Indices edge higher in early trade; breadth strong

The key equity benchmarks traded with minor gains in early trade. The Nifty traded above the 23,300 level. PSU bank, private bank and realty shares advanced, while auto, metal and oil & gas shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, advanced 12.85 points or 0.02% to 76,747.74. The Nifty 50 index added 5.05 points or 0.02% to 23,335.65.

In the broader market, the S&P BSE Mid-Cap index advanced 0.30% and the S&P BSE Small-Cap index rallied 0.69%.

The market breadth was strong. On the BSE, 2,127 shares rose and 715 shares fell. A total of 137 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 6,065.78 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,951.60 crore in the Indian equity market on 15 April 2025, provisional data showed.

Stocks in Spotlight:

Indian Renewable Energy Development Agency (IREDA) surged 7.30% after the companys standalone net profit jumped 48.7% to Rs 501.79 crore in Q4 FY25 as compared with Rs 337.38 crore in Q4 FY24. Total income increased 37.6% YoY to Rs 1914.73 crore in Q4 FY25.

Swiggy rose 1.53% after the company signed a memorandum of understanding (MoU) with the Ministry of Labour & Employment to enhance gig and logistics employment opportunities on the National Career Service (NCS) portal, aiming to create over 12 lakh job opportunities over the next 23 years.

Max India jumped 10.05% after the companys board approved raising funds upto Rs 125 crore through issuance of equity shares via right issue.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 1.59% to 6.518 as compared with the previous close of 6.517.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.5200, compared with its close of 85.8050 during the previous trading session.

MCX Gold futures for the 5 June 2025 settlement rose 1.10% to Rs 94,501.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.47% to 99.69.

The United States 10-year bond yield rose 0.12% to 4.328.

In the commodities market, Brent crude for June 2025 settlement shed 16 cents or 0.25% to $64.51 a barrel.

Global Markets:

Dow Jones futures are down 145 points, indicating a drop in US stocks today.

Most Asian stocks fell on Wednesday after Wall Street declined overnight as investors assessed quarterly earnings, while tariff worries continued to weigh on investor sentiment.

China's economy expanded by 5.4% year-on-year in the first quarter, surpassing expectations. March retail sales rose 5.9%, while industrial production grew by 7.7% compared to the same period last year. Fixed asset investment increased by 4.2% in the JanuaryMarch period. The urban unemployment rate fell to 5.2% in March, easing from 5.4% in February.

In the United States, the three major stock indexes closed lower on Tuesday. The Dow Jones Industrial Average declined 0.38%, the S&P 500 fell 0.17%, and the Nasdaq Composite edged down 0.05%. The losses came after consecutive sessions of gains, amid fading optimism over temporary relief from tariffs and uncertainty surrounding future trade policy under President Donald Trump.

NVIDIA Corporation slid 6% in aftermarket trade after the artificial intelligence major said the government had further restricted exports of its H20 chips to China.

Anticipation of more first-quarter earnings, as well as more cues on the U.S. economy, also kept risk appetite in check.

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