Indices trade with moderate gains in early trade; breadth positive

The key equity benchmarks traded with decent gains in early trade. The Nifty traded above the 23,950 mark. Banking stocks, IT and oil & gas shares advanced while FMCG, media and realty shares declined.

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 2126 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 09:25 IST, the barometer index, the S&P BSE Sensex, advanced 452.52 points or 0.58% to 79,005.72. The Nifty 50 index added 108.75 points or 0.46% to 23,960.40.

In the broader market, the S&P BSE Mid-Cap index jumped 0.64% and the S&P BSE Small-Cap index advanced 0.27%.

The market breadth was positive. On the BSE, 1,853 shares rose and 1,256 shares fell. A total of 183 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 4,667.94 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 2,006.15 crore in the Indian equity market on 17 April 2025, provisional data showed.

Stocks in Spotlight:

Infosys 1.80% after the company 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.

Jio Financial Services (JFSL) rose 0.63%. 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 rallied 6.82% 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.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 1.37 % to 6.459 as compared with the previous close of 6.370.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.1625, compared with its close of 85.3850 during the previous trading session.

MCX Gold futures for the 5 June 2025 settlement were rose 1.06% to Rs 96,305.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.98% to 98.39.

The United States 10-year bond yield rose 0.49% to 4.348.

In the commodities market, Brent crude for June 2025 settlement shed 99 cents or 1.46% to $ 66.97 a barrel.

Global Market:

Dow Jones futures dropped 331 points this morning, 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 Monday after the Peoples 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 administrations 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 Feds 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 talksthough they would appreciate a bit more respect and a bit less finger-pointing from Washington.

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