Markets hover near highest point of the day amid fresh foreign fund inflows

Indian bourses continue to hover near highest point of the day in late afternoon session amid fresh foreign fund inflows and renewed investor confidence. FIIs have bought Rs 3181.57 crore on Friday’s trading session, besides their consistent buying in couple of previous sessions has uplifted the investors sentiments. Moreover, the market turned jubilant after US president Donald Trump signaled flexibility on upcoming reciprocal tariffs. The broader markets experienced heavy buying as trader opted buy on dip strategy and cherry peaking stock from the sectors that have showed strength.

On the global front, Asian equity markets were trading mixed as investors awaited clarity on the next round of tariffs from U.S. President Donald Trump set for April 2. European equity markets were trading higher amid discussion of a potential ceasefire in the Black Sea between Ukraine and Russia.

The BSE Sensex is currently trading at 78021.54, up by 1116.03 points or 1.45% after trading in a range of 77179.35 and 78107.23. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index up by 1.61%, while Small cap index was up by 1.48%.

The top gaining sectoral indices on the BSE were PSU up by 2.85%, Utilities up by 2.55%, Bankex up by 2.50%, Power up by 2.37% and Industrials up by 2.22%, while there no losers in BSE sectoral index.

The top gainers on the Sensex were NTPC up by 4.54%, Kotak Mahindra Bank up by 4.43%, Tech Mahindra up by 3.91%, Power Grid Corporation Of India up by 3.46% and SBI up by 3.17%. On the flip side, Indusind Bank down by 2.39%, Titan Company down by 2.39%, Eternal down by 2.04%, Mahindra & Mahindra down by 1.01% and Bharti Airtel down by 0.44% were the top losers.

Meanwhile, the HSBC Flash India PMI report has said that India’s private sector output rose at a slower pace in March 2025 as compared to the previous month amid softer increase in services activity, as factory production rose at the quickest pace since July 2024. As has been the case for nearly three-and-a-half years, outstanding business volumes across India's private sector increased during March. However, the rate of accumulation slowed from February and was mild overall. There were softer increases in both the manufacturing and service categories. 

The HSBC Flash India Composite Output Index -- a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors -- was down marginally to 58.6 in March from February's final reading of 58.8. Despite the marginal dip, the reading remains well above the long-run average of 54.7, reflecting robust expansion across the economy. However, the HSBC Flash India Manufacturing PMI index increased from 56.3 in February to 57.6 in March, signalling a notable improvement in operating conditions that was broadly aligned with the average for the 2024/25 fiscal year. Three of its five main sub-components rose since last month, namely output, new orders and stocks of purchases.

According to the report, order book volumes at Indian private sector companies continued to be supported by international sales. New export order growth eased to a three-month low, but remained marked and above the average since the series started in September 2014. Manufacturing companies registered a faster upturn in new business from abroad than their services counterparts. Private sector businesses in India reported a further increase in their operating expenses, amid greater outlays on copper, electronics, food (especially fruits and vegetables), leather, medical equipment, rubber and vehicle spare parts. Cost pressures were stronger in the service economy, despite a slowdown here and an acceleration at goods producers. The aggregate rate of inflation nevertheless remained below its long-run average.

The CNX Nifty is currently trading at 23674.95, up by 324.55 points or 1.39% after trading in a range of 23433.50 and 23708.75. There were 43 stocks advancing against 7 stocks declining on the index.

The top gainers on Nifty were Kotak Mahindra Bank up by 4.64%, NTPC up by 4.45%, Tech Mahindra up by 4.07%, Power Grid Corporation Of India up by 3.48% and SBI up by 3.11%. On the flip side, Indusind Bank down by 2.64%, Titan Company down by 2.36%, Trent down by 1.25%, Mahindra & Mahindra down by 1.17% and Bharti Airtel down by 0.45% were the top losers.

Asian markets are trading mixed; Hang Seng advanced 215.84 points or 0.9% to 23,905.56, Straits Times rose 13.5 points or 0.34% to 3,939.95 and Shanghai Composite strengthened 5.2 points or 0.15% to 3,370.03, while Jakarta Composite plunged 87.94 points or 1.43% to 6,170.24, KOSPI dropped 11.06 points or 0.42% to 2,632.07, Nikkei 225 slipped 68.57 points or 0.18% to 37,608.49 and Taiwan Weighted lost 102.46 points or 0.46% to 22,106.64.

European markets were trading higher; UK’s FTSE 100 increased 43.88 points or 0.5% to 8,690.67, France’s CAC rose 35.75 points or 0.44% to 8,078.70 and Germany’s DAX gained 116.94 points or 0.51% to 23,008.62.