Bulls Likely to Extend Their Run on D-Street Despite Lukewarm IIP Growth; Bajaj Twins' Earnings in Focus
Pre-Market Update: Indian equity benchmark indices are likely to show a stable opening on Tuesday, taking cues from Asian markets.
Gift Nifty indicates a listless opening for Indian benchmark indices, as it was trading around the 28,496 mark (as of 7:45 AM), reflecting a premium of about 27 points over the previous close of Nifty futures. Domestic markets ended higher on Monday, supported by a strong rally in Reliance Industries following its robust Q4 results. Adding to the institutional buying interest, FIIs remained net buyers for the last nine trading sessions.
The Bajaj twins, Bajaj Finserv and Bajaj Finance, are set to announce their Q4 earnings today. The Nifty Bank and Financial indices will be under watch. Yesterday, the Nifty Bank index rose 1.41 per cent, closing above the 55,400 mark and outperforming the broader Nifty 50.
After market hours, MOSPI released the IIP data, showing that India’s industrial production remained nearly unchanged. Details are as follows:
India’s industrial production growth remained nearly unchanged at 3% in March compared to the previous month. However, on a year-on-year basis, it declined from 5.5%, largely due to weak performance across the manufacturing, mining, and power sectors. For the fiscal year 2024-25, the Index of Industrial Production (IIP) grew at a four-year low of 4%, down from 5.9% recorded in 2023-24.
On Tuesday, there are total of 41 companies announcing their Q4 FY25 results. Investors can keep an eye on major companies like Bajaj Finance, Bajaj Finserv, Trent, Bharat Petroleum Corporation and Ambuja Cements.
Foreign Institutional Investors (FIIs) were net buyers, purchasing ₹2,474.10 crore worth of shares on April 28, 2025. Domestic Institutional Investors (DIIs) purchased shares worth ₹2,817.64 crore during the same period.
FIIs remain net buyers for the last nine trading sessions, infusing optimism in the Indian stock market, while DIIs are following the same trend since the last two trading sessions.
Asian markets edged higher on Tuesday as investors kept a close watch on trade deal discussions between the US and regional economies. Japanese stock exchanges remained shut due to a public holiday. In South Korea, the Kospi hovered near the flatline, while the Kosdaq advanced by 0.39%. Futures for Hong Kong’s Hang Seng index started trading on flat note, gaining 0.03% in early trade.
US markets posted a mixed close on Monday as investors awaited earnings from key tech companies and important economic data later in the week. Uncertainty around US-China trade talks kept sentiment cautious. The Dow Jones Industrial Average climbed 114.09 points, or 0.28%, to finish at 40,227.59. The S&P 500 added 3.54 points, or 0.06%, to 5,528.75. Meanwhile, the Nasdaq Composite slipped 16.81 points, or 0.10%, to end at 17,366.13.
US Treasury Secretary Scott Bessent mentioned that several key trading partners have presented “very good” offers to avert US tariffs, with India expected to be among the first to finalise an agreement. He also noted that China’s recent decision to exempt certain American products from its retaliatory tariffs indicates a willingness to ease tensions between the two largest economies in the world.
Gold prices edged lower as easing trade tensions between the United States and its trading partners reduced the metal’s appeal as a safe-haven asset. Spot gold slipped by 0.3% to $3,332.99 per ounce.
Crude oil prices also moved lower as the ongoing US-China trade conflict led investors to trim their global demand growth forecasts. Brent crude futures declined by 0.4% to $65.61 per barrel, and US West Texas Intermediate (WTI) crude futures fell 0.3% to $61.87 a barrel.
The US dollar managed to stabilise after heavy losses in the previous session. The dollar index was last seen at 99.079 against a basket of major currencies.
Disclaimer: The article is for informational purposes only and not investment advice.
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