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Bourses trade at day’s high levels in early afternoon session
Apr-17-2025

Indian equity markets gained traction in early afternoon session and traded at day’s high levels amid value buying by investors. Traders took support with the report stating that retail inflation in India, as measured by the Consumer Price Index (CPI), which reflects the cost of everyday goods and services, fell to a remarkable 4.6% in the fiscal year 2024-25, the lowest since 2018-19. This milestone highlights the effectiveness of the Reserve Bank of India’s pro-growth monetary policy, which has successfully balanced economic expansion with price stability. Notably, the year-on-year inflation rate for March 2025 dropped to 3.34%, a decline of 27 basis points from February 2025, marking the lowest monthly inflation rate since August 2019.

On the global front, Asian markets were trading mostly in green as Bank of Korea kept its interest rate unchanged as uncertainty about future growth increased due to the changes in the US trade policies and the implementation of government stimulus measures. 

The BSE Sensex is currently trading at 77802.38, up by 758.09 points or 0.98% after trading in a range of 76665.77 and 77844.76. There were 22 stocks advancing against 8 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index gained 0.30%, while Small cap index was up by 0.61%.

The top gaining sectoral indices on the BSE were Telecom up by 1.98%, Bankex up by 1.29%, Power up by 0.84%, Oil & Gas up by 0.74% and Energy was up by 0.64%, while IT down by 0.98%, Metal down by 0.06% and Realty was down by 0.03% were the top losing indices on BSE.

The top gainers on the Sensex were Bharti Airtel up by 2.78%, ICICI Bank up by 2.70%, Eternal up by 2.45%, Sun Pharma up by 1.90% and Reliance Industries up by 1.72%. On the flip side, Tech Mahindra down by 1.19%, HCL Tech down by 1.10%, Larsen & Toubro down by 1.06%, Infosys down by 1.04% and Tata Steel down by 0.40% were the top losers.

Meanwhile, Commerce Minister Piyush Goyal has said that India will expand its trade ties with nations that will offer fair, balanced and equitable free trade agreements (FTAs). He stressed that the country's gains must match its offer of accessing a 1.4 billion-strong, and fast-growing consumer market. He noted that India is negotiating FTAs with different countries and regions, including the European Union (EU) and Oman. The remarks also assume significance as India is negotiating a bilateral trade agreement with the US. The aim is to finalise the first phase of the pact by the fall (September-October) this year. 

At India-Middle East-Europe Economic Corridor (IMEC) Conclave 2025, the minister said this corridor would help promote trade, seamless movement of goods and people, and cut down logistics costs. He said that it can also open up opportunities for the financial world. He said ‘we could have multilateral financing agencies along this corridor to help promote both the setting up of the corridor and at some stage. We should explore innovative financing models and see how this could finally be financed.’ He added that the countries can look at harmonising regulatory practices, and enhanced alignment on process, procedures, trade practices, customs union and paperworks within these nations. 

He further informed that India and the UAE have been in a dialogue for a virtual trade corridor. He said India is also in dialogue with Singapore to look at the possibility of having an undersea cable for transporting clean energy. He said ‘I've had a conversation with Australia...Singapore is also talking to Australia to see if the Singapore, Australia leg could be connected. We are in dialogue with Saudi Arabia and UAE to see if this leg could be connected.’ Further, he said that this project needs to be seen from the lens of public-private partnership as it will help in making it financially viable and it should not be only the government's initiative.

The CNX Nifty is currently trading at 23649.45, up by 212.25 points or 0.91% after trading in a range of 23298.55 and 23658.10. There were 39 stocks advancing against 11 stocks declining on the index.

The top gainers on Nifty were Bharti Airtel up by 2.84%, ICICI Bank up by 2.68%, Eternal up by 2.62%, Grasim Industries up by 2.10% and Sun Pharma up by 1.94%. On the flip side, Wipro down by 5.11%, Hero MotoCorp down by 1.48%, Tech Mahindra down by 1.11%, Coal India down by 1.03% and Larsen & Toubro down by 1.02% were the top losers.

Asian markets were trading mostly in green; Nikkei 225 surged 457.2 points or 1.33% to 34,377.60, Hang Seng advanced 261.27 points or 1.23% to 21,318.25, Straits Times rose 50.46 points or 1.36% to 3,712.91, Jakarta Composite gained 27.19 points or 0.42% to 6,427.24 and KOSPI was up by 22.98 points or 0.93% to 2,470.41. On the flip side, Shanghai Composite weakened 1.48 points or 0.05% to 3,274.52 and Taiwan Weighted was down by 129.27 points or 0.67% to 19,338.73.
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