Indices trade higher; Sensex, Nifty surge over 2%; European mrkt advance

The key equity benchmarks traded with substantial gains in afternoon trade. The Nifty climbed above the 22,650 mark. Despite global recession fears, potential US tariffs on Indian goods, and heavy selling in key stocks ahead of earnings season, Indian markets remained resilient. Investor optimism stems from expectations that India will face minimal impact amid global trade tensions.

At 13:25 IST, the barometer index, the S&P BSE Sensex, gained 1626.76 points or 2.23% to 74,791.25. The Nifty 50 index added 500.50 points or 2.26% to 22,662.10.

In the broader market, the S&P BSE Mid-Cap index jumped 2.14% and the S&P BSE Small-Cap index surged 2.36%.

The market breadth was strong. On the BSE, 2,618 shares rose and 567 shares fell. A total of 124 shares were unchanged.

Gainers & Losers:

Shriram Finance (up 4.93%), Titan Company (up 4.09%), Infosys (up 4.00%), Eicher Motors (up 3.85%) and Larsen & Tourbo (up 3.71%) were the major Nifty50 Gainers.

None of the Nifty50 stocks recorded losses as the index traded firmly in positive territory.

Titan Company rallied 4.09% after the company's standalone revenue jumped 25% year on year (YoY) in fourth quarter of FY25.

Stocks in Spotlight:

Bharat Electronics (BEL) jumped 3.06% after the company said that it has signed a contract with Ministry of Defence valued at Rs 2,210 crore for supply of EW Suite for Mi 17 V5 Helicopters of Indian Air Force.

Mahindra & Mahindra (M&M) advanced 1.70% after the company's total production jumped 23.51% to 88,701 units in the month of March 2025, compared with 71,814 units produced in the same period last year.

Hindustan Petroleum Corporation (up 3.48%), Bharat Petroleum Corporation (up 1.84%), and Indian Oil Corporation (IOC) (up 1.71%) after the government announced a hike in fuel duties and LPG prices. The Ministry of Finance increased the excise duty on petrol and diesel by Rs 2 per litre, while the price of cooking gas cylinders was raised by Rs 50, effective Tuesday. The hike applies to all categories, including subsidised LPG refills.

Sobha added 2.25% after the company's total sales value jumped 22.1% to Rs 1,835 crore in Q4 FY25 as compared with Rs 1,504 crore in Q4 FY24.

Godrej Properties rallied 3.13% after the company's booking value increased 7% year on year (YoY) to Rs 10,163 crore durng the quarter ended 31st March 2025.

P N Gadgil Jewellers added 2.43% after the company's consolidated revenue increased by 5.1% year on year in Q4 FY25.

Bank of Maharashtra rallied 3.55% after the public sector bank reported that its gross advances jumped 17.84% to Rs 2,40,007 crore as of 31 March 2025, compared to Rs 2,03,664 crore as of 31 March 2024.

Global Markets:

Dow Jones futures is up 755 points, indicating a rebound in the US stocks today.

European stocks advanced reversing course from a four-day losing streak fuelled by red-hot global tariff tensions.

Asia-Pacific stocks rose on Tuesday, rebounding from previous session's losses over U.S. President Donald Trump's tariff policy and threats of even higher levies against China.

The market jitters followed US President Donald Trump's fiery threat to slap a whopping 50% tariff on imports from Beijing. This came in response to China's own counterpunch: a 34% tit-for-tat tariff on US goods. Not to be outdone, China's Commerce Ministry doubled down on Tuesday, vowing to fight to the end and warning of further countermeasures if Washington follows through.

Even as the rhetoric escalated, Beijing struck a note of restraint. The Commerce Ministry reiterated that it still favored dialogue with the US, cautioning that in a trade war, there are no winners.

The escalating tensions have left global investors rattled. Analysts are now openly worrying about the ripple effects on supply chains, trade routes, and overall economic stability. A full-blown trade war, they warn, could put global growth into a chokehold.

Over in the US, Wall Street had a rough ride Monday. The Dow Jones Industrial Average shed 0.9%, the S&P 500 dipped 0.2%, and the Nasdaq managed a modest 0.1% gain'thanks in part to a late-session tech rebound.

President Trump, meanwhile, remained unmoved by the volatility, reiterating his administration's commitment to reciprocal tariffs, brushing off any talk of a pause.

Among the tech heavyweights, NVIDIA soared 3.5%, and Broadcom Inc. surged 5.4%. Amazon and Meta Platforms also clawed back losses. On the flip side, Apple slid 3.7%, and Tesla tumbled another 2.6%, adding to investor anxiety.

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