Post Session: Quick Review

Local equity benchmarks ended near the day’s high points on Thursday, with both the Nifty and Sensex surging around 1.5% following reports quoting U.S. President Donald Trump as stating that India will eliminate all tariffs on U.S. goods. Markets made a cautious start as U.S. Treasury yields rose. However, in the final hour of trade, markets staged a strong rebound to close with substantial gains, supported by stellar performances from heavyweight stocks.

Some of the important factors in today’s trade:

Foreign fund inflow: Traders took some support as exchange data showed Foreign Institutional Investors (FIIs) bought equities worth Rs 931.80 crore on Wednesday. 

Passenger vehicle dispatches rise 4% in April: Investors took encouragement with Society of Indian Automobile Manufacturers (SIAM) stating that passenger vehicles dispatch from factories to company dealerships in the country increased 4 per cent year-on-year to 3,48,847 units in April. 

Indian entities pledge $6 million in FDI in Azerbaijan, Turkiye: Traders took note of Indian entities have pledged nearly $6 million in foreign direct investments (FDI) in Azerbaijan and Turkiye, a small portion of the total $6.8 billion proposed overseas investments in April. 

Global front: European markets were trading mostly in red, amidst fading enthusiasm regarding the de-escalation in global trade tensions.  Asian markets ended mostly in red as there is still some uncertainty over the Trump Administration's tariff moves against some of its major trading partners.

The BSE Sensex ended at 82530.74, up by 1200.18 points or 1.48% after trading in a range of 80762.16 and 82718.14. There were 29 stocks advancing against 1 stock declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index was up by 0.67%, while Small cap index up by 0.94%. (Provisional)

The top gaining sectoral indices on the BSE were Realty up by 1.87%, Auto up by 1.86%, Industrials up by 1.62%, Metal up by 1.60% and Consumer Disc up by 1.57%, while there were no losing sectoral indices on the BSE. (Provisional)

The top gainers on the Sensex were Tata Motors up by 4.16%, HCL Technologies up by 3.37%, Eternal up by 2.22%, Adani Ports and Special Economic Zone up by 2.19% and Asian Paints up by 2.07%. On the flip side, Indusind Bank down by 0.24% was the only loser. (Provisional)

Meanwhile, highlighting India's significant strides in next-generation wireless technology, Union Minister of State (MoS) for Telecom Chandra Sekhar Pemmasani has said that over 111 research projects have been funded in India with sanction amount of Rs 300 crore and the country now ranks among the top six nations globally in 6G patent filings. He said that 6G will utilize TeraHertz frequency bands enabling data rates up to 1 terabit per second which is 100 times faster than 5G.

The minister said ‘we have a vast amount of talent pool and we have enough time. There is no reason for us not to lead in 6G’. He noted that as India continues its journey towards becoming a global technology leader, its path forward with 6G technology will define the nation's prosperity for decades to come. 

He further said 6G will create entirely new industries and revolutionize existing ones, potentially adding $1 trillion to India's economy by 2035. He said ‘Indigenous 6G development will also ensure that our secure communications are developed within India and secure’.

The CNX Nifty is ended at 25062.10, up by 395.20 points or 1.60% after trading in a range of 24494.45 and 25116.25. There were 49 stocks advancing against 1 stock declining on the index. (Provisional)

The top gainers on Nifty were Hero MotoCorp up by 6.34%, JSW Steel up by 4.95%, Tata Motors up by 4.21%, Trent up by 4.02% and HCL Technologies up by 3.56%. On the flip side, Indusind Bank down by 0.17% was the only loser. (Provisional)

European markets were trading mostly in red; France’s CAC fell 18.32 points or 0.23% to 7,818.47, Germany’s DAX lost 67.71 points or 0.29% to 23,459.30 and UK’s FTSE 100 increased 9.25 points or 0.11% to 8,594.26.

Asian markets settled mostly down on Thursday following the mixed cues from Wall Street overnight as investors were awaiting a speech by Federal Reserve Chair Jerome Powell, as well as data on retail sales and PPI releases for clues on the US Federal Reserve's interest rate trajectory. Market sentiments weakened further despite the US-China trade deal, there is still some uncertainty over the Trump Administration's tariff moves against some of its major trading partners. Japan's Nikkei extended its retreat from a nearly 3-months peak as a stronger yen sent automaker shares sliding.