Good morning!

The GIFT Nifty was trading 0.11% or 26 points down at 23,285.50 as of 6:41 a.m.

Most markets in Asia-Pacific were trading lower as market participants awaited China GDP data, while US tariff concerns weighed. The Nikkei 225 and KOSPI were trading 0.42% and 0.39% down, respectively, as of 6:37 a.m.

On Tuesday, the Dow Jones Industrial Average and S&P 500 ended 0.38% down at 40,368.96, while the S&P 500 ended 0.17% down at 5,396.63 as of 6:38 a.m.

The dollar index was trading 0.32% down at 99.90, and the Brent crude was trading 0.15% higher at $64.77 a barrel as of 6:40 a.m. The Bloomberg spot gold was trading 1.27% higher at a record high of $3,271.32.

On Tuesday, the Indian stock market bounced back, recovering all the ground it lost following Trump’s tariff announcement on April 2.

US President Donald Trump’s decision to halt reciprocal tariffs on non-retaliating countries for 90 days last week set off the positive rally.

Nifty 50 closed 2.19% higher at 23,328 as it gained 500 points. The Sensex settled 2.10% higher at 76,734 on the heels of gaining 1,577 points.

Foreign portfolio investors turned net buyers of Indian equities on Tuesday after nine sessions as they mopped up stocks worth Rs 6,065.78 crore.

Domestic institutional investors turned net sellers after four sessions of buying, as they net offloaded equities worth Rs 3,136.02 crore, according to provisional data from the National Stock Exchange.

The Indian rupee strengthened by 28 paise to close at 85.77 against the US dollar.

Earnings In Focus

Wipro, Angle One, Waaree Renewable Technologies and Swaraj Engines are among the companies whose earnings will be in focus on Wednesday.

Earnings Reaction To Watch 

Here are the key companies which posted their quarterly results after the market hours on Tuesday:

ICICI Prudential Life Insurance Co. (Consolidated, YoY)

  • Net premium income up 10.7% at Rs 16,369 crore versus Rs 14,788 crore.

  • Net profit at Rs 385 crore versus Rs 174 crore.

  • AUM up 5.2% at Rs 3.09 lakh crore versus Rs 2.94 lakh crore.

  • Solvency ratio at 212.2% versus 211.8% (QoQ).

  • Board recommends final dividend of Rs 0.85 per share.

 Indian Renewable Energy Development Agency (Consolidated, YoY)

  • Total income up 37.7% at Rs 1,916 crore versus Rs 1,392 crore.

  • Net profit up 48.7% at Rs 502 crore versus Rs 337 crore.

ICICI Lombard General Insurance Co. (YoY)

  • Net premium earned up 19.6% at Rs 5,226 crore versus Rs 4,368 crore.

  • Net profit down 1.9% at Rs 510 crore versus Rs 520 crore.

  • Board recommends final dividend of Rs 7 per share.

Stocks To Watch

  • Gensol Engineering: SEBI has barred the company’s promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, for alleged fund diversion and record falsification. The regulator has barred them from holding key managerial positions, while also halting the company’s announced stock split.

  • IndusInd Bank: The bank received a report from an external agency on Tuesday, revealing a financial impact of Rs 1,979 crore due to derivative accounting discrepancies. This represents 2.27% of the bank’s net worth as of Dec. 31. The bank plans to account for this impact in its fiscal 2025 results.

  • Dabur India: The company’s arm Dabur International FZE will incorporate a new entity in the UK.

  • Blue Dart Express: The firm expanded its express connectivity to Northeast India by adding Guwahati as a direct flying location.

  • Mahanagar Gas: The company’s APM gas allocation has been reduced by 18%, effective April 16, compared to the previous fortnight. This decrease in APM volume has been replaced with new well/well intervention gas, which could negatively affect profitability.

  • NHPC: The company has declared commercial operation of Unit-IV (200 MW) of Parbati-II HE project in Himachal Pradesh.

  • Axis Bank: The private lender will consider fundraising options via equity and debt on April 24.

  • Indraprastha Gas: The city gas distributor also announced that starting April 16, its domestic gas allocation will be reduced by approximately 20%. To offset this, the company has been granted additional new well gas equivalent to approximately 125% of the reduction in domestic gas volumes, priced at 12% of the Indian crude basket.

  • Apeejay Surrendra Park Hotels: The company announced the opening of its new hotel, Zone Connect by The Park, in Jaisalmer.

  • Vedanta: Cairn Oil and Gas, a subsidiary of Vedanta Group has secured seven new blocks in the OALP Round IX auction. This acquisition brings its total to 69 blocks, covering approximately 73,000 square kilometers.

  • Max India: The company has approved raising up to Rs 125 crore via rights issue of shares.

  • Oil India: The company secured nine blocks in OALP Round IX, expanding its exploration portfolio by over 51,000 square kilometers.

  • Sanofi India: The company refutes reports about selling its insulin brand Lantus, stating it has no intentions to sell or license it.

  • Landmark Cars: The company reported a year-on-year increase in total revenue from operations, rising by 17.3% to Rs 1,525 crore compared to Rs 1,300 crore. Vehicle sales also grew by 21.1%, reaching Rs 1,257 crore compared to Rs 1,038 crore.

Trading Tweaks

  • Price band changes from 20% to 5%: Dish TV

  • Ex-date interim dividend: Mazagon Dock Shipbuilders (Rs 3)

  • To be excluded from short-term ASM framework: Punjab & Sind Bank, Baazar Style Retail

F&O Cues

  • Nifty April Futures rose 1.95% at a premium of 12.35 points.

  • Nifty April Futures open interest fell 4.17%.

  • Nifty April 17 expiry: Max call open interest at 24,000, max put open interest at 23,300.

  • Securities in F&O ban: Birlasoft, Hindustan Copper, Manappuram Finance, and National Aluminum Co.

Money Market Update

The Indian rupee appreciated by 28 paise at market close on Tuesday whole the greenback remained little changed amid lower oil prices and recessionary fears.

The local unit settled at 85.77 against the US dollar.

. Read more on Markets by NDTV Profit.The Indian rupee appreciated by 28 paise at market close on Tuesday as the greenback remained little changed amid lower oil prices and recessionary fears.  Read MoreMarkets, Business, Notifications 

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