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Bourses extend gains in early afternoon session
Apr-02-2025

Indian equity markets extended their gains in early afternoon session as traders opted for value buying. Investors were prepared for upcoming Trump's Liberation Day. Upcoming Liberation Day of Donald Trump where he will announce a host of tariffs on imported goods and products. Traders continued to get support as India's manufacturing sector growth rose to an eight-month high in March, driven by quicker increases in factory orders and production amid buoyant demand conditions. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) was at 58.1 in March, up from 56.3 in February, indicating a substantial improvement in the health of the sector that was above its long-run average.  On the global front, Asian markets are trading mostly in red as South Korea's consumer price inflation rose slightly in March. The consumer price index grew 2.1 percent on a yearly basis in March, faster than the 2.0 percent increase in February. Inflation was forecast to remain unchanged at 2.0 percent.

The BSE Sensex is currently trading at 76507.64, up by 483.13 points or 0.64% after trading in a range of 76064.94 and 76567.02. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.87%, while Small cap index was up by 0.63%.

The top gaining sectoral indices on the BSE were Realty up by 2.72%, Consumer Durables up by 1.54%, Consumer Discretionary up by 1.11%, TECK up by 0.95% and FMCG was up by 0.82%, while Capital Goods down by 0.25%, Energy down by 0.14%, PSU down by 0.13%, Oil & Gas down by 0.09% and Utilities was down by 0.08% were the top losing indices on BSE.

The top gainers on the Sensex were Indusind Bank up by 3.24%, Eternal up by 2.28%, Titan Company up by 2.03%, Maruti Suzuki up by 1.77% and Tech Mahindra up by 1.51%. On the flip side, Ultratech Cement down by 1.24%, Nestle down by 1.09%, NTPC down by 0.88%, Power Grid down by 0.67% and Asian Paints down by 0.37% were the top losers.

Meanwhile, recovering the ground lost in February, India's manufacturing sector growth picked up to its highest in eight months in March as a faster upturn in total sales underpinned a sharper increase in output. March's acceleration came despite a mild slowdown in international order growth. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 58.1 in March as against 56.3 in February. 

The report further said that buoyant demand led companies to tap into their inventories to meet increased client appetite, resulting in the most rapid decline in finished goods stocks since January 2022. Firms aimed to counter declining stock levels by acquiring additional inputs for their production processes at the quickest pace seen in seven months. 

On the price front, cost burdens rose further, amid higher prices for copper, electronic items, leather, LPG and rubber. The overall rate of inflation accelerated to a three-month high, but was well below its long-run average. However, there was a softer increase in prices charged for Indian goods. March's rise was moderate and the weakest in exactly one year.

As per the survey report, pre-production inventories rose sharply in March and at the quickest pace in five months. Finally, favourable demand conditions, better customer relations and projects pending approval underpinned upbeat forecasts for output levels in the coming 12 months.

The CNX Nifty is currently trading at 23291.30, up by 125.60 points or 0.54% after trading in a range of 23158.45 and 23311.90. There were 31 stocks advancing against 19 stocks declining on the index.

The top gainers on Nifty were Tata Consumer up by 7.24%, Indusind Bank up by 3.22%, Eternal up by 2.32%, Titan Company up by 2.01% and Maruti Suzuki up by 1.75%. On the flip side, Bharat Electronics down by 3.87%, Hindalco down by 1.27%, Ultratech Cement down by 1.27%, Nestle down by 1.14% and Dr. Reddy's Lab down by 1.04% were the top losers.

Asian markets are trading mostly in red; Hang Seng declined 72.47 points or 0.31% to 23,134.37, KOSPI dropped 15.53 points or 0.62% to 2,505.86, Straits Times fell 15.49 points or 0.39% to 3,953.36 and Shanghai Composite was down by 3.9 points or 0.12% to 3,344.54. On the flip side, Taiwan Weighted added 18.05 points or 0.08% to 21,298.22 and Nikkei 225 was up by 101.39 points or 0.28% to 35,725.87.
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