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Sensex, Nifty maintain gaining rally in early noon deals
May-12-2025

A gaining rally continued over the Dalal Street in early afternoon deals, with both Sensex and Nifty holding strong gains, as investors reacted to easing Indo-Pak tensions and positive indications coming from China-U.S. trade talks. Investors got some encouragement after the global sovereign credit rating agency, Morningstar DBRS, upgraded India’s Long-Term Foreign and Local Currency - Issuer Ratings from BBB (low) to BBB with a Stable trend. India’s Short-Term Foreign and Local Currency Issuer Ratings were also upgraded to R-2 (high) from R-2 (middle) with a Stable trend.

On the global front, Asian markets were trading in green, after Japan saw a current account surplus of 3.678 trillion yen in March, up 6.7 percent on year. That was in line with expectations and down from 4.061 trillion yen in February. Exports were up 1.8 percent on year to 9.559 trillion yen, while imports were up an annual 1.3 percent at 9.042 trillion yen for a trade surplus of 516.5 billion yen.

The BSE Sensex is currently trading at 81668.94, up by 2214.47 points or 2.79% after trading in a range of 80651.07 and 81830.65. There were 28 stocks advancing against 2 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose by 3.06%, while Small cap index was up by 3.74%.

The top gaining sectoral indices on the BSE were Utilities up by 4.31%, Power up by 4.11%, IT up by 4.09%, Realty up by 4.02% and Industrials up by 3.53%, while there were no losing sectoral indices on the BSE.

The top gainers on the Sensex were HCL Tech. up by 4.73%, Eternal up by 4.54%, Adani Ports & SEZ up by 4.04%, Infosys up by 4.02% and NTPC up by 3.68%. On the flip side, Sun Pharma down by 2.90% and Indusind Bank down by 2.84% were the only losers.

Meanwhile, India has imposed an anti-dumping duty of up to $664 per tonne on imports of a certain type of solar glass from China and Vietnam for five years in a bid to protect domestic manufacturers from cheap imports from these two countries.

The duty was imposed after the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) recommended for the same after conducting a detailed probe on the dumping of 'Textured Toughened (Tempered) Coated and Uncoated Glass' from China and Vietnam. Commonly used in solar panels, these glasses are also referred to as Solar Glass, Low Iron Solar Glass, Solar PV Glass, High Transmission Photovoltaic Glass, and Tempered Low Iron Patterned Solar Glass. It has concluded in its findings that there is a substantial increase in the volume of dumped imports of the glass from these countries in absolute and relative terms.

The anti-dumping duty imposed under this notification shall be effective for a period of five years from the date of imposition of the provisional anti-dumping duty, that is, December 4, 2024, unless revoked, amended or superseded earlier. The imposed duty will be in the range of $570 per tonne and $664 per tonne. The DGTR conducted the probe following applications regarding the same from Borosil Renewables on behalf of the domestic industry.  

The CNX Nifty is currently trading at 24702.45, up by 694.45 points or 2.89% after trading in a range of 24378.85 and 24745.75. There were 48 stocks advancing against 2 stocks declining on the index.

The top gainers on Nifty were Shriram Finance up by 7.09%, Adani Enterprises up by 7.03%, Trent up by 4.93%, JIO Financial Serv. up by 4.67% and HCL Tech up by 4.55%. On the flip side, Sun Pharma down by 2.99% and Indusind Bank down by 2.91% were the top losers.

All Asian markets were trading in green; Hang Seng advanced 240.21 points or 1.05% to 23,107.95,  Shanghai Composite strengthened 24.17 points or 0.72% to 3,366.17, KOSPI increased 30.06 points or 1.15% to 2,607.33, Nikkei 225 surged 140.93 points or 0.37% to 37,644.26 and Taiwan Weighted added 214.5 points or 1.02% to 21,129.54.
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