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EQUITY
Post Session: Quick Review
Apr-24-2025

Indian equity markets snapped seven day’s winning streak on monthly F&O expiry day, with both the Nifty and Sensex closing below their neutral line, as investors reacted to mixed signals from the Trump administration on its plans for China tariffs. Indices made flat-to-negative start, amid escalating geopolitical tensions between India and Pakistan following the Pahalgam terror attack. However, downside remained capped supported by sustained foreign institutional investor (FII) buying. In afternoon session, indices extended their losses to end in negative terrain dragged by profit booking in most of the heavyweights’ stocks.

Some of the important factors in trade:

World Bank lowers India's growth forecast for FY26: Traders remained cautious as the World Bank in its latest ‘South Asia Development Update’ has lowered India’s economic growth forecast for 2025-26 by 40 basis points to 6.3 per cent, over global economic weakness and policy uncertainty.

US tariffs to hit India's growth directly: Some cautiousness came as Finance Secretary Ajay Seth reportedly said the direct hit from tariffs introduced by Donald Trump’s administration on India could shave off between 0.2% and 0.5% from GDP growth.

FIIs inflows in the domestic markets: Traders overlooked continuous foreign fund inflows. Foreign Institutional Investors (FIIs) bought equities worth Rs 3,332.93 crore on Wednesday.

Global front: European markets were trading in red amid uncertainty about U.S. tariffs on China and other countries, and on a mixed batch of earnings updates from European companies. Asian markets ended mostly in red as trade war concerns resurfaced following mixed signals from the Trump administration regarding easing tariffs on Chinese imports. 

The BSE Sensex ended at 79801.43, down by 315.06 points or 0.39% after trading in a range of 79724.55 and 80173.92. There were 12 stocks advancing against 17 stocks declining on the index, while one stock remained unchanged. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.16%, while Small cap index down by 0.01%. (Provisional)

The few gaining sectoral indices on the BSE were Basic Materials up by 0.63%, Healthcare up by 0.55% and Metal up by 0.26%, while Realty down by 1.39%, FMCG down by 0.82%, TECK down by 0.59%, Consumer Discretionary down by 0.33% and Bankex down by 0.31% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Indusind Bank up by 3.29%, Ultratech Cement up by 1.77%, Tata Motors up by 1.18%, Titan Company up by 0.97% and Sun Pharma up by 0.96%. On the flip side, Hindustan Unilever down by 4.01%, Bharti Airtel down by 1.85%, ICICI Bank down by 1.57%, Eternal down by 0.98% and Mahindra & Mahindra down by 0.60% were the top losers. (Provisional)

Meanwhile, the Reserve Bank of India (RBI) has relaxed norms to facilitate export through warehouses in 'Bharat Mart', a multimodal logistics network-based marketplace in the United Arab Emirates (UAE), that will provide Indian traders, exporters, and manufacturers access to the markets around the world. The RBI said banks may allow exporters to realise and repatriate full export value of goods exported to 'Bharat Mart' within nine months from the date of sale of the goods from the warehouse.

Further, banks have been asked to allow opening/hiring of a warehouse in 'Bharat Mart' by an Indian exporter with a valid importer exporter code without any pre-conditions, after verifying the reasonableness of the same. It also applies on remittances by the Indian exporter for initial as well as recurring expenses for setup and continuing business operations of its offices.

Recently, the commerce ministry data had showed that India's merchandise exports, after four months of decline, turned positive and grew marginally by 0.7 per cent to $41.97 billion in March 2025 as compared to $ 41.69 billion in March 2024. Besides, merchandise imports increased by 11.3 per cent to $63.51 billion in March 2025 as compared to $57.03 billion in March 2024. The trade deficit, or the gap between imports and exports, widened to $21.54 billion in March 2025. The trade deficit in February 2025 was $14.05 billion. In March 2024, it stood at $15.33 billion. 

The CNX Nifty ended at 24246.70, down by 82.25 points or 0.34% after trading in a range of 24216.15 and 24347.85. There were 19 stocks advancing against 31 stocks declining on the index. (Provisional) 

The top gainers on Nifty were Indusind Bank up by 3.22%, Ultratech Cement up by 1.76%, Grasim Industries up by 1.67%, Cipla up by 1.32% and Dr. Reddy's Lab up by 1.22%. On the flip side, Hindustan Unilever down by 4.06%, Bharti Airtel down by 1.91%, Eicher Motors down by 1.88%, ICICI Bank down by 1.64% and ONGC down by 1.05% were the top losers. (Provisional)

European markets were trading lower; Germany’s DAX lost 116.49 points or 0.53% to 21,845.48, France’s CAC fell 36.47 points or 0.49% to 7,445.89 and UK’s FTSE 100 decreased 14.08 points or 0.17% to 8,389.10.

Asian markets settled mostly down on Thursday as doubts over a de-escalation in the US-China trade war persisted after US Treasury Secretary Scott Bessent said there were no plans for US President Donald Trump to move first in lowering tariffs to ease Sino-US tensions, echoing comments from White House spokesperson Karoline Leavitt that there will be no unilateral reduction in tariffs against China. Hong Kong shares declined, led by technology shares. Although, Japanese shares gained on potential tariff negotiations between Japan and the United States. Chinese shares gained marginally after China issued the first batch of special sovereign bonds for 2025 as part of the stimulus announced by authorities to soften the blow from simmering trade tensions with the United States. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,297.29

0.93

0.03

Hang Seng

21,909.76

-162.86

-0.74

Jakarta Composite

6,613.48

-20.90

-0.32

KLSE Composite

1,506.52

5.33

0.36

Nikkei 225

35,039.15

170.52

0.49

Straits Times

3,831.92

-0.40

-0.01

KOSPI Composite

2,522.33

-3.23

-0.13

Taiwan Weighted

19,478.81

-160.33

-0.82
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