Market Commentary - Mid-Session
The headline equity benchmarks trimmed some gains but continued to trade with substantial gains in mid-morning trade. Investor confidence was severely shaken by several factors: growing global recession fears, heightened concerns about potential US tariff actions on Indian goods and substantial selling pressure in frontline stocks ahead of the upcoming earnings season. Despite these challenges, Indian equities have demonstrated relative strength compared to other markets, largely based on optimism that the world's fifth-largest economy will endure only minor setbacks rather than severe damage during Trump's trade conflicts. The Nifty traded above the 22,300 level.
Realty shares advanced after declining in the past three consecutive trading sessions.
At 11:30 IST, the barometer index, the S&P BSE Sensex, gained 564.81 points or 0.77% to 73,706.65. The Nifty 50 index added 183.80 points or 0.83% to 22,345.40.
The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index jumped 1.32% and the S&P BSE Small-Cap index surged 1.67%.
The market breadth was strong. On the BSE, 2,820 shares rose and 842 shares fell. A total of 163 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 9.60% to 20.60.
Buzzing Index:
The Nifty Realty index jumped 2.18% to 793.10. The index tanked 9.17% in the past three consecutive trading sessions.
Oberoi Realty (up 2.97%), Brigade Enterprises (up 2.95%), Anant Raj (up 2.94%), Macrotech Developers (up 2.77%), Prestige Estates Projects (up 2.69%), Godrej Properties (up 2.55%), DLF (up 2.38%), Sobha (up 1.77%), Phoenix Mills (up 1.46%) and Raymond (up 0.74%) advanced.
Stocks in Spotlight:
Global Health rallied 3.43% after the company said that it has received an offer from Assam Electricity Grid Corporation (AEGCL), the Government of Assam, to acquire a 3-acre land parcel in Guwahati, Assam.
P N Gadgil Jewellers added 1.38% after the company's consolidated revenue increased by 5.1% in Q4 FY25.
Bank of Maharashtra rose 1.58% after the public sector bank reported that its gross advances jumped 17.84% to Rs 2,40,007 crore as of 31 March 2025, compared to Rs 2,03,664 crore as of 31 March 2024.
Global Markets:
Dow Jones futures is up 647 points, indicating a rebound in the US stocks today.
Asia-Pacific stocks rose on Tuesday, rebounding from previous session's losses over U.S. President Donald Trump's tariff policy and threats of even higher levies against China.
The market jitters followed US President Donald Trump's fiery threat to slap a whopping 50% tariff on imports from Beijing. This came in response to China's own counterpunch: a 34% tit-for-tat tariff on US goods. Not to be outdone, China's Commerce Ministry doubled down on Tuesday, vowing to fight to the end and warning of further countermeasures if Washington follows through.
Even as the rhetoric escalated, Beijing struck a note of restraint. The Commerce Ministry reiterated that it still favored dialogue with the US, cautioning that in a trade war, there are no winners.
The escalating tensions have left global investors rattled. Analysts are now openly worrying about the ripple effects on supply chains, trade routes, and overall economic stability. A full-blown trade war, they warn, could put global growth into a chokehold.
Over in the US, Wall Street had a rough ride Monday. The Dow Jones Industrial Average shed 0.9%, the S&P 500 dipped 0.2%, and the Nasdaq managed a modest 0.1% gain'thanks in part to a late-session tech rebound.
President Trump, meanwhile, remained unmoved by the volatility, reiterating his administration's commitment to reciprocal tariffs, brushing off any talk of a pause.
Among the tech heavyweights, NVIDIA soared 3.5%, and Broadcom Inc. surged 5.4%. Amazon and Meta Platforms also clawed back losses. On the flip side, Apple slid 3.7%, and Tesla tumbled another 2.6%, adding to investor anxiety.
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