Barometers trade with significant gains; consumer durables shares rally

The domestic equity benchmarks traded with strong gains in 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 22,400 level.

Consumer durables shares advanced after declining in the past two consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, climbed 789.36 points or 1.07% to 73,927.35. The Nifty 50 index soared 264.05 points or 1.19% to 22,425.65.

The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index jumped 1.21% and the S&P BSE Small-Cap index surged 1.59%.

The market breadth was strong. On the BSE, 2,782 shares rose and 702 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, dropped 10.63% to 20.37.

Buzzing Index:

The Nifty Consumer Durables index jumped 2.35% to 34,808.75. The index tumbled 4.89% in the past two consecutive trading sessions.

PG Electroplast (up 5.36%), Amber Enterprises India (up 4.24%), V-Guard Industries (up 3.74%), Titan Company (up 3.65%), Whirlpool of India (up 2.96%), Dixon Technologies (India) (up 2.18%), Bata India (up 1.76%), Cera Sanitaryware (up 0.84%), Crompton Greaves Consumer Electricals (up 0.8%) and Century Plyboards (India) (up 0.67%) advanced.

Stocks in Spotlight:

Mahindra & Mahindra (M&M) rose 0.64%. The company said that its total production jumped 23.51% to 88,701 units in the month of March 2025, compared with 71,814 units produced in the same period last year.

Titan Company rallied 3.96% after the companys standalone revenue jumped 25% year on year (YoY) in the fourth quarter of FY25.

Lemon Tree Hotels added 1.61% after the company announced that it has signed a license agreement viz. Lemon Tree Hotel, Darjeeling.

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