Barometers pare losses; consumer durables shares rally; VIX jumps 1.94%

The headline equity benchmarks pared all losses and traded with small gains in the mid-morning trade, despite mixed global cues and ongoing concerns over potential tariff changes and rising geopolitical tensions. The Nifty traded above the 24,350 mark. Consumer durables shares advanced for the second consecutive trading session.

At 11:30 IST, the barometer index, the S&P BSE Sensex, added 132.04 points or 0.16% to 80,348.50. The Nifty 50 index rose 29.50 points or 0.12% to 24,357.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.46% and the S&P BSE Small-Cap index added 0.47%.

The market breadth was positive. On the BSE, 2,097 shares rose and 1,511 shares fell. A total of 171 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.94% to 17.27.

IPO Update:

The initial public offer of Ather Energy received bids for 1,12,38,812 shares as against 5,33,63,160 shares on offer, according to stock exchange data at 11:15 IST on 29 April 2025. The issue was subscribed 0.21 times.

The issue opened for bidding on 28 April 2025 and it will close on 30 April 2025. The price band of the IPO is fixed between Rs 304 and Rs 321 per share. An investor can bid for a minimum of 46 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Consumer Durables index rose 0.69% to 37,453.65. The index added 0.69% in the two consecutive trading sessions.

Whirlpool of India (up 9.1%), Dixon Technologies (India) (up 1.4%), Kajaria Ceramics (up 1.3%), Crompton Greaves Consumer Electricals (up 1.05%), Havells India (up 0.96%), Cera Sanitaryware (up 0.81%), Voltas (up 0.31%), Bata India (up 0.29%), V-Guard Industries (up 0.22%) and Blue Star (up 0.19%) added.

On the other hand, Amber Enterprises India (down 0.89%), PG Electroplast (down 0.76%) and Kalyan Jewellers India (down 0.17%) edged lower.

Stocks in Spotlight:

PNB Housing Finance surged 7.17% after the company's net profit increased by 25% year-on-yeart and 14% quartter-on-quarter to Rs 550 crore in Q4 March 2025. Net interest income grew by 16.2% YoY and 5.5% QoQ to Rs 734 crore during the quarter.

Diamond Power Infrastructure rose 2.11% after the company secured two orders worth over Rs 230 crore to supply power cables to Rajesh Power Services and Adani Electricity Mumbai.

KFin Technologies added 3.22% after the company's consolidated net profit jumped 14.22% to Rs 85.05 crore in Q4 FY25 as compared with Rs 74.46 crore in Q4 FY24. Revenue from operations increased 23.8% YoY to Rs 282.69 crore in Q4 FY25.

Global Markets:

Asian stocks traded higher on Tuesday as investors waited to see the extent of the impact of U.S. President Donald Trump's tariffs on corporate earnings and economic data expected from Wall Street this week.

Meanwhile, market watchers were glued to updates on negotiations between the U.S. and various countries in the region, hoping for any signs of a breakthrough.

In Japan, markets were closed for a public holiday.

Back in the U.S., Wall Street served up modest gains on Monday. The Dow Jones Industrial Average added 0.3%, the S&P 500 inched up 0.1%, and the Nasdaq Composite dipped ever so slightly by 0.1%, as investors digested fresh comments from U.S. Treasury Secretary Scott Bessent.

In an interview, Bessent struck a cautiously optimistic tone, mentioning that many countries have offered very good tariff proposals to the U.S. He also emphasized that all parts of the U.S. government remain in touch with China ' although Beijing earlier insisted no talks had happened.

Investors are gearing up for a packed calendar, featuring the Federal Reserve's favorite inflation metric ' the PCE Price Index ' along with the highly anticipated monthly jobs report. Plus, first-quarter GDP numbers are due, which could set the tone for the markets heading into the summer.

The so-called Magnificent Seven megacaps ' Apple, Microsoft, Amazon, and Meta Platforms among them ' are all set to drop their earnings this week.

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