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Beaming bourses add more gains in late noon deals
May-12-2025

Beaming Indian equity markets continued to add more gains in late trade owing to easing tensions between India-Pakistan and US-China trade talks showing progress in de-escalating tensions. Investors took sigh of bliss after India and Pakistan agreed for a cease fire. Besides, following the recent talks between US and China, US decided to cut tariffs on Chinese goods from 145% to 30% for 90 days, while China reduced tariffs on US goods from 125% to 10%, which bolstered sentiment on the bourses. 

On the global front, Asian equity markets are trading mostly in green as the US and China both reported substantial progress after two days of talks in Switzerland aimed at de-escalating a trade war. European equity markets were also trading higher. Back home, substantial strength has been seen in airline and hotel companies share following the ceasefire between Indian and Pakistan.

The BSE Sensex is currently trading at 82252.05, up by 2797.58 points or 3.52% after trading in a range of 80651.07 and 82360.43. There were 28 stocks advancing against 2 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index surged 3.69%, while Small cap index was up by 3.95%.

The top gaining sectoral indices on the BSE were IT up by 6.36%, Realty up by 5.75%, Metal up by 5.02%, TECK up by 4.88% and Utilities up by 4.81%. Meanwhile, there were no losers on BSE sectoral index.

The top gainers on the Sensex were Infosys up by 7.33%, Tata Steel up by 6.02%, HCL Technologies up by 5.65%, Tech Mahindra up by 5.31% and Eternal up by 5.05%. On the flip side, Indusind Bank down by 3.53% and Sun Pharmaceutical Industries down by 3.28% were the only losers.

Meanwhile, the global sovereign credit rating agency, Morningstar DBRS in its latest report has 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.

According to the agency, key drivers for the upgrade include India’s structural reforms through infrastructure investments, digitalisation etc., all of which facilitated fiscal consolidation (declining debt and deficit) and sustained high growth (clocking an average GDP growth of 8.2% during FY22-25) with macroeconomic stability (stabilised inflation, range bound exchange rate and sound external balance). A resilient banking system featuring well-capitalised banks with a high capital adequacy ratio and a 13-year low non-performing loans was another significant driver for the upgrade.

The report noted that the credit rating may be further upgraded if India continues to implement reforms that raise the investment rate, enhancing medium-term growth prospects. The report also stated that despite the current public debt levels, risks to debt sustainability are limited due to local currency denomination and long maturity structures. Further, continued reforms and a reduction in the public debt-to-GDP ratio could bring further upgrades.

The CNX Nifty is currently trading at 24878.55, up by 870.55 points or 3.63% after trading in a range of 24378.85 and 24907.20. There were 48 stocks advancing against 2 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 7.47%, Infosys up by 7.39%, Shriram Finance up by 7.38%, Wipro up by 6.13% and Tata Steel up by 6.03%. On the flip side, Indusind Bank down by 3.59% and Sun Pharmaceutical Industries down by 3.34% were the only losers.

Asian markets are trading mostly in green; Hang Seng advanced 681.72 points or 2.89% to 23,549.46, 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, Taiwan Weighted added 214.5 points or 1.02% to 21,129.54 and Shanghai Composite strengthened 27.24 points or 0.81% to 3,369.24.

European markets were trading higher; UK’s FTSE 100 increased 34.39 points or 0.4% to 8,589.19, France’s CAC rose 78.6 points or 1% to 7,822.35 and Germany’s DAX gained 228.28 points or 0.96% to 23,727.60.
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