Indian benchmark indexes ended in the green for a second consecutive session on Tuesday, buoyed by optimism over a potential trade deal with the U.S. and sustained inflows from foreign portfolio investors, though gains were capped by lingering concerns over geopolitical tensions with Pakistan.
The benchmark BSE Sensex added 70.01 points or 0.09% to close at 80,288.38, while the broader Nifty 50 index closed at 24,335.95, higher by 7.45 points or 0.03%.
The market capitalization of all listed companies on the BSE decreased by Rs 69,285 crore to Rs 426.11 lakh crore.
Sector Watch
Nifty heavyweight Reliance Industries climbed 2.3%, extending Monday’s 5.3% rally to a six-month high after posting better-than-expected quarterly earnings. The stock notched its strongest two-day gain in 15 months.
Among individual movers, auto component makers saw gains after U.S. Commerce Secretary said President Donald Trump would act to ease the impact of auto tariffs. Samvardhana Motherson rose 0.8%, while Sona BLW surged 6.2%.
U.S. Treasury Secretary Scott Bessent said a trade deal with India could be signed as early as this week or next. Indian officials also noted “positive progress” in bilateral negotiations on Tuesday.
Shares of Trent closed nearly 5% higher after reporting March quarter net profit above Street estimates of Rs 303 crore, with results announced minutes before the market closing bell.
Financials were the biggest drag on the session, slipping 0.3%, weighed down by heavyweight lender HDFC Bank, which fell 0.7% and emerged as the top laggard on the Nifty 50.
In the broader market, mid-cap and small-cap stocks rose 0.3% and 0.4%, respectively.
Expert View
The national market exhibited largely range-bound oscillation, as caution prevailed amid geopolitical concerns over border tensions, said Vinod Nair, Head of Research at Geojit Investments, adding that the sustained inflows from FIIs provided support to market sentiment and restricted further pessimism.
"Meanwhile, mixed Q4 results have raised the risk of downward revisions to FY26 projections. In combination with apprehensions surrounding potential retaliatory actions, these developments may lead to some consolidation in the near term," said Nair.
Global Markets
The S&P 500 and Dow closed higher on Monday after a volatile session, while gold rose as investors awaited progress on tariff talks amidst a busy week of corporate earnings and economic data. European stocks gained, buoyed by optimism over easing U.S.-China trade tensions.
MSCI’s global stock index climbed 0.41% to 828.09. The pan-European STOXX 600 index gained 0.53%, and the FTSEurofirst 300 rose 0.49%.
Emerging market stocks gained 0.58%, with MSCI's Asia-Pacific index outside Japan up 0.62%. Japan's Nikkei rose 0.38%, adding 134.25 points to 35,839.99.
U.S. Treasury yields fell ahead of key earnings and data releases, with the 10-year yield dropping 5.6 basis points to 4.21%.
The dollar index fell 0.8% to 98.93, while the euro rose 0.51% to $1.1422. Gold prices gained amid a weaker dollar, with spot gold rising 0.98% to $3,350.59 an ounce, and U.S. gold futures up 0.06% to $3,284.50 an ounce.
FII/DII Tracker
Foreign institutional investors (FIIs) purchased equities worth Rs 2,474 crore on April 28, extending their buying streak to nine consecutive sessions and turning net buyers for the month. Meanwhile, domestic institutional investors (DIIs) maintained their buying momentum for the second straight day, acquiring stocks worth Rs 2,817 crore.
Currency Watch
The Indian rupee saw sharp swings on Tuesday before closing lower, as escalating concerns over India-Pakistan tensions dominated market sentiment and pushed near-term implied volatility to a more than two-year high. The currency briefly touched a year-to-date high of 84.95 against the U.S. dollar before retreating to a low of 85.3875, ultimately ending 0.3% weaker at 85.2625.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, rose 0.16% to 99.17.
Crude Impact
Crude oil prices declined on Tuesday as the ongoing U.S.-China trade war dampened demand growth expectations in the world’s two largest economies. Brent crude futures dropped 59 cents, or 0.9%, to $65.27 per barrel by 08:24 GMT.
The benchmark BSE Sensex added 70.01 points or 0.09% to close at 80,288.38, while the broader Nifty 50 index closed at 24,335.95, higher by 7.45 points or 0.03%.
The market capitalization of all listed companies on the BSE decreased by Rs 69,285 crore to Rs 426.11 lakh crore.
Sector Watch
Nifty heavyweight Reliance Industries climbed 2.3%, extending Monday’s 5.3% rally to a six-month high after posting better-than-expected quarterly earnings. The stock notched its strongest two-day gain in 15 months.
Among individual movers, auto component makers saw gains after U.S. Commerce Secretary said President Donald Trump would act to ease the impact of auto tariffs. Samvardhana Motherson rose 0.8%, while Sona BLW surged 6.2%.
U.S. Treasury Secretary Scott Bessent said a trade deal with India could be signed as early as this week or next. Indian officials also noted “positive progress” in bilateral negotiations on Tuesday.
Shares of Trent closed nearly 5% higher after reporting March quarter net profit above Street estimates of Rs 303 crore, with results announced minutes before the market closing bell.
Financials were the biggest drag on the session, slipping 0.3%, weighed down by heavyweight lender HDFC Bank, which fell 0.7% and emerged as the top laggard on the Nifty 50.
In the broader market, mid-cap and small-cap stocks rose 0.3% and 0.4%, respectively.
Expert View
The national market exhibited largely range-bound oscillation, as caution prevailed amid geopolitical concerns over border tensions, said Vinod Nair, Head of Research at Geojit Investments, adding that the sustained inflows from FIIs provided support to market sentiment and restricted further pessimism.
"Meanwhile, mixed Q4 results have raised the risk of downward revisions to FY26 projections. In combination with apprehensions surrounding potential retaliatory actions, these developments may lead to some consolidation in the near term," said Nair.
Global Markets
The S&P 500 and Dow closed higher on Monday after a volatile session, while gold rose as investors awaited progress on tariff talks amidst a busy week of corporate earnings and economic data. European stocks gained, buoyed by optimism over easing U.S.-China trade tensions.
MSCI’s global stock index climbed 0.41% to 828.09. The pan-European STOXX 600 index gained 0.53%, and the FTSEurofirst 300 rose 0.49%.
Emerging market stocks gained 0.58%, with MSCI's Asia-Pacific index outside Japan up 0.62%. Japan's Nikkei rose 0.38%, adding 134.25 points to 35,839.99.
U.S. Treasury yields fell ahead of key earnings and data releases, with the 10-year yield dropping 5.6 basis points to 4.21%.
The dollar index fell 0.8% to 98.93, while the euro rose 0.51% to $1.1422. Gold prices gained amid a weaker dollar, with spot gold rising 0.98% to $3,350.59 an ounce, and U.S. gold futures up 0.06% to $3,284.50 an ounce.
FII/DII Tracker
Foreign institutional investors (FIIs) purchased equities worth Rs 2,474 crore on April 28, extending their buying streak to nine consecutive sessions and turning net buyers for the month. Meanwhile, domestic institutional investors (DIIs) maintained their buying momentum for the second straight day, acquiring stocks worth Rs 2,817 crore.
Currency Watch
The Indian rupee saw sharp swings on Tuesday before closing lower, as escalating concerns over India-Pakistan tensions dominated market sentiment and pushed near-term implied volatility to a more than two-year high. The currency briefly touched a year-to-date high of 84.95 against the U.S. dollar before retreating to a low of 85.3875, ultimately ending 0.3% weaker at 85.2625.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, rose 0.16% to 99.17.
Crude Impact
Crude oil prices declined on Tuesday as the ongoing U.S.-China trade war dampened demand growth expectations in the world’s two largest economies. Brent crude futures dropped 59 cents, or 0.9%, to $65.27 per barrel by 08:24 GMT.
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