The domestic equity benchmarks ended with minor gains today, extending the rally for sixth day in a row, supported by encouraging economic data and RBI’s liquidity easing measures. Continued buying by foreign institutional investors (FIIs) lent further support to market sentiment. However, volatile may persist ahead of the upcoming derivatives contract expiry later this week. Traders also remain focused on Q4 earnings report from companies. The Nifty closed above the 24,150 mark.
Realty, FMCG and consumer durables shares advanced while IT and oil & gas shares declined
As per provisional closing data, the barometer index, the S&P BSE Sensex added 187.09 points or 0.24% to 79,595.59. The Nifty 50 index rose 41.70 points or 0.17% to 24,167.25. In the past six trading sessions, Sensex and Nifty surged 7.78% and 7.89%, respectively.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 0.81% and the S&P BSE Small-Cap index advanced 0.82%.
The market breadth was strong. On the BSE, 2,471 shares rose and 1,511 shares fell. A total of 148 shares were unchanged.
Economy:
In a relief to banks, the Reserve Bank of India has finalized its Liquidity Coverage Ratio (LCR) guidelines, reducing the proposed additional run-off factor on internet and mobile banking-enabled retail deposits to 2.5%, effective 1 April 2026. Under the new norms, stable and less stable retail deposits will now attract run-off factors of 7.5% and 12.5%, respectively. The RBI also lowered the run-off rate on wholesale funding from non-financial entities like trusts and LLPs to 40% from 100%, aiming to better reflect funding stability. These changes are expected to improve banks' LCR by about 6% while ensuring continued compliance with minimum regulatory
The combined Index of Eight Core Industries (ICI) increased by 3.8% (provisional) in March 2025, as compared to 3.4% in February 2025. The production of cement, fertilizers, steel, electricity, coal, and refinery products recorded positive growth in March 2025. India’s core sector registered a moderate growth of 4.4% in FY25, easing from the stronger 7.6% expansion seen in FY24.
Buzzing Index:
The Nifty Realty index jumped 2.42% to 885. The index jumped 13.42% in the six consecutive trading sessions.
Phoenix Mills (up 4.42%), Oberoi Realty (up 2.53%), Godrej Properties (up 2.46%), Brigade Enterprises (up 2.44%), Anant Raj (up 2.37%), Prestige Estates Projects (up 2.32%), Sobha (up 2.25%), Raymond (up 2.16%), Macrotech Developers (up 1.46%) and DLF (up 1.43%) surged.
Anant Raj advanced 3.26% after the company reported 51.5% increase in consolidated net profit to Rs 118.64 crore on a 22.2% rise in net sales to Rs 540.65 crore in Q4 FY25 as compared with Q4 FY24.
Stocks in Spotlight:
IndusInd Bank fell 4.88% after reports surfaced that the lender had appointed Ernst & Young (EY) for a second forensic audit into a Rs 600 crore discrepancy in its microfinance portfolio. According to media reports, the discrepancy—related to the accrual of interest income—was discovered during the ongoing statutory audit for the previous financial year. The statutory auditors allegedly issued an additional communication under Section 143(12) of the Companies Act, 2013, prompting the bank to launch a further investigation via EY.
Mahindra Logistics added 2.23% after the company’s consolidated net loss narrowed to Rs 6.75 crore in Q4 FY25 as compared with net loss of Rs 12.85 crore in Q4 FY24. Revenue from operations jumped 8.19% YoY to Rs 1,569.51 crore in Q4 FY25.
Meanwhile, the company’s board has recommended a final dividend of Rs 2.50 per equity share for FY25, subject to the members’ approval at the ensuing 18th Annual General Meeting (AGM) of the company. If approved and declared at the ensuing AGM, will be paid/dispatched by the company in permitted modes after Tuesday, 22 July 2025. The company has fixed record date as Friday, 11 July 2025.
Tata Power Company shed 0.52%. The company announced that its subsidiary, Tata Power Renewable Energy (TPREL), has signed a landmark power purchase agreement (PPA) with Tata Motors to co-develop a 131 MW wind-solar hybrid renewable energy project. The hybrid system will supply clean energy to Tata Motors’ six manufacturing facilities located across Maharashtra and Gujarat.
Indag Rubber slipped 3.28% after the company reported 66.45% decline in consolidated net profit to Rs 1.07 crore in Q4 FY25 as against Rs 3.19 crore posted in Q4 FY24. Revenue from operations fell 10.19% YoY to Rs 55.07 crore in the quarter ended 31 March 2025.
Coal India shed 0.52%. The company announced that it has signed a memorandum of understanding (MoU) with Damodar Valley Corporation (DVC) to set up a coal-fired 2×800 MW Ultra Supercritical Power Plant in Jharkhand, with a total investment of Rs 16,500 crore.
Lotus Chocolate Company was locked in lower circuit of 5% after the company’s standalone net profit tumbled 64.5% to Rs 1.42 crore in Q4 FY25 as against Rs 4 crore posted in Q4 FY24. However, revenue from operations surged 139.21% year-on-year (YoY) to Rs 157.45 crore in the quarter ended 31 March 2025.
Aditya Birla Money fell 1.98% after the company reported 43.31% decline in standalone net profit to Rs 9.33 crore in Q4 FY25 as against Rs 16.46 crore posted in Q4 FY24. Total income fell by 13.76% year on year (YoY) to Rs 99.89 crore in the quarter ended 31 March 2024.
Alok Industries zoomed 17.36% after the company’s consolidated net loss reduced to Rs 74.47 crore in Q4 FY25 from a net loss of Rs 215.93 crore posted in Q4 FY24. Revenue from operations fell 35.14% year on year (YoY) to Rs 952.96 crore in the quarter ended 31 March 2025.
Tata Consultancy Services shed 0.26%. The IT major said that it has entered into an agreement with ICICI Securities for modernizing the latter’s industry leading retail trading and brokerage platform. As part of this initiative, TCS will deploy the trading solution of TCS BaNCS. The solution would help ICICI Securities to improve the agility of its platform.
Rajratan Global Wire hit an upper circuit of 20% after the company’s consolidated net profit gained 63.27% to Rs 15.20 crore on a 15.14% increase in revenue to Rs 251.42 crore in Q4 FY25 over Q3 FY25. Meanwhile, the board has recommended a final dividend of Rs 2 per equity share, subject to shareholder approval at the upcoming AGM for FY 2024–25.
Tata Investment Corporation declined 1.67% after the company’s consolidated net profit slipped 37.62% to Rs 37.72 crore in Q4 FY25, compared with Rs 60.47 crore in Q4 FY24. Revenue from operations tanked 71.2% to Rs 16.43 crore in Q4 FY25 as against Rs 57.11 crore posted in the corresponding period of the preceding fiscal. Meanwhile, the board of directors has recommended a dividend of Rs 27 per ordinary share of Rs 10 each, which shall be paid after the annual general meeting.
Global Markets:
Dow Jones futures jumped 327 points, signaling a potential bounce-back for U.S. equities after a rocky start to the week.
Most European markets declined on Tuesday, amid ongoing concerns about the U.S. economy and global trade.
Most Asian markets ended higher. But gains were kept in check after Wall Street stumbled, weighed down by President Trump intensifying his public pressure on Federal Reserve Chairman Jerome Powell—again raising eyebrows over the Fed’s independence.
Meanwhile, tensions between Washington and Beijing flared up further. China slapped sanctions on several U.S. lawmakers, officials, and NGO leaders, accusing them of “egregious behaviour” over Hong Kong-related issues. The move comes on the heels of U.S. sanctions imposed last month on Chinese and Hong Kong officials—an action that Beijing has "strongly condemned," according to foreign ministry spokesperson Guo Jiakun.
Back in the U.S., all three major indexes slid overnight as investors digested Trump’s Powell tirade and a lack of progress on global trade talks. The Dow tumbled 2.48%, the S&P 500 sank 2.36%, and the Nasdaq dropped 2.55%.
Powell, for his part, reminded everyone last week that the Fed’s independence is not just tradition—it’s "a matter of law." Markets are now trying to parse whether Trump’s threats are just more rate-cut rhetoric or something more serious.
Adding to the global gloom, a leading brokerage trimmed its global growth forecast on Monday. Blaming the ongoing tariff drama and mounting uncertainty from U.S. trade policy, it now expects global GDP to grow just 2.8% in 2025 and 3% in 2026—down 30 and 20 basis points, respectively, from previous estimates. One-third of the downgrade stems from the U.S., with the rest spread across China, Japan, and emerging markets.