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Key gauges continue to trade higher in morning deals
Apr-02-2025

Indian equity benchmarks added some gains and continued to trade higher in morning deals, driven by buying in blue-chip stocks such as Bharti Airtel, Maruti Suzuki and Tech Mahindra. Traders took support with a private survey showed India's manufacturing activity expanded at the fastest pace in eight months in March, rebounding from a more than one-year low due to strong domestic demand, while output inflation declined to its lowest in a year. The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, bounced to 58.1 in March from 56.3 in February, higher than a preliminary estimate of 57.6 and firmly above 50.0 which separates growth from contraction. However, there was some cautiousness too as exchange data showed the foreign institutional investors (FIIs) continued their selling for the second consecutive session on April 1 as they sold equities worth Rs 5,901 crore. 

On the global front, Asian markets are trading mixed as cautious undertone prevailed ahead of the U.S. tariffs announcement expected later in the day. Back home, on the sectoral front, stocks related to Defence sector remained in watch as Defence Minister Rajnath Singh said India's defence exports have surged to a record high of Rs 23,622 crore (approximately $2.76 billion) in 2024-25 registering a 12.04 per cent growth over the previous fiscal. 

The BSE Sensex is currently trading at 76358.44, up by 333.93 points or 0.44% after trading in a range of 76064.94 and 76498.82. There were 17 stocks advancing against 13 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.11%, while Small cap index was down by 0.32%.

The top gaining sectoral indices on the BSE were Realty up by 1.70%, Bankex up by 0.58%, TECK up by 0.56%, Auto up by 0.50% and Consumer Discretionary up by 0.33%, while PSU down by 1.18%, Capital Goods down by 1.04%, Power down by 0.95%, Industrials down by 0.91% and Utilities down by 0.85% were the top losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 1.92%, Maruti Suzuki up by 1.83%, Tech Mahindra up by 1.71%, HDFC Bank up by 1.40% and ICICI Bank up by 1.35%. On the flip side, Nestle down by 2.18%, Ultratech Cement down by 1.59%, NTPC down by 1.22%, Power Grid Corporation down by 1.07% and Hindustan Unilever down by 0.92% were the top losers.

Meanwhile, the government data has showed that Gross Goods and Services Tax (GST) collection grew 9.9 per cent in March 2025 to over Rs 1.96 lakh crore (Rs 19,56,034 crore) - the second-highest mop-up ever. GST revenue from domestic transactions rose 8.8 per cent to Rs 1.49 lakh crore, while revenue from imported goods was higher 13.56 per cent to Rs 46,919 crore. GST collection had hit a record high of Rs 2.10 lakh crore in April 2024.

According to data, the gross collection during March includes Central GST mop-up of Rs 38,145 crore, State GST collection of Rs 49,891 crore and Integrated GST (IGST) of Rs 95,853 crore. Cess collection during March stood at Rs 12,253 crore. Total refunds during March rose 41 per cent to Rs 19,615 crore.

After adjusting refunds, net GST revenue stood at over Rs 1.76 lakh crore in March 2025, a 7.3 per cent growth over the year-ago period. The Goods and Services Tax was introduced in the country with effect from July 1, 2017, and states were assured compensation for loss of any revenue arising on account of the implementation of GST. 

The CNX Nifty is currently trading at 23240.65, up by 74.95 points or 0.32% after trading in a range of 23158.45 and 23293.65. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were Tata Consumer Products up by 7.28%, Bharti Airtel up by 1.78%, Tech Mahindra up by 1.78%, Maruti Suzuki up by 1.58% and HDFC Bank up by 1.39%. On the flip side, Bharat Electronics down by 5.36%, Nestle down by 2.19%, JIO Financial Services down by 1.67%, Ultratech Cement down by 1.61% and Hindalco down by 1.49% were the top losers.

Asian markets are trading mixed; Shanghai Composite strengthened 7.97 points or 0.24% to 3,356.41, Nikkei 225 surged 112.91 points or 0.32% to 35,737.39 and Hang Seng advanced 14.99 points or 0.06% to 23,221.83. On the flip side, Taiwan Weighted lost 25.5 points or 0.12% to 21,254.67, KOSPI dropped 16.39 points or 0.65% to 2,505.00 and Straits Times fell 11.09 points or 0.28% to 3,957.76.
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