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EQUITY
Post Session: Quick Review
Apr-08-2025

Local equity markets rebounded sharply on Tuesday, with the Nifty crossing the 22,500 mark and the Sensex surging over 1,050 points, as investors were awaiting the Reserve Bank of India's (RBI) Monetary Policy Committee decision scheduled for tomorrow, as well as upcoming fourth-quarter earnings from India Inc. Indices made a gap-up opening and continued to trade with notable gains till the end, supported by a broad-based rally across sectors.

Some of the important factors in trade:

Govt stepping up efforts to help exporters: Traders took support as the commerce ministry is stepping up efforts to help exporters explore new markets to push outbound shipments while also setting up a working group to monitor possible surge in imports from countries like China to tackle the impact of sweeping tariffs announced by the US. 

Jaishankar, Rubio hold talks on BTA: Traders were getting some encouragement as Subrahmanyam Jaishankar, external affairs minister, said he spoke to United States Secretary of State Marco Rubio on the early conclusion of the Bilateral Trade Agreement (BTA). 

FIIs extends selling streak: Traders overlooked the exchange data showed the foreign institutional investors (FIIs) continued their selling for the sixth consecutive session on April 7, as they sold equities worth Rs 9,040.01 crore. 

Global front: European markets were trading in the green as sentiment was positive amid expectations the US government will soften its tariff stance a bit. Asian markets ended mixed after US Treasury Secretary Scott Bessent said Japan is likely to be prioritized in trade talks with the Trump administration.

The BSE Sensex ended at 74227.08, up by 1089.18 points or 1.49% after trading in a range of 73424.92 and 74859.39. There were 29 stocks advancing against one stock declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index was up by 1.87%, while Small cap index up by 2.18%. (Provisional)

The top gaining sectoral indices on the BSE were Oil & Gas up by 2.58%, Realty up by 2.44%, Consumer Durables up by 2.38%, Telecom up by 2.32% and Capital Goods up by 2.14%, while there were no gaining sectoral index on the BSE (Provisional)

The top gainers on the Sensex were Titan Company up by 3.25%, Bajaj Finance up by 3.21%, Larsen & Toubro up by 3.07%, SBI up by 3.00% and Axis Bank up by 2.91%. On the flip side, Power Grid down by 0.14% was the only loser. (Provisional)

Meanwhile, the Union Commerce Minister Piyush Goyal has said the ‘applied tariffs; to the US are only 7-8 per cent, which he described as not humongous. Declining to disclose details on the ongoing negotiations with the US, which has slapped a 26 per cent ‘reciprocal tariff’ on the country, Goyal said India believes it can have bilateral trade pacts with countries that exercise fair trade practices. Lashing out at China, he said the northern neighbour's unfair practices have brought the world to the current juncture, and made it clear that car maker BYD's entry to India is not welcome at the current juncture.

Asserting that we are not in an era of de-globalisation but one of re-globalisation, Goyal said the current turmoil could provide a good opportunity for India if countries respecting fair practices come together. On the US tariff predicament, he explained that India's tariffs are a protection against unfair trade and a shield against economies indulging in aspects like dumping. Acknowledging that the overall Indian tariffs on the US work out at 17 per cent, he said that a lot of them pertain to goods which India doesn't import at all.

Goyal said the ongoing changes in the US trade policy will not impact domestic growth so much because India is not an export-dependent economy. He further said the rupee is not as volatile as peer emerging market currencies, and added that Indian equities are ‘fortunate’ to be at the bottom of the table of markets impacted by Trump's disruptive policies.

The CNX Nifty ended at 22535.85, up by 374.25 points or 1.69% after trading in a range of 22270.85 and 22697.20. There were 49 stocks advancing against 1 stock declining on the index. (Provisional)

The top gainers on Nifty were JIO Financial Services up by 5.29%, Shriram Finance up by 5.20%, Bharat Electronics up by 3.68%, Adani Enterprises up by 3.45% and Cipla up by 3.44%. On the flip side, Power Grid down by 0.09% was the only loser. (Provisional)

European markets were trading higher; UK’s FTSE 100 increased 131.61 points or 1.71% to 7,833.69, Germany’s DAX gained 229.85 points or 1.16% to 20,019.47 and France’s CAC rose 69.3 points or 1% to 6,996.42.

Asian markets settled mixed on Tuesday, as Japanese shares gained after US Treasury Secretary Scott Bessent said Japan is likely to be prioritized in tariff negotiations with the Trump administration. Chinese shares rose after China said it will take countermeasures against the US threat of an additional 50% tariff on Chinese goods, noting that the move is groundless and just a typical unilateral bullying practice. Hong Kong shares settled up as Chinese state funds intervened by purchasing exchange-traded funds to prop up the market. Meanwhile, the Indonesian market sank as markets reopened after a week-long Eid holiday break and reacted to global market turmoil caused by US tariffs.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,145.55

48.97

1.56

Hang Seng

20,127.68

299.38

1.49

Jakarta Composite

5,996.14

-514.48

-8.58

KLSE Composite

1,443.56

-0.24

-0.02

Nikkei 225

33,012.58

1,876.00

5.68

Straits Times

3,469.47

-71.03

-2.05

KOSPI Composite

2,334.23

6.03

0.26

Taiwan Weighted

18,459.95

-772.40

-4.18
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