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EQUITY
Post Session: Quick Review
Apr-02-2025

Local equity markets ended their two-day losing streak on Wednesday. Both indices, Nifty and Sensex, closed with gains of over half a percent each ahead of the anticipated U.S. tariff announcement later in the day. Indices made a positive start and maintained their upward momentum till end of the day, as traders took some support with the government data showing that Gross Goods and Services Tax (GST) collection in March grew 9.9 per cent to over Rs 1.96 lakh crore.

Some of the important factors in today’s trade:

India’s Manufacturing PMI surges to 58.1 in March: Some support came in as the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) surged to 58.1 in March as against 56.3 in February.

India ranks 4th in forex reserves: Traders took some support with the Finance Minister Nirmala Sitharaman’s statement that India is the fourth largest holder of foreign exchange reserves at $658.8 billion, enough for 11 months of imports.

FIIs extends selling streak: Traders overlooked the 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. 

Global front: European markets were trading in the red ahead of reciprocal tariffs announcement from the U.S. later in the day. The new tariff rates will take effect immediately after they are announced by U.S. President Donald Trump at 2000 GMT. Asian markets ended mixed 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.  

The BSE Sensex ended at 76617.44, up by 592.93 points or 0.78% after trading in a range of 76064.94 and 76680.35. There were 21 stocks advancing against 9 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index rose 1.38%, while Small cap index was up by 0.99%. (Provisional)

The top gaining sectoral indices on the BSE were Realty up by 3.62%, Consumer Durables up by 2.62%, Consumer Disc up by 1.70%, Telecom up by 1.22% and TECK up by 1.18%, while there were no losing sectoral indices. (Provisional)

The top gainers on the Sensex were Eternal up by 4.75%, Titan Company up by 3.73%, Indusind Bank up by 2.89%, Tech Mahindra up by 2.04% and Maruti Suzuki up by 1.88%. On the flip side, Nestle down by 1.36%, Ultratech Cement down by 0.88%, Power Grid down by 0.81%, Bajaj Finance down by 0.81% and Bajaj Finserv down by 0.68% were the top losers. (Provisional)

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 ended at 23332.35, up by 166.65 points or 0.72% after trading in a range of 23158.45 and 23350.00. There were 30 stocks advancing against 20 stocks declining on the index. (Provisional)

The top gainers on Nifty were Tata Consumer Products up by 7.10%, Eternal up by 4.79%, Titan Company up by 3.86%, Indusind Bank up by 2.90% and Tech Mahindra up by 2.10%. On the flip side, Bharat Electronics down by 3.29%, Nestle down by 1.22%, Ultratech Cement down by 1.12%, Power Grid down by 0.88% and Asian Paints down by 0.40% were the top losers. (Provisional)

European markets were trading lower; Germany’s DAX lost 205.31 points or 0.91% to 22,334.67, UK’s FTSE 100 decreased 56.85 points or 0.66% to 8,577.95 and France’s CAC fell 28.07 points or 0.36% to 7,848.29.

Asian markets settled mostly higher on Wednesday, even as caution prevailed ahead of the US President Donald Trump's sweeping tariffs announcement expected later in the day. A private report indicated that the White House aides have drafted a proposal to impose tariffs of around 20% on most imports to the United States, however, it noted White House advisers cautioned that several options are on the table and no final decision has been made which kept the investors on edge. Meanwhile, the Indonesian market remained closed for Eid-ul-Fitr holidays.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,350.13

1.69

0.05

Hang Seng

23,202.53

-4.31

-0.02

Jakarta Composite

--

--

--

KLSE Composite

1,526.52

12.87

0.85

Nikkei 225

35,725.87

101.39

0.28

Straits Times

3,954.21

-14.64

-0.37

KOSPI Composite

2,505.86

-15.53

-0.62

Taiwan Weighted

21,298.22

18.05

0.08
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