Post Session: Quick Review

Despite a sharp rise in the previous session, Indian equity markets turned negative on Tuesday, with the both Nifty and Sensex crashing over 1.3% on account of profit booking. After a cautious start, markets soon slipped into the red and losses deepened as the day progressed, as traders turned cautious ahead of the U.S. consumer price index (CPI) and retail sales data set to be released tonight.

Some of the important factors in trade:

US-China deal to roll back high tariffs presents challenges, opportunities for India: Traders took note of private report that recent decision by the US and China to suspend their tariff hikes for 90 days presents both challenges and opportunities for India.

India's inflation likely to have cooled down in April: Traders failed to get any sense of relief from a private report stating that led by a further easing in food price rises, the country’s consumer or retail inflation is likely to have cooled down to a near six-year low in April 2025. 

FIIs inflow: Traders overlooked exchange data that showed Foreign Institutional Investors (FIIs) bought equities worth Rs 1,246.48 crore on Monday after a day's breather.

Global front: European markets were trading mostly in green after U.S. President Donald Trump said that the European Union is 'nastier than China' and 'we've just started with them'- signaling tough trade negotiations. Asian markets ended mostly in green as investors heaved a sigh of relief after a temporary halt in the trade war between the US and China eased worries of a global recession.

The BSE Sensex ended at 81148.22, down by 1281.68 points or 1.55% after trading in a range of 81043.69 and 82572.81. There were 5 stocks advancing against 25 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index was up by 0.17%, while Small cap index up by 0.99%. (Provisional)

The top gaining sectoral indices on the BSE were Industrials up by 1.24%, Capital Goods up by 1.04%, Healthcare up by 0.96%, Consumer Durables up by 0.14% and PSU up by 0.13%, while TECK down by 2.39%, IT down by 2.21%, Utilities down by 1.35%, FMCG down by 1.07% and Power down by 1.00% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Sun Pharma up by 0.99%, Adani Ports and Special Economic Zone up by 0.46%, Bajaj Finance up by 0.28%, SBI up by 0.05% and Tech Mahindra up by 0.03%. On the flip side, Infosys down by 3.57%, Eternal down by 3.48%, Power Grid Corp down by 3.22%, HCL Technologies down by 2.94% and TCS down by 2.83% were the top losers. (Provisional)

Meanwhile, the Chamber of Trade and Industry (CTI) has appealed to over 700 business organisations in the national capital to halt all forms of trade with China and Turkey. China and Turkey have supported rival positions in the Indo-Pak conflict.

CTI Chairman Brijesh Goyal said China benefits significantly from Indian markets, with its products widely used in businesses across the country. Despite this, it continues to take an unfriendly stance. It is time to reconsider our economic dependence on such nations. He further emphasised the importance of gradually reducing commercial ties, particularly with Turkey, which earns considerable revenue from Indian tourism.

According to CTI, in 2024, about 2.75 million Indian tourists visited Turkey, contributing to a bilateral trade volume of $12.5 billion between the two nations. The chamber also raised concerns over the lack of proper labelling on imported goods. 

The CNX Nifty ended at 24578.35, down by 346.35 points or 1.39% after trading in a range of 24547.50 and 24973.80. There were 13 stocks advancing against 36 stocks declining on the index, while one stock remained unchanged. (Provisional)

The top gainers on Nifty were Bharat Electronics up by 4.01%, Hero MotoCorp up by 1.97%, JIO Financial up by 1.71%, Dr. Reddy's Lab up by 0.96% and Sun Pharma up by 0.82%. On the flip side, Infosys down by 3.63%, Power Grid down by 3.43%, Eternal down by 3.34%, HCL Technologies down by 3.04% and TCS down by 2.91% were the top losers. (Provisional)

European markets were trading mostly in green; France’s CAC rose 5.72 points or 0.07% to 7,855.82, UK’s FTSE 100 increased 1.02 points or 0.01% to 8,606.00 and Germany’s DAX lost 6.5 points or 0.03% to 23,560.04.

Asian markets settled mostly higher on Tuesday tracking Wall Street’s gains overnight as tensions over the US-China trade deal faded after the United States and China agreed to drastically reduce the massive tariffs on each other's goods for 90 days, following negotiations over the weekend in Switzerland. Meanwhile investors turned their focus to a key US inflation data due later in the day. Chinese markets rose, even as a majority of defense company shares fell sharply following the ceasefire announcement between India and Pakistan. Moreover, Japanese markets gained as a weaker yen spurred exporters such as electronics makers and auto stocks.