Indices snap two-day fall, Nifty closes above 23,300; all sectors in green

Equity benchmarks ended with strong gains, snapping a two-day losing streak, driven by positive domestic data. The Nifty50 opened near 23,200, climbed to 23,350 intraday, and closed near the day's high above 23,330. All NSE sectoral indices finished in the green, led by consumer durables and FMCG. Meanwhile, investors remained cautious amid uncertainty over U.S. tariff plans, which could shape the near-term global market outlook.

The S&P BSE Sensex surged 592.93 points or 0.78% to 76,617.44. The Nifty 50 index jumped 166.65 points or 0.72% to 23,332.35. The 50-unit index fell 1.81% in the past two sessions.

Titan Company (up 3.77%), HDFC Bank (up 1.70%), Infosys (up 1.46%) and ICICI Bank (up 1%) boosted the indices.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 1.38% and the S&P BSE Small-Cap index added 0.99%.

The market breadth was strong. On the BSE, 2863 shares rose and 1091 shares fell. A total of 131 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.43% to 13.72.

Economy:

India's manufacturing sector surged in March, with the HSBC India Manufacturing PMI hitting an eight-month high of 58.1, up from 56.3 in February. The latest reading reflects robust growth, marking a substantial improvement well above the sector's long-term average.

The Reserve Bank of India (RBI) has announced an Open Market Operation (OMO) purchase worth Rs 80,000 crore in April. The purchases will be conducted in four tranches of Rs 20,000 crore each on April 3, April 8, April 22, and April 29, the central bank said in a statement released late Tuesday.

OMO purchases involve the RBI buying government securities from the market to infuse liquidity, ensuring smoother credit flow and stable financial conditions.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.17% to 6.590 as compared with previous close 6.580.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5200, compared with its close of 85.5000 during the previous trading session.

MCX Gold futures for 4 April 2025 settlement shed 0.14% to Rs 90,681.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 104.17.

The United States 10-year bond yield shed 0.10% to 4.152.

In the commodities market, Brent crude for June 2025 settlement fell 38 cents or 0.51% to $74.11 a barrel.

Global Markets:

US Dow Jones index futures were down 213 points, indicating a negative opening in the US stocks today.

European markets traded lower while Asian stocks ended mixed as global traders brace themselves for a raft of fresh trade tariffs due to be announced by U.S. President Donald Trump's administration.

Overnight in the U.S., the three major averages closed mixed. The S&P 500 added 0.38% while the Nasdaq Composite gained 0.87%. The Dow Jones Industrial Average slipped 0.03%.

White House officials confirmed that Liberation Day tariffs, including a 25% auto import tariff starting April 3, will be implemented immediately on April 2. Investor uncertainty regarding the tariffs' full impact and potential retaliatory actions is contributing to market volatility.

Tesla Inc. shares closed 3.6% higher on Tuesday. The company is set to report its first-quarter vehicle deliveries on Wednesday. NVIDIA shares rose 1.6%, while Microsoft stock climbed 1.8%. Alphabet shares closed 1.5% up, while those of Micron Technology Inc. jumped 2.1%.

Stocks in Spotlight:

Godrej Properties jumped 5.08% after the company has sold over 275 homes worth over Rs 2,000 crore at the launch of its luxury project, Godrej Riverine, located in Sector 44, Noida, Uttar Pradesh.

Tata Consumer Products shares surged 7.12% to Rs 1062.55 after a foreign broker upgraded the stock to a 'buy' rating and raised its target price from Rs 1,040 to Rs 1,200.

Colab Platforms jumped 2% after the company announced its entry into the Rs 50,000 crore predictive gaming market to unlock new revenue streams.

Baazar Style Retail hit an upper circuit of 20% after the company reported 55% growth in revenue to Rs 345.6 crore in Q4 FY25 as compared with Q4 FY24.

Sandhar Technologies advanced 3.13% after the company said that its wholly-owned subsidiary Sandhar Ascast has acquired Sundaram-Clayton's 'high-pressure and low-pressure aluminum die casting' business at its Hosur plant.

Hyundai Motor India (HMIL) declined 1.39% .The company reported a 2.6% YoY increase in total sales, reaching 67,320 units in March 2025, including domestic sales of 51,820 units and export sales of 15,500 units. In FY25, the company's total sales reached 762,052 units, comprising 598,666 units in domestic sales and 163,386 units in export sales.

Tata Motors rose 0.06%. The company announced that its domestic sales fell marginally to 90,500 units in March 2025, down 0.35%, as against 90,822 units sold in March 2024.

Artson rallied 3.68% after the company announced that its board has considered and approved the proposal for appointment of Manoj Shah, as the chief financial officer (CFO) of the company effective from 7 April 2025.

Banco Products (India) added 2.70% after the company's wholly owned subsidiary, Nederlandse Radiateuren Fabriek B.V. (NRF), announced plans to establish a new production facility in Poland to enhance production efficiency.

GPT Infraprojects soared 7.32% after the company said that it has received an order worth Rs 481.11 crore from CAO Construction, South Eastern Railway, Kolkata, for construction work.

Powered by Capital Market - Live News