The domestic equity benchmarks traded with major gains in afternoon trade, supported by a weaker U.S. dollar and robust earnings from heavyweight lenders ICICI Bank and HDFC Bank, both of which hit record highs and lifted overall sentiment in the banking sector. The Nifty climbed above the 24,150 mark.
Barring the Nifty FMCG index, all the other sectoral indices on the NSE traded in green.
All eyes will also be on the upcoming Spring Meetings of the World Bank Group and the International Monetary Fund (IMF), set to take place from April 21–26 in Washington, D.C. On the agenda: the ripple effects of trade tensions on global growth and updates on the progress of the World Bank and IMF's initiatives.
At 13:27 IST, the barometer index, the S&P BSE Sensex, zoomed 992.38 points or 1.26% to 79,545.58. The Nifty 50 index surged 308.50 points or 1.29% to 24,160.15.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 1.98% and the S&P BSE Small-Cap index advanced 1.45%.
The market breadth was strong. On the BSE, 2,851 shares rose and 1,138 shares fell. A total of 175 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 1.84% to 15.75.
Gainers & Losers:
Tech Mahindra (up 6.18%), IndusInd Bank (up 4.46%), Bajaj Finserv (up 3.97%), HCL Technologies (up 3.88%) and Axis Bank (up 3.60%) were the major Nifty50 gainers.
Adani Ports and Special Economic Zone (down 1.68%), HDFC Life Insurance Company (down 1.56%), Hindustan Unilever (down 0.85%), ITC (down 0.75%) and Bharti Airtel (down 0.50%) were the major Nifty50 Losers.
Stocks in Spotlight:
HDFC Bank rose 1.22% after the private bank reported 6.68% increase in standalone net profit to Rs 17,616.14 crore in Q4 FY25 as against Rs 16,511.85 crore posted in Q4 FY24. Total income shed marginally to Rs 89,487.99 crore in Q4 FY25, down 0.17%, compared to Rs 89,639 crore reported in the same period a year ago.
ICICI Bank added 0.30%. The company reported a standalone net profit of Rs 12,629.58 crore in Q4 FY25, up 17.95% as against Rs 10,707.53 crore posted in Q4 FY24. Total income increased 14% YoY to Rs 49,690.87 crore in Q4 FY25.
HDFC Asset Management Company jumped 6.04% after the company’s standalone net profit rose 18.04% to Rs 638.73 crore on 20.46% surge in total income to Rs 1,025 crore in Q4 FY25 over Q4 FY24.
Jio Financial Services (JFSL) rose 0.14%. The company reported 1.8% increase in consolidated net profit to Rs 316.11 crore on 18% jump in revenue from operations to Rs 493.24 crore in Q4 FY25 over Q4 FY24.
Just Dial soared 12.12% after the company reported a 36.3% jump in standalone net profit to Rs 157.60 crore on 7% increase in revenue from operations to Rs 289.20 crore in Q4 FY25 over Q4 FY24.
Infosys rallied 3.22% after the IT major reported 3.16% rise in consolidated net profit to Rs 7,038 crore in Q4 FY25 as against Rs 6,822 crore in Q3 FY25. However, revenue from operations decreased 2% QoQ to Rs 40,925 crore in the quarter ended 31 March 2025.
Yes Bank jumped 4.37% after the private bank reported 63.34% surge in standalone net profit to Rs 738.12 crore in Q4 FY25 as against Rs 451.89 crore posted in Q4 FY24. The bank’s total income rose 3.76% YoY to Rs 9,355.39 crore in the quarter ended 31 March 2025.
Global Markets:
Dow Jones futures dropped 403 points, setting a gloomy tone for U.S. stocks as investors strap in for an earnings-heavy week. Big names like Tesla, Boeing, and Alphabet are all lining up to report.
Asian stocks advanced after the People’s Bank of China decided to hold the line on interest rates. The central bank kept the one-year Loan Prime Rate at 3.1% and the five-year (a key benchmark for mortgage rates) at 3.6%. Both rates remain at historic lows, thanks to a series of cuts in recent years.
Back in the U.S., investors continue to be whipsawed by geopolitical drama, especially the Trump administration’s trade policy. President Trump recently renewed pressure on the Federal Reserve, urging rate cuts and even taking a swing at Fed Chair Jerome Powell, saying his ouster "cannot come fast enough." This came after Powell warned that trade tensions could hamper the Fed’s ability to manage inflation and fuel growth.
On Wall Street, the S&P 500 ended Thursday almost flat, giving up earlier gains as tariff uncertainty sparked profit-taking during a shortened trading week. The Dow slipped 1.3%, the Nasdaq lost 0.1%, and the S&P barely budged at +0.1%. (Markets were closed Friday for Good Friday.)
Trump signaled "big progress" in U.S.–Japan trade talks, giving markets a glimmer of hope. European Commission President Ursula von der Leyen echoed optimism, and reports suggested that even China might be open to rekindling talks—though they would appreciate a bit more respect and a bit less finger-pointing from Washington.