 15% stake in SML Isuzu) for a total consideration of Rs 141.10 crore.

In addition M&M launched an obligatory open offer to acquire up to 26% stake of SML Isuzu from eligible public shareholders. The shares would be acquired at Rs 1,554.60 per share, which is at a discount of 12.01% to the scrip's previous close of Rs 1,766.70, dampening investor sentiment and triggering a sell-off.

UGRO Capital fell 1.22%. The company reported 24.04% jump in standalone net profit to Rs 40.55 crore in Q4 FY25 as against Rs 32.69 crore posted in Q4 FY24. Total income increased 24.83% YoY to Rs 412.44 crore in the quarter ended 31 March 2025.

Tejas Networks slumped 13.05% 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.

Bank of Maharashtra rose 1.64% 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.

Lloyds Metal and Energy slumped 3.20% after the company’s consolidated net profit fell 27.1% to Rs 201.88 crore on 23.49% decline in revenue from operations to Rs 1,182.66 crore in Q4 FY25 over Q4 FY24.

Indian Railway Finance Corporation (IRFC) declined 1.17% after the company’s net profit fell by 2.06% to Rs 1,681.87 crore in Q4 FY25 as against Rs 1,717.32 crore posted in Q4 FY24. Total revenue from operations rose by 3.83% year on year (YoY) to Rs 6,722.83 crore in the quarter ended 31 March 2025.

Zensar Technologies added 2.66% after the company’s consolidated net profit jumped 10.39% to Rs 176.4 crore on 2.51% increase in revenue from operations to Rs 1358.9 crore in Q4 FY25 over Q3 FY25.

Global Markets:

European markets surged on Monday, as investors prepared for a busy week of earnings and economic data releases in both Europe and the U.S. Focus will be on Wednesday's GDP and inflation data from France and Germany, along with earnings reports from major companies such as HSBC, BP, Deutsche Bank, and Shell.

Asian markets ended mixed 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.