INDICES TRADE WITH DECENT GAINS IN EARLY TRADE; BREADTH POSITIVE

The key domestic indices traded with limited gains in early trade. The Nifty traded above 23,700 level. All the sectoral indices on the NSE were traded in green with realty, metal and PSU Bank shares leading the rally.

At 09:25 IST, the barometer index, the S&P BSE Sensex, added 141.23 points or 0.17% to 78,152.06. The Nifty 50 index advanced 50.35 points or 0.21% to 23,719.

In the broader market, the S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index shed 0.03%.

The market breadth was strong. On the BSE, 1,737 shares rose and 1,086 shares fell. A total of 136 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 5,371.57 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 2,768.87 crore in the Indian equity market on 25 March 2025, provisional data showed.

Stocks in Spotlight:

NCC rallied 4.62% after the company received two advance work orders worth Rs 10,804.6 crore from Bharat Sanchar Nigam for the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network of BharatNet in Uttarakhand Telecom Circle and Madhya Pradesh, DNH, and DD telecom circles.

Welspun Enterprises rose 1.30% after the company�s subsidiary, Welspun Michigan Engineers, in joint venture with Aaradhyaa & Co, has secured a new order worth Rs 328.12 crore from Brihanmumbai Municipal Corporation (BMC) for the upgradation of the Haji Ali Storm Water Pumping Station in Mumbai, Maharashtra, followed by 15 years of operations and maintenance.

Minda Corporation declined 1.69%. The company�s board will meet on 28 March 2025 to consider raising funds by way of issue of one or more instruments or securities.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper advanced 1.67% to 6.744 as compared with the previous close of 6.740.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.7650, compared with its close of 85.7250 during the previous trading session.

MCX Gold futures for the 4 April 2025 settlement shed 0.05% to Rs 87,521.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.08% to 104.29.

The United States 10-year bond yield advanced 0.63% to 4.335.

In the commodities market, Brent crude for May 2025 settlement advanced 19 cents or 0.26% to $73.21 a barrel.

Global Markets:

Most Asian stocks advanced on Wednesday as concerns eased over the impact of U.S. President Donald Trump�s planned trade tariffs.

Japanese shares pared early gains after Bank of Japan Governor Kazuo Ueda warned of further interest rate hikes. Meanwhile, Japan�s corporate services price index�a key measure of producer inflation�came in slightly cooler than expected for February but remained sticky at 3%, data showed on Wednesday.

On Wall Street, U.S. indices advanced on Tuesday, driven primarily by gains in heavyweight technology stocks. The S&P 500 edged up 0.2% to 5,776.62, while the NASDAQ Composite gained 0.5% to 18,271.86. The Dow Jones Industrial Average inched higher to 42,587.50, marking a third consecutive day of gains for all three indexes.

Tesla Inc climbed over 3% despite data showing a second straight month of declining European sales. Meanwhile, GameStop Corp surged 8% in after-hours trading following its management�s approval of a plan to invest excess cash in Bitcoin.

The Conference Board�s consumer confidence index fell to a reading of 92.9 down from an upward revised 100.1 in the prior month amid ongoing concerns about a tariff-induced slowdown.

Trump�s proposed tariffs remained in focus ahead of an April 2 announcement on additional trade measures. Reports indicating that the tariffs may be less severe than initially feared helped boost Wall Street sentiment this week. However, the 47th President reiterated his stance on imposing duties on automobile imports and signaled upcoming tariffs on lumber and semiconductors. Next week, he is expected to unveil reciprocal tariffs on around 15 major U.S. trading partners, though the full scope and impact remain uncertain.

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