In the week ended on Thursday, 17 April 2025, the S&P BSE Sensex zoomed 3,395.94 points or 4.51% to settle at 78,553.20. The Nifty 50 index surged 1,023.1 points or 4.48% to settle at 23,851.65. The BSE Mid-Cap index rallied 4.23% to close at 41,980.48. The BSE Small-Cap index jumped 4.69% to end at 47,946.66.

Weekly Index Movement:

The stock market was shut on Monday, 14 April 2025, on account of Dr. Babasaheb Ambedkar Jayanti.

The key equity indices ended with major gains on Tuesday. The S&P BSE Sensex, surged 1,577.63 points or 2.10% to 76,734.89. The Nifty 50 index rallied 500 points or 2.19% to 23,328.55.

The key equity indices ended with modest gains on Wednesday. The S&P BSE Sensex, advanced 309.40 points or 0.40% to 77,044.29. The Nifty 50 index added 108.65 points or 0.47% to 23,437.20.

The key equity indices ended with strong gains on Thursday. The S&P BSE Sensex, surged 1,508.91 points or 1.96% to 78,553.20. The Nifty 50 index jumped 414.45 points or 1.77%, to 23,851.65.

The stock market will remain closed on Friday, 18 April 2025, in observance of Good Friday.

Economy:

India’s wholesale inflation, based on the Wholesale Price Index, eased to 2.05% in March as compared with 2.38% in February. It had stood at 0.26% in March 2024. “Positive rate of inflation in March, 2025 is primarily due to increase in prices of manufacture of food products, other manufacturing, food articles, electricity, manufacture of textiles, etc.," the industry ministry said in a statement.

India recorded a trade deficit of $21.54 billion in March of 2025, widening from the $15.6 billion gap in the corresponding period of the previous year. Imports surged by 11.4% annually to $63.51 billion, the highest ever for the month, despite the relatively low price of fuel that makes up a large portion of India's foreign purchases. In the meantime, exports rose by a much-softer 0.7% to $41.97 billion.

India’s retail inflation, based on the Consumer Price Index (CPI), fell to 3.34% in March 2025, to mark a fifth consecutive slowdown to the lowest inflation rate since August 2019. The CPI inflation had stood at 3.61% in February 2025 and 4.38% in March 2024.

The inflation is below the Reserve Bank of India's 4% target midpoint. A major driver of the decline was softening food inflation, which dropped to 2.69% from 3.75% in February. This came amid deflationary trends in categories such as eggs, spices, vegetables, and pulses, which together make up nearly half of India’s price basket.

Stocks in Spotlight:

Wipro fell 1.20%. The domestic broker downgraded the stock to a ‘Hold’ and slashed its target price to Rs 260 from Rs 300.

The brokerage flagged the IT major's weak Q4FY25 quarter, with IT services revenue falling short of expectations. It also pointed to subdued Q1FY26 revenue guidance, reflecting macro uncertainties from global tariffs. With limited visibility on FY26 growth, the brokerage said Wipro’s turnaround thesis looks challenged.

Another domestic broker also downgraded Wipro to ‘Reduce,’ with a target price of Rs 252. The brokerage expects a potential demand recovery later in Q1FY26, particularly if global tariff-related disputes are resolved. However, a weak start makes full-year positive growth a challenge. Margins are expected to remain under pressure due to a soft revenue environment, pricing constraints from cost takeout deals, and vendor consolidation, it added.

On Wednesday, the IT major announced that its consolidated net profit grew 6.43% to Rs 3,569.6 crore in Q4 FY25 as against Rs 3,353.8 crore posted in Q3 FY25. However, revenue from operations increased marginally to Rs 22,504.2 crore in Q4 FY25 as against Rs 22,318.8 crore reported in Q3 FY25.

HDFC Asset Management Company advanced 5.72%. The company’s standalone net profit rose 18.04% to Rs 638.73 crore on 20.46% surge in total income to Rs 1,025 crore in Q4 FY25 over Q4 FY24. Revenue from operations in the fourth quarter of FY25 stood at Rs 901.22 crore, registering a growth of 29.59% year on year (YoY).

Meanwhile, the company’s board has recommended a final dividend of Rs 90 per equity share for the financial year ended 31 March 2025, subject to approval by the shareholders at the upcoming Annual General Meeting. If approved, the final dividend will be dispatched or remitted within the applicable regulatory timelines following the annual general meeting.

Infosys rose 0.68%. The company reported an 11.74% decline in consolidated net profit to Rs 7,033 crore in Q4 FY25, compared to Rs 7,969 crore in the same period last year. Revenue from operations rose 7.9% year on year to Rs 40,925 crore in Q4 FY25.

Meanewhile, the company’s board has recommended a final dividend of Rs 22 per equity share for the financial year ended 31 March 2025. The record date for the purpose of the annual general meeting and payment of final dividend is 30 May 2025. The dividend will be paid on 30 June 2025.

HDFC Life Insurance Company jumped 5.07%. The company reported a 15.76% jump in standalone net profit to Rs 476.54 crore on 16% increase in net premium income to Rs 23,765.56 crore in Q4 FY25 over Q4 FY24.Revenue from operations in the fourth quarter of FY25 stood at Rs 901.22 crore, registering a growth of 29.59% year on year (YoY).

The company's board recommended final dividend of Rs 2.10 per equity share for the financial year 2024-25, subject to approval of the shareholders’ at the ensuing annual general meeting of the company. The record date for the purpose of ascertaining the entitlement of the shareholders’ for the final dividend shall be Friday, 20 June 2025. The payment of final dividend will be made on or after 21 July 2025, subject to deduction of tax at source at applicable rate.

ICICI Bank surged 7.22%. The bank said that its board is scheduled to meet on 19 April 2025, to consider raising funds on a private placement basis.

Swaraj Engines rallied 7.51%. The company's net profit surged 29.10% to Rs 45.42 crore in Q4 FY25 as against Rs 35.18 crore posted in Q4 FY24. Revenue from operations climbed 29.40% to Rs 454.16 crore recorded in the quarter ended 31 March 2025.

The board has recommended a dividend of Rs 104.50 per share for the financial year ended 31 March 2025.

Meanwhile, the company’s board has approved an expansion plan to increase its annual engine manufacturing capacity from 1.95 lakh to 2.4 lakh units, anticipating rising future demand. The Rs 220 crore investment, fully funded through internal reserves, will be used to set up a new advanced assembly line and upgrade the existing machine shop at its Mohali facility. The expansion, expected to be completed over 24–27 months, will also enable the company to produce modern technology engines tailored to the specifications of its key customer.

Angel One gained 4.12%. The company’s consolidated net profit declined 48.7% to Rs 174.52 crore on a 22.1% fall in total revenue from operations to Rs 1,056.01 crore in Q4 FY25 over Q4 FY24.

Meanwhile, the company’s board declared a final dividend of Rs 26 per equity share for FY25. The said dividend will be paid within 30 days from the date of the Annual General Meeting (AGM).

Lupin shed 1.75%. The company announced that it has received the Establishment Inspection Report (EIR) from the U.S. Food and Drug Administration (USFDA) for drug–medical device combination products at its injectable facility in Nagpur, India.

Vedanta surged 5.18%. The Assam's Chief Minister Himanta Biswa Sarma met with the company to strategize the implementation of their Rs 50,000 crore investment plan in the state. In February, Vedanta Group Chairman Anil Agarwal announced that the firm would pump in Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next 3-4 years. Agarwal announced this while speaking at the Advantage Assam 2.0 summit in February.

G M Breweries soared 7.46%. The company reported a 30.22% drop in net profit to Rs 60.46 crore in Q4 FY25 as against Rs 86.64 crore posted in Q4 FY24. However, revenue from operations (excluding excise duty) grew by 5.93% year on year to Rs 169.33 crore in the quarter ended 31 March 2025.

Indusind Bank zoomed 15.33%. The bank’s external audit allayed investor fears regarding a significant discrepancy in the bank’s derivative portfolio. The rally comes after a global audit firm completed an independent review of IndusInd’s books, quantifying the discrepancy at Rs 1,979 crore as of 30 June 2024. Crucially, the post-tax impact on the bank’s net worth is pegged at 2.27% as of December 2024—marginally better than the bank’s own internal estimate of 2.35% disclosed last month.

Indian Renewable Energy Development Agency (IREDA) jumped 12.45%. The company’s consolidated net profit jumped 48.66% to Rs 501.55 crore on a 36.93% increase in revenue from operations to Rs 1,905.06 crore in Q4 FY25 over Q4 FY24.

ICICI Lombard General Insurance Company added 4.29%. The company’s net profit slipped 1.90% to Rs 509.59 crore in Q4 FY25 as against Rs 519.5 crore in Q4 FY24. However, total income jumped 13.27% to Rs 5,851.17 crore in Q4 FY25 as against Rs 5,165.35 crore in the corresponding quarter last year.

ICICI Prudential Life Insurance Company soared 7.93%. The reported 122.31% surge in standalone net profit to Rs 386.29 crore in Q4 FY25 as against Rs 173.76 crore posted in Q4 FY24. However, total income tumbled 30.79% YoY to Rs 15,637.51 crore in the quarter ended 31 March 2025.

GTPL Hathway added 4.85%. The company’s consolidated net profit slipped 19.27% to Rs 10.64 crore in Q4 FY25, compared with Rs 13.18 crore in Q4 FY24. Revenue from operations increased 10.27% to Rs 890.99 crore in Q4 FY25, compared with Rs 807.98 crore posted in the corresponding quarter last year.

Gensol Engineering tanked 11.78%. The investor confidence continued to crumble in the wake of a major fraud exposure by the Securities and Exchange Board of India (SEBI).

The meltdown follows a damning interim order issued by SEBI on 15 April 2025, which accused Gensol’s promoters — Anmol Singh Jaggi and Puneet Singh Jaggi — of diverting massive funds meant for electric vehicle procurement.

SEBI’s probe, which was initiated after a complaint in June 2024, unearthed significant misuse of Rs 977.75 crore in loans secured from IREDA and PFC. These funds were meant to finance the purchase of 6,400 electric vehicles. However, only 4,704 EVs were actually acquired, leaving over Rs 207 crore unaccounted for.

Venus Remedies surged 9.58%. The company said its investigational drug candidate VRP-034 has received Qualified Infectious Disease Product (QIDP) designation from the US drug regulator.

Bajaj Electricals jumped 7.12%. The company signed an exclusive agreement with Slovakian firm SEAK s.r.o. to manufacture and supply advanced lighting control products for tunnel infrastructure in India.

Global Markets:

In Europe the U.K. employment rate ticked 0.2 percentage points higher to 75.1% for the quarter between December 2024 and February 2025, according to the Office for National Statistics, as reported in a labor market update published Tuesday. An initial estimate showed that the number of payrolled employees fell by 0.3% month-on-month and 0.2% year-on-year in March.

Average annual wage growth, excluding bonuses, came in at 5.9% for December to February, up from 5.8% in November to January. Including bonuses, wage growth was 5.6%.

Eurozone inflation decreased to 2.2% in March 2025, according to the latest data from Eurostat on Wednesday, down from 2.3% in February 2025. U.K. inflation for March came in at 2.6%, according to figures published by the Office for National Statistics on Wednesday.

Traders awaited the latest monetary policy decision from the European Central Bank. The European Central Bank is expected to make yet another interest rate cut today as global tariff turmoil has created widespread uncertainty and spurred fears about the eurozone’s economic growth.

In Japan, exports rose by 3.9% year-on-year in March, marking the sixth consecutive month of growth. Imports increased by 2% over the same period, resulting in a trade surplus of 544.1 billion yen (approximately $3.84 billion).