Sensex gains 346 pts; broader market outperforms; Marico gains over 3%

The key equity indices traded with modest gains in the mid-morning trade, supported by easing global trade tensions, persistent foreign inflow and a continued rise in India's foreign exchange reserves, which climbed for the eighth straight week. Nifty traded above the 24,450 mark. FMCG shares advanced after declining in the past three consecutive trading sessions.

At 11:30 IST, the barometer index, the S&P BSE Sensex, gained 346.38 points or 0.43% to 80,848.37. The Nifty 50 index rose 126.45 points or 0.52% to 24,473.15.

The broader market outperformed the frontline indices. the S&P BSE Mid-Cap index rallied 1.03% and the S&P BSE Small-Cap index gained 0.88%.

The market breadth was strong. On the BSE, 2,460 shares rose and 1,271 shares fell. A total of 206 shares were unchanged.

Economy:

India's foreign exchange reserves (Forex) rose by USD 1.983 billion to USD 688.129 billion in the week that ended on April 25, extending gains for the eighth straight week, official data released by the Reserve Bank of India (RBI) this week showed.

The RBI data shows that foreign currency assets (FCAs) witnessed an uptick of USD 2.168 billion reaching at USD 580.663 billion.

In the reported week, the gold reserves with the RBI declined by USD 207 million, standing at USD 84.365 billion.

The Special Drawing Rights (SDRs), which are kept with the International Monetary Fund (IMF), witnessed a rise reaching USD 18.589 billion, up USD 21 million in the reporting week.

India's foreign exchange reserves rose USD 8.310 billion to USD 686.145 billion in the week that ended on April 18.

Buzzing Index:

The Nifty FMCG index gained 1.24% to 56,949.75. The index shed 0.65% in the past three consecutive trading sessions.

Marico (up 3.03%), Radico Khaitan (up 2.68%), Godrej Consumer Products (up 1.81%), Varun Beverages (up 1.7%), ITC (up 1.49%), Colgate-Palmolive (India) (up 1.36%), Hindustan Unilever (up 1.20%), Emami (up 0.97%), Tata Consumer Products (up 0.92%) and Britannia Industries (up 0.91%) advanced.

Marico rallied 3.03% after the company reported a 7.86% jump in consolidated net profit to Rs 343 crore in Q4 FY25 as compared with Rs 318 crore in Q4 FY24. Revenue from operations increased 19.84% to Rs 2,730 crore during the quarter as compared with Rs 2,278 crore in Q4 FY24.

Stocks in Spotlight:

IRCON International rallied 3.20% after the company received an package-I contracrt worth Rs 458.14 crore from North Eastern Electric Power Corporation for the construction of Tato-I Hydro Electric Project in Arunachal Pradesh.

R R Kabel surged 13.86% after the company's consolidated net profit jumped 64.04% to Rs 129.13 crore on a 26.44% increase in revenue from operations to Rs 2,217.84 crore in Q4 FY25 over Q4 FY24.

Tatva Chintan Pharma Chem declined 1.97% after the company's consolidated net profit tanked 89.28% to Rs 1.03 crore in Q4 FY25, compared with Rs 9.61 crore psoted in Q4 FY24. However, revenue from operations rose 9.76% to Rs 107.86 crore in Q4 FY25 as against Rs 98.26 crore posted in Q4 FY24.

Global Markets:

The US Dow Jones index futures were currently down by 279 points, signaling a negative opening for US stocks today.

Asian markets were mostly closed today due to public holidays in countries like Japan, South Korea, Hong Kong and China. However, the Singapore market remained open and traded in the green.

Investors remained cautious ahead of potential U.S.-China trade negotiations and the upcoming U.S. Federal Reserve policy meeting later in the week.

China stated last week that it is considering trade discussions with the United States, emphasizing that any talks must be based on mutual sincerity and the removal of unilateral tariffs. This statement followed recent U.S. comments indicating a willingness to resume negotiations.

In the United States, equities closed higher on Friday, supported by gains in the financial, industrial, and oil and gas sectors. The Dow Jones Industrial Average rose by 1.39%, the S&P 500 gained 1.47%, and the NASDAQ Composite advanced 1.51%.

Apple Inc. shares declined by over 3% following the company's announcement of approximately $900 million in expected tariff-related costs for the upcoming quarter. Although Apple reported fiscal second-quarter earnings that exceeded expectations'driven by stronger-than-anticipated iPhone sales'concerns over tariffs tempered investor sentiment.

Amazon stock ended marginally lower after the company issued softer guidance for the current quarter and reported slower growth in its cloud computing division.

U.S. nonfarm payrolls increased by 177,000 in the previous month, exceeding expectations and suggesting continued strength in the labor market despite trade policy uncertainties. This followed a downwardly revised gain of 185,000 in March. The unemployment rate remained steady at 4.2%, while average hourly earnings rose by 0.2%, down slightly from the previous month's 0.3% increase.

The Federal Reserve is set to begin its two-day policy meeting on Tuesday. It is widely expected to keep interest rates unchanged amid global economic uncertainty. Fed Chair Jerome Powell recently indicated a cautious stance, citing inflation concerns linked to trade tariffs, despite calls from President Donald Trump and Treasury Secretary Scott Bessent to reduce policy rates.

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