At 09:30 IST, the barometer index, the S&P BSE Sensex, surged 623.19 points or 0.78% to 80,879.94. The Nifty 50 index rose 148.95 points or 0.61% to 24,483.55.
In the broader market, the S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index declined 0.37%.
The market breadth was positive. On the BSE, 1,450 shares rose and 1,193 shares fell. A total of 172 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 50.57 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,792.15 crore in the Indian equity market on 30 April 2025, provisional data showed.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 4.63% to 17.38.
Economy:
India's Goods and Services Tax (GST) collection spiked 12.6% Y-o-Y to an all-time high of about Rs 2.37 lakh crore in April. The GST collection was Rs 2.10 lakh crore in April 2024 -- the second highest collection ever since the roll-out of the indirect tax regime on July 1, 2017. In March 2025, the collection was Rs 1.96 lakh crore, thereby leading to a arround 20% surge in tax collection on monthly basis.
Stocks in Spotlight:
Adani Ports & Special Economic Zone (APSEZ) rallied 5.05% after the company reported a 47.78% jump in consolidated net profit to Rs 3,014.22 crore in Q4 FY25 as compared with Rs 2,039.66 crore in Q4 FY24. Revenue from operations jumped 23.08% YoY to Rs 8488.44 crore during the quarter ended 31st March 2025.
Home First Finance Company India tanked 3.34%. The company's standalone net profit jumped 25.44% to Rs 104.69 crore on 32.58% increase in revenue from operations to Rs 414.66 crore in Q4 FY25 over Q4 FY24.
Tata Motors rose 0.95%. The company's total sales fell 6.15% to 75,753 units in April 2025 as compared with 77,521 units in April 2024. Domestic sales declined 4% to 70,963 units in April 2025 as against 76,399 units in April 2024.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 1.73% to 6.468 as compared with previous close 6.350.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.8800, compared with its close of 84.5400 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement shed 0.43% to Rs 92,736.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.13% to 99.34.
The United States 10-year bond yield rose 0.02% to 4.232.
In the commodities market, Brent crude for July 2025 settlement added 51 cents, or 0.82% to $62.64 a barrel.
Global Markets:
Markets in Asia traded higher after China said that it was evaluating possible trade talks with the U.S.
China markets are closed for the Labor Day public holiday.
China said it is evaluating U.S. overtures to initiate trade negotiations, potentially paving the way for the world's two largest economies to start talks to resolve a trade war that has rumbled financial markets and cast a pall on global economic activity.
While assessing the possibility of starting any negotiations, Chinese authorities reiterated Beijing's request for the U.S. to remove all unilateral tariffs. Failure to do so would indicate an outright lack of sincerity from Washington and further compromise mutual trust, media report said.
U.S. President Donald Trump has slapped tariffs of 145% on imported Chinese goods this year, prompting China to impose retaliatory levies of 125%. So far, both sides have sought to blunt the economic impact of tariffs by granting exemptions on certain critical products.
Most European markets remained closed for trading on May 1 due to a holiday. Europe's regional Stoxx 600 index ended Wednesday in the green, even after global stocks were rattled by news that the U.S. economy contracted 0.3% in the first quarter.
Economic sentiment in the region was helped by data showing the euro zone grew by a higher-than-expected 0.4% in the first quarter.
Investors are monitoring news that Spanish regulators approved the takeover of lender Banco Sabadell by rival BBVA, with the competition watchdog's report now subject to government review and further 'remedies' by the banks.
Overnight stateside, the Dow Jones Industrial Average climbed 83.60 points, or 0.21%, to close at 40,752.96. The S&P 500 gained 0.63% to end at 5,604.14, still slightly below its levels from before President Donald Trump's Liberation Day' tariffs announcement in early April. The Nasdaq Composite increased 1.52%, to close at 17,710.74 and wipe out the decline it experienced since April 2.
Stocks on Wall Street received a boost of optimism after Meta Platforms and Microsoft reported strong quarterly results The earnings of the two big tech stocks eased concerns of a slowdown in artificial intelligence-powered developments amid the current macroeconomic uncertainty.
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