The key equity benchmarks ended the day with strong gains, fueled by broad-based buying across sectors. Investor sentiment got a shot in the arm after U.S. President Donald Trump announced a 90-day pause on reciprocal tariffs for all countries except China'though the existing 10% baseline tariffs will remain in place.

On the home front, a supportive domestic backdrop, featuring easing interest rates and a benign inflation outlook, added to the bullish momentum. The Nifty closed comfortably above the 22,800 mark, marking a significant up-move. All sectoral indices ended in the green, with metal, consumer durables, and oil & gas stocks leading the charge.

The S&P BSE Sensex soared 1,310.11 points or 1.77% to 75,157.26. The Nifty 50 index climbed 429.40 points or 1.92% to 22,828.55.

Reliance Industries (up 2.84%), HDFC Bank (up 2.33%) and Bajaj Finance (up 2.29%) boosted the indices.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index surged 1.84% and the S&P BSE Small-Cap index soared 3.04%.

The market breadth was strong. On the BSE, 3,115 shares rose and 846 shares fell. A total of 118 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 6.17% to 20.11.

The Indian stock market will be closed on Monday, 14 April 2025, for Dr. Baba Saheb Ambedkar Jayanti.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was jumped 1.54% to 6.544 as compared with previous close 6.440.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 86.0650, compared with its close of 86.6800 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement gained 1.72% to Rs 93,640.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 1.22% to 99.73.

The United States 10-year bond yield grew 0.30% to 4.404.

In the commodities market, Brent crude for June 2025 settlement added 44 cents or 0.69% to $63.77 a barrel.

Global Markets:

Dow Jones futures are up by 268 points, signaling a strong start for US stocks today.

Most European shares declined on Friday as a volatile week for shares nears its end and concerns about a trade war between the U.S. and China persist.

The U.K.'s monthly real GDP is estimated to has increased by 0.5% in February 2025, with all major sectors contributing to the growth. This marks a positive turnaround following January 2025, which initially showed a 0.1% decline but has since been revised to reflect flat growth.

Asian stocks ended mixed as hopes of relief from President Trump's tariff pause were quickly dashed by an intensifying trade war with China.

The White House clarified Thursday that tariffs on Chinese imports now stand at a staggering 145%, following a social media post by Trump on Truth Social, where he declared a 125% reciprocal tariff in retaliation for Beijing's countermeasures.

Investors had initially cheered Trump's announcement that non-retaliating countries would see their tariffs cut to just 10%, rolling back the steep Liberation Day tariffs imposed on April 2. Treasury Secretary Scott Bessent later clarified that the reduced tariff rate applies to all countries except China, with sector-specific tariffs remaining untouched.

Meanwhile, China has decided to retaliate with additional tariffs on US goods from April 12, taking the total effective rate to 125%.

China's commerce ministry emphasized a willingness to engage in dialogue'but only on the basis of mutual respect and equality. Behind the scenes, China is also reportedly rallying other nations to form a united front against what it views as Washington's economic aggression.

China's consumer prices contracted for the second consecutive month, as the Consumer Price Index (CPI) slipped 0.1% year-on-year in March. The index remained in deflationary territory following a sharper decline of 0.7% in February, according to data released by the National Bureau of Statistics on Thursday.

Investors worried that the trade spat between the two largest economies in the world could easily result in a global recession. Japanese Economy Minister Ryosei Akazawa on Friday, called the tariffs a 'national crisis' and pledging to prioritize negotiations with the U.S.

Wall Street had a rough Thursday. Hopes of a 90-day tariff extension were not enough to soothe nerves, with the S&P 500 plunging 3.46%, the NASDAQ tumbling 4.31%, and the Dow losing 2.5%. Adding to the uncertainty, the first-quarter earnings season kicks off Friday, with major banks set to report.

U.S. consumer prices rose 2.4% in the 12 months through March, easing from February's 2.8%. On a month-to-month basis, prices actually declined by 0.1%, raising fresh questions about inflation trends and Fed policy going forward.

Stocks in Spotlight:

Tata Consultancy Services fell 0.43%. On a consolidated basis, the company reported a 1.26% decline in net profit to Rs 12,224 crore, while revenue from operations rose 0.79% to Rs 64,479 crore in Q4 March 2025 over Q3 December 2024. On a year-on-year basis, the company's consolidated net profit fell 1.69% while revenue from operations increased 5.29% in Q4 March 2024. The company reported total contract value (TCV) performance at $39.4 billion for FY25 and at $12.2 billion for Q4 FY25.

Anand Rathi Wealth added 2.10% after the company's consolidated net profit jumped 29.79% to Rs 73.45 crore in Q4 FY25 as against Rs 56.59 crore in Q4 FY24. Revenue from operations increased 20.44% YoY to Rs 221.95 crore during the quarter.

Cipla rallied 3.23% after the firm received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Paclitaxel, a generic version of Bristol Myers Squibb's Abraxane. The said drug is indicated for the treatment of metastatic breast cancer, advanced or metastatic non-small cell lung cancer (NSCLC), and metastatic pancreatic cancer.

Bajel Projects jumped 6.47% after the company secured ultra-mega EPC orders for power transmission and substation projects across India. As per the company's classification, the value of an 'ultra mega' contract is Rs 400 crore and above.

Gallantt Ispat jumped 6.80% after the company said its board will meet on 16 April 2025 to consider capacity expansion at its units in Gorakhpur, UP.

Rail Vikas Nigam (RVNL) advanced 2.50% after the company emerged as the lowest bidder (L1) for a Rs 143.37 crore Southern Railway project to upgrade the electric traction system in the Salem division from 1x25 kV to 2x25 kV.

Sky Gold and Diamonds hit an upper circuit of 5% after the company secured a recurring export order of 200 kg per month from a reputed jewellery industry client.

Aurionpro Solutions climbed 13.69% after the company's board approved to acquire 100% stake in Fintra Software to enhance its transaction banking offerings.

Morepen Laboratories gained 4.24% after announcing plans to ramp up its salesforce by over 1,000 professionals over the next three years, with 200+ hires expected in FY26 alone.

Rajshree Polypack rallied 7.62% after the company secured a supply order worth Rs 4.76 crore from a major Indian food and beverage brand.

Torrent Power rose 1.9% after the company announced that its wholly owned subsidiary, Torrent Green (TGEPL), has incorporated a new subsidiary named Torrent Urja Projects (TUPPL) in Ahmedabad, Gujarat.

Siyaram Recycling Industries jumped 4.28% after the company received a purchase order worth Rs 10.35 crore from Greenland Trading, Hong Kong, for exporting 200 tons of brass billets to China.

Ajmera Realty & Infra India gained 1.85% after the company reported collections of Rs 182 crore in Q4 FY25, marking an 8.98% rise from Rs 167 crore in Q3 FY25. However, on a year-on-year basis, collections were down 8% compared to Q4 FY24.

Paramatrix Technologies advanced 6.66% after the company announced that it has secured a new domestic service order worth Rs 11.18 crore from a credit rating agency. The contract covers application development and maintenance services, scheduled to run from April 2025 to March 2028.

Sanofi India added 2.38% after the company announced that its managing director (MD), Rodolfo Hrosz, will step down from his role effective 30 April 2025, to take up another position within the Sanofi group.

Sathlokhar Synergys E&C Global zoomed 11% after the company received an order worth Rs 219.22 crore from Ceylon Beverage Can for civil, PEB, MEP, piping, and solar work in Maharashtra and Karnataka.

Deepak Nitrite jumped 7% after the board of its material wholly owned subsidiary, Deepak Chem Tech (DCTL), approved the setting up of a manufacturing complex to produce phenol, acetone, and isopropyl alcohol.

Avalon Technologies rallied 7.06% after the company announced that its board of directors had approved a proposal to invest in Zepco Technologies (Zepco).

Coromandel International advanced 2.63% after the company signed a memorandum of understanding (MoU) with Saudi Arabia Mining Company, Ma'aden for the long-term supply of Di-Ammonium Phosphate (DAP) and NP/NPK fertilisers.

Madhav Infra Projects surged 6.19% after the company announced that its board has approved the acquisition of a 100% equity stake in MSK Projects (I).

Jindal Stainless jumped 6.30% after the company's subsidiary, JSL Super Steel, signed a power purchase agreement (PPA) with Sunsure Energy to source 11 MWp of solar power from Sunsure's 49 MWp Solar Project in Augasi, Uttar Pradesh.

Olectra Greentech gained 5.83% after the firm said that it has received a letter of award (LoA) from the Himachal Road Transport Corporation (HRTC) for the supply and maintenance of 297 electric buses.

Rites rose 3.41% after the company has entered into a transformative memorandum of understanding (MoU) with DP World to explore potential opportunities for collaboration in the development of trade, logistics, and infrastructure projects.

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