Domestic indices maintain gains in late morning deals

Domestic equity markets maintained their gains in late morning deals as market participants indulged in enlarging their positions. Meanwhile, broader indices were also trading in green with BSE Small cap index and BSE Mid cap index gaining in the range of 0.40-0.85%.  Positive cues from the global markets supported domestic sentiments. There was some encouragement as World Bank in its latest report has said that India is witnessing a positive trend in job growth. It stated since the 2021-22 fiscal year, employment in the country has grown at a faster pace than the working-age population. A significant aspect of this growth is the rising participation of women in the workforce. On the BSE sectoral front, traders were seen pilling up positions in Energy, Oil & Gas, Healthcare, PSU and Metal, while selling was witnessed in IT, TECK and Telecom. 

On the global front, Asian markets were trading mostly in green following the positive cues from US markets on Friday, on easing global trade tensions. Back home, in the stock specific development, Shriram Finance dropped after the company’s reported net interest margin (NIM) dipped 23bp quarter-on-quarter (QoQ) to 8.25 per cent in March 2025 (Q4FY25), primarily because of excess liquidity on the balance sheet.

The BSE Sensex is currently trading at 79928.60, up by 716.07 points or 0.90% after trading in a range of 79341.35 and 80088.89. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.84%, while Small cap index up by 0.42%.

The top gaining sectoral indices on the BSE were Energy up by 2.39%, Oil & Gas up by 2.31%, Healthcare up by 1.61%, PSU up by 1.58% and Metal up by 1.52%, while IT down by 0.47%, TECK down by 0.35% and Telecom down by 0.15% were the losing indices on BSE.

The top gainers on the Sensex were Reliance Industries up by 4.11%, Sun Pharma up by 2.66%, Tata Steel up by 2.16%, Adani Ports up by 1.77% and Indusind Bank up by 1.48%. On the flip side, HCL Technologies down by 1.86%, Eternal down by 1.03%, Bajaj Finance down by 0.99%, Nestle down by 0.45% and Infosys down by 0.33% were the top losers. 

Meanwhile, Union Minister Piyush Goyal has said that India is poised to contribute significantly to global steel demand. He also emphasised that the government has been able to protect the domestic steel industry from unfair dumping and irrationally low pricing. He also said both exporters and the MSME sector will continue to get steel at international prices. 

The minister said ‘India is consistently focused on self-reliance (Atmanirbharta). But when we talk about Atmanirbharta, we are not closing the doors to the world. We are in fact opening the doors wider because every country will have its competitive advantages for different products.’ He noted that the Indian steel industry is a very highly efficient and cost-effective, high-quality producer. He said ‘therefore we believe that this is one sector where we will not only meet the growing needs of India as it grows into a developed nation by 2047, but we will also be meeting the needs of the world in a very, very competitive environment.’

He said India is poised to contribute significantly to global steel demand, and grow the steel industry by leaps and bounds. On the government's recent imposition of a 12 per cent safeguard duty on steel imports, he said that Prime Minister Narendra Modi's government is always vigilant and proactive to support Indian industry against unfair trading practices. He said ‘but we also balance the demands and needs of the customer. And therefore, we have been able to protect the steel industry from unfair dumping of steel and irrationally low prices that was detected through the quasi judicial inquiry that was done by the DGTR.’ 

The CNX Nifty is currently trading at 24252.90, up by 213.55 points or 0.89% after trading in a range of 24054.05 and 24283.00. There were 33 stocks advancing against 17 stocks declining on the index.

The top gainers on Nifty were Reliance Industries up by 4.13%, Bharat Electronics up by 2.91%, Sun Pharma up by 2.60%, JSW Steel up by 2.54% and Dr. Reddy's Lab up by 2.36%. On the flip side, Shriram Finance down by 4.78%, HCL Technologies down by 1.73%, Eternal down by 1.06%, Bajaj Finance down by 0.93% and Tata Consumer down by 0.38% were the top losers.

Asian markets were trading mostly in green; Hang Seng advanced 19.99 points or 0.09% to 22,000.73, Jakarta Composite gained 45.55 points or 0.68% to 6,724.47, Shanghai Composite strengthened 0.11 points or 0% to 3,295.17, Nikkei 225 surged 117.2 points or 0.33% to 35,822.94 and Taiwan Weighted added 161.68 points or 0.81% to 20,034.41. However, Straits Times fell 11.78 points or 0.31% to 3,812.00 and KOSPI dropped 4.00 points or 0.16% to 2,542.30.