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EQUITY
Key gauges extend gains for sixth straight day
Apr-22-2025

Indian equity benchmarks extended gains for the sixth straight day on Tuesday, on continuous foreign fund inflows and buying in Realty, FMCG and Consumer Durables shares. Besides, the Reserve Bank of India's (RBI) liquidity-enhancing measures helped counter weak global cues triggered by U.S. President Donald Trump's continued criticism of the Federal Reserve chair Jerome Powell.

Some of the important factors in today’s trade:  

Continuous foreign fund inflows: Foreign Institutional Investors (FIIs) bought equities worth Rs 1,970.17 crore on Monday, according to exchange data. Since the last four trading sessions, FIIs have been on a buying spree. 

EPFO reports net addition of 16.10 lakh members in February: Employees' Provident Fund Organisation (EPFO) added 16.10 lakh net members in February, marking a 3.99 per cent increase compared to the same month last year. 

India ‘actively engaging’ with US: Finance Minister Nirmala Sitharaman has said India is ‘actively engaging’ with the new US administration and hopes to conclude the first tranche of the bilateral trade agreement ‘positively’ by fall (September-October) this year. 

India imposes 12% safeguard duty to shield Indian steel sector: In an effort to protect domestic steel manufacturers from the adverse impact of import surges and to ensure fair competition in the market, the Government of India has imposed a 12 percent safeguard duty on the import of certain non-alloy and alloy steel flat products. 

Global front: European markets were trading mostly in red as U.S. President Donald Trump's remarks on Federal Reserve Chair Jerome Powell reignited concerns about Fed independence and political interference. Asian markets settled mixed on Tuesday after tariff-related worries and fears over the independence of the U.S. Federal Reserve sparked a sell-off in U.S. equities overnight. 

Finally, the BSE Sensex rose 187.09 points or 0.24% to 79,595.59, and the CNX Nifty was up by 41.70 points or 0.17% to 24,167.25.    

The BSE Sensex touched high and low of 79,824.30 and 79,253.44 respectively. There were 14 stocks advancing against 15 stocks declining, while 1 stock remained unchanged on the index.

The broader indices ended in green; the BSE Mid cap index rose 0.81%, while Small cap index was up by 0.82%.

The top gaining sectoral indices on the BSE were Realty up by 2.40%, FMCG up by 1.87%, Consumer Durables up by 1.43%, Healthcare up by 0.75% and Consumer Discretionary up by 0.72%, while Utilities down by 0.92%, TECK down by 0.90%, Power down by 0.86%, IT down by 0.60% and Telecom down by 0.45% were the top losing indices on BSE.

The top gainers on the Sensex were ITC up by 2.58%, Hindustan Unilever up by 2.09%, Mahindra & Mahindra up by 1.89%, HDFC Bank up by 1.78% and Eternal up by 1.41%. On the flip side, Indusind Bank down by 4.88%, Power Grid Corp down by 2.30%, Infosys down by 1.93%, Bharti Airtel down by 1.68% and Bajaj Finserv down by 1.25% were the top losers.

Meanwhile, Finance Minister Nirmala Sitharaman has said India is ‘actively engaging’ with the new US administration and hopes to conclude the first tranche of the bilateral trade agreement ‘positively’ by fall (September-October) this year. She said ‘We are one of the countries which is actively engaged with the new administration of the United States of America to see how best we can get a bilateral trade agreement done’. Earlier this year, US President Donald Trump and Prime Minister Narendra Modi agreed to launch talks for a bilateral trade deal amid the lurking fear of reciprocal tariff being imposed by Washington.

The US and India have aimed for a bilateral trade agreement (BTA), which is a kind of free trade pact. The two have decided to conclude the proposed BTA in two tranches or phases. She said ‘So, the long and short of engaging with the US is not just reciprocal tariff-related matter but in the interest of keeping an agreement in mind and in the interest of one of the largest trading partners with whim we need to have agreement we are working in order that by the fall this year we should have first phase of agreement signed’.

The US President announced sweeping reciprocal tariffs (or import duties) on a number of countries, including India and China, on April 2. However, on April 9, he announced a 90-day suspension of these tariffs until July 9 this year, except for those on China and Hong Kong, as about 75 countries approached America for trade deals. China is facing up to 245 per cent duty on its goods entering the US. She said ‘In between all this, the Assistant USTR (US Trade Representative) had visited India to see the progress or to engage with the negotiating team who is dealing with the tariff-related negotiation and the bilateral trade agreement that we want to sign. In fact, the progress of the agreement, or the trade agreement that we are working on, at least a first tranche is something which we hope to conclude positively by the fall this year’.

The CNX Nifty traded in a range of 24,242.60 and 24,072.00. There were 19 stocks advancing against 31 stocks declining on the index.   

The top gainers on Nifty were ITC up by 2.36%, Hindustan Unilever up by 2.21%, HDFC Bank up by 1.71%, JIO Financial Services up by 1.71% and Mahindra & Mahindra up by 1.70%. On the flip side, Indusind Bank down by 4.79%, Power Grid Corporation down by 2.11%, Hero MotoCorp down by 2.02%, Infosys down by 1.93% and Wipro down by 1.87% were the top losers.

European markets were trading mostly in red; France’s CAC fell 26.78 points or 0.37% to 7,259.08 and Germany’s DAX lost 99.93 points or 0.47% to 21,105.93, while UK’s FTSE 100 increased 14.25 points or 0.17% to 8,289.91.

Asian markets settled mixed on Tuesday due to escalating tariff-related worries, while the US President Donald Trump intensified his attacks on US Federal Reserve Chair Jerome Powell and warned that the US economy will slow unless interest rates are lowered immediately. Chinese and Hong Kong shares rose amid expectations that Chinese policymakers will unveil more stimulus in coming months, and China kept benchmark lending rates steady for the sixth successive month as expected. Meanwhile, Japanese shares declined as the yen hit a fresh seven-month high against the US dollar amid rising consensus that the Bank of Japan will continue hiking interest rates in 2025.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,299.76

8.33

0.25

Hang Seng

21,562.32

167.18

0.78

Jakarta Composite

6,538.27

92.30

1.41

KLSE Composite

1,486.25

-13.22

-0.88

Nikkei 225

34,220.60

-59.32

-0.17

Straits Times

3,795.41

36.19

0.95

KOSPI Composite

2,486.64

-1.78

-0.07

Taiwan Weighted

18,793.43

-312.77

-1.66
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