The key equity indices traded with substantial gains in early afternoon trade, buoyed by positive global cues following U.S. President Donald Trump's announcement of tariff exemptions on electronic goods. The Nifty hovered above the 23,300 level. Private bank shares rallied for the second consecutive trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex, soared 1,662.71 points or 2.20% to 76,816.81. The Nifty 50 index surged 508.35 points or 2.23% to 23,336.90.
In the broader market, the S&P BSE Mid-Cap index rallied 2.15% and the S&P BSE Small-Cap index surged 2.72%.
The market breadth was strong. On the BSE, 3,201 shares rose and 725 shares fell. A total of 195 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 18.02% to 16.48. The Nifty 24 April 2025 futures were trading at 23,385.00, at a premium of 48.1 points as compared with the spot at 23,336.90.
The Nifty option chain for the 30 April 2025 expiry showed a maximum call OI of 7.4 lakh contracts at the 24,000 strike price. A maximum put OI of 5.5 lakh contracts was seen at a 22,500 strike price.
Economy:
India's wholesale inflation, based on the Wholesale Price Index, eased to 2.05% in March 2025 as compared with 2.38% in February 2025. It had stood at 0.26% in March 2024, Positive rate of inflation in March, 2025 is primarily due to increase in prices of manufacture of food products, other manufacturing, food articles, electricity and manufacture of textiles etc, the industry ministry said in statement.
Buzzing Index:
The Nifty Private Bank index rallied 2.72% to 26,079.60. The index jumped 4.31% in the past two trading sessions.
IndusInd Bank (up 6.95%), Axis Bank (up 3.84%), HDFC Bank (up 3.67%), RBL Bank (up 3.52%), IDFC First Bank (up 2.9%), ICICI Bank (up 2.73%), Bandhan Bank (up 2.59%), Yes Bank (up 1.75%), Kotak Mahindra Bank (up 0.54%) and Federal Bank (up 0.35%) surged.
Stocks in Spotlight:
Commercial Syn Bags hit an upper circuit 2% after the company's wholly owned subsidiary, Comsyn India, entered into a share purchase agreement (SPA) with Erawat Vegcap, a wholly owned subsidiary of Erawat Pharma, on 12 April 2025.
Greaves Cotton soared 5.31% after the company announced the appointment of Parag Satpute as its new managing director (MD) and group chief executive officer (GCEO).
Poonawalla Fincorp added 2.51% after the company has launched gold loan business, aiming to expand its portfolio of secured lending products. As part of this initiative, the company seeks to strengthen its presence across Tier 2 and Tier 3 cities with a secured product. It plans to open 400 new branches in a phased approach over the next four quarters.
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