Market at day's high; private bank shares climb

The key equity benchmarks traded with substantial gains in mid-morning trade as investors awaited Q4 results from the bluechip companies, with optimism about the economic recovery lifting sentiment. The Nifty climbed above the 24,000 level.

Private banking stocks jumped as upbeat Q4 results from ICICI Bank, YES Bank, and HDFC Bank boosted investor confidence, driving the index higher for a fifth session in a row.

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 21'26 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 11:25 IST, the barometer index, the S&P BSE Sensex, advanced 845.55 points or 1.08% to 79,423.77. The Nifty 50 index added 277.35 points or 1.16% to 24,129.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 1.72% and the S&P BSE Small-Cap index advanced 1.25%.

The market breadth was strong. On the BSE, 2,775 shares rose and 1,060 shares fell. A total of 192 shares were unchanged.

Buzzing Index:

The Nifty Private Bank index rallied 2.19% to 27,744.75. The index jumped 10.97% for the five trading sessions.

IndusInd Bank (up 5.57%), IDFC First Bank (up 4.86%), Yes Bank (up 4.81%), Bandhan Bank (up 4.21%), RBL Bank (up 3.9%), Axis Bank (up 3.69%), Federal Bank (up 3.2%), Kotak Mahindra Bank (up 0.95%), HDFC Bank (up 0.85%) and ICICI Bank (up 0.68%) advanced.

Stocks in Spotlight:

Interarch Building Products gained 3.74% after the company secured the largest-ever single pre-engineered building (PEB) order, valued at over Rs 300 crore, from one of India's most advanced tyre manufacturing facilities.

Kolte-Patil Developers added 2.97% after the company reported 15.07% decline in sales value to Rs 631 crore in Q4 FY25 as against Rs 743 crore reported in Q4 FY24. Sales volume declined 22.33% to 0.80 million square feet in Q4 FY25 from 1.03 million square feet in the same quarter of the previous year.

Dynacons Systems & Solutions surged 6.61% after the company secured a digital workplace solutions contract from Life Insurance Corporation of India (LIC) worth Rs 138.44 crore.

Global Market:

Dow Jones futures dropped 324 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 People's 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 administration's 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 Fed's 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 talks'though they would appreciate a bit more respect and a bit less finger-pointing from Washington.

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