Sensex, Nifty surge over 1%; broader mkt outperforms

The key domestic indices ended with substantial gains today, extending their rally for the fifth consecutive session, led by strong performances in banking stocks after ICICI Bank and HDFC Bank posted robust Q4 results. Investors also awaited upcoming earnings reports from other major companies. The Nifty ended above the 24,100 level.

PSU Bank shares witnessed buying demand for the fifth consecutive trading session.

Meanwhile, investors will closely monitor 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.

As per provisional closing data, the barometer index, the S&P BSE Sensex, zoomed 855.30 points or 1.09% to 79,408.50. The Nifty 50 index surged 273.90 points or 1.15% to 24,125.55. In five consecutive trading sessions, the Sensex and Nifty jumped 7.53% and 7.71%, respectively.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 2.20% and the S&P BSE Small-Cap index advanced 1.67%.

The market breadth was strong. On the BSE, 2,921 shares rose and 1,167 shares fell. A total of 159 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.30% to 15.52.

Buzzing Index:

The Nifty PSU Bank index jumped 2.47% to 6,683.90. The index jumped 9.71% for the fifth trading session.

Punjab & Sind Bank (up 6.83%), Bank of Maharashtra (up 5.29%), Indian Overseas Bank (up 3.43%), Central Bank of India (up 3.31%), Canara Bank (up 3.21%), Punjab National Bank (up 2.9%), UCO Bank (up 2.83%), Bank of Baroda (up 2.82%), State Bank of India (up 2.55%) and Bank of India (up 2.29%) surged.

Stocks in Spotlight:

HDFC Bank rose 1.02% after the private bank reported a 6.68% increase in standalone net profit to Rs 17,616.14 crore in Q4 FY25 as against Rs 16,511.85 crore posted in Q4 FY24. Total income shed marginally to Rs 89,487.99 crore in Q4 FY25, down 0.17%, compared to Rs 89,639 crore reported in the same period a year ago. Meanwhile, the company has declared a dividend of Rs 22 per equity share for FY25. The company has fixed the record date as Friday, 27 June 2025.

ICICI Bank added 0.07%. The company reported a standalone net profit of Rs 12,629.58 crore in Q4 FY25, up 17.95% as against Rs 10,707.53 crore posted in Q4 FY24. Total income increased 14% YoY to Rs 49,690.87 crore in Q4 FY25. Meanwhile, the banks board recommended a dividend of Rs 11 per equity share of face value of 2 each, subject to requisite approvals.

HDFC Asset Management Company jumped 5.68% after the companys standalone net profit rose 18.04% to Rs 638.73 crore on 20.46% surge in total income to Rs 1,025 crore in Q4 FY25 over Q4 FY24.

Jio Financial Services (JFSL) shed 0.18%. The company reported a 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 soared 11.16% after the company reported a 36.3% jump in standalone net profit to Rs 157.60 crore on a 7% increase in revenue from operations to Rs 289.20 crore in Q4 FY25 over Q4 FY24.

Infosys added 1.96% after the IT major reported a 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. Meanwhile, the companys board declared final dividend of Rs 22 per share for FY25.

Yes Bank jumped 4.26% after the private bank reported a 63.34% surge in standalone net profit to Rs 738.12 crore in Q4 FY25 as against Rs 451.89 crore posted in Q4 FY24. The banks total income rose 3.76% YoY to Rs 9,355.39 crore in the quarter ended 31 March 2025.

Devyani International rallied 4.23% after the company announced that its board will meet on Thursday, 20 April 2025, to consider acquiring a majority stake in Sky Gate Hospitality, which operates restaurants under the brand name Biryani by Kilo.

International Gemmological Institute India hit an upper circuit of 5% after the companys consolidated net profit gained 11.62% to Rs 140.73 crore on a 9.6% increase in revenue from operations to Rs 304.74 crore in Q1 CY25 over Q1 CY24.

Liberty Shoes was locked in a 20% upper circuit at Rs 406.55 after the company stated that it has crossed a remarkable number of its top line in its history with improved EBITDA and overall financial performance.

Global Markets:

Dow Jones futures dropped 403 points, 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.

The European markets will remain closed today in observance of Easter Monday.

Asian stocks advanced 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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