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Benchmarks continue to trade higher ahead of US trade policy announcement
Apr-02-2025

Indian bourses continued to trade higher in late afternoon session as optimism raised in domestic markets after reports indicating 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. However, the gains remained capped as the traders opted to avoid risky trade and awaits Trump’s trade policy announcement for further clarity.

On the global front, Asian equity markets were trading mixed, while the European equity markets were trading lower.

The BSE Sensex is currently trading at 76501.64, up by 477.13 points or 0.63% after trading in a range of 76064.94 and 76567.02. There were 16 stocks advancing against 14 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index up by 1.17%, while Small cap index was up by 0.86%.

The top gaining sectoral indices on the BSE were Realty up by 3.36%, Consumer Durables up by 2.37%, Consumer Disc up by 1.49%, Telecom up by 1.10% and FMCG up by 1.04%, while Capital Goods down by 0.13% was the lone losing indices on BSE.

The top gainers on the Sensex were Eternal up by 4.03%, Titan Company up by 3.68%, Indusind Bank up by 2.63%, Tech Mahindra up by 2.10% and Maruti Suzuki up by 1.78%. On the flip side, Ultratech Cement down by 1.27%, Power Grid Corporation Of India down by 0.90%, Nestle down by 0.74%, Asian Paints down by 0.62% and HCL Technologies down by 0.58% were the top losers.

Meanwhile, Defence Minister Rajnath Singh has said that 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. India's defence exports were Rs 21,083 crore in 2023-24. 

The minister said that the country is poised to achieve the target of Rs 50,000 crore in defence exports by 2029. He said under PM Narendra Modi's leadership, India is marching towards achieving the target of increasing defence exports to Rs 50,000 crore by 2029. 

The defence ministry said the Defence Public Sector Undertakings (DPSUs) have shown a significant increase of 42.85 per cent in their exports in 2024-25. It said the surge in the DPSU's exports reflected the growing acceptability of Indian products in the global market and the ability of the country's defence industry to be a part of the global supply chain. 

The private sector and DPSUs have contributed Rs 15,233 crore and Rs 8,389 crore respectively in defence exports of 2024-25. The corresponding figures for 2023-24 were Rs 15,209 crore and Rs 5,874 crore respectively. India has evolved from a largely import-dependent military force to one increasingly focused on self-reliance and indigenous production.

The CNX Nifty is currently trading at 23303.90, up by 138.20 points or 0.60% after trading in a range of 23158.45 and 23311.90. There were 29 stocks advancing against 21 stocks declining on the index.

The top gainers on Nifty were Tata Consumer Products up by 7.40%, Eternal up by 4.25%, Titan Company up by 3.55%, Indusind Bank up by 2.44% and Trent up by 2.21%. On the flip side, Bharat Electronics down by 3.44%, Ultratech Cement down by 1.35%, Power Grid Corporation Of India down by 1.00%, Nestle down by 0.81% and HCL Technologies down by 0.79% were the top losers.

Asian markets are trading mixed; Nikkei 225 surged 101.39 points or 0.28% to 35,725.87, Shanghai Composite strengthened 1.69 points or 0.05% to 3,350.13 and Taiwan Weighted added 18.05 points or 0.08% to 21,298.22, while Hang Seng declined 4.31 points or 0.02% to 23,202.53, KOSPI dropped 15.53 points or 0.62% to 2,505.86 and Straits Times fell 11.76 points or 0.3% to 3,957.09. The Jakarta Composite was closed on the occasion of Id-Ul-Fitr (Ramadan Eid).

European markets were trading lower; UK’s FTSE 100 decreased 43.09 points or 0.5% to 8,591.71, France’s CAC fell 31.07 points or 0.4% to 7,845.29 and Germany’s DAX lost 226.63 points or 1.02% to 22,313.35.
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