Nifty above 24,950 mark; auto shares in demand

The key equity indices traded with modest gains in morning trade, supported by U.S. President Donald Trump initially issuing and then softening threats of increased tariffs on European imports over the weekend, and by the Reserve Bank of India's decision to pay Rs 2.68 lakh crore as a dividend to the central government for FY25. Investors will closely watch the global trade development and upcoming Q4 results from various companies. The Nifty traded above the 24,950 mark.

Auto shares jumped for the second consecutive trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, added 371.28 points or 0.45% to 82,092.36 The Nifty 50 index advanced 103.80 points or 0.43% to 24,959.30.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index advanced 0.54% and the S&P BSE Small-Cap index jumped 0.62%.

The market breadth was strong. On the BSE, 2,285 shares rose and 1382 shares fell. A total of 229 shares were unchanged.

Economy:

The Reserve Bank of India (RBI) on Friday handed the government a whopping Rs 2.68 lakh crore in surplus for FY25, 27% more than last year and even higher than what the Union Budget had estimated. Analysts suggest that this additional amount could support the government?s objective of reducing the fiscal deficit to 4.4% for the current financial year.

Results Today:

Action Construction Equipment (up 3.16%), Akums Drugs and Pharmaceuticals (up 1.47%), Aurobindo Pharma (down 0.16%), Awfis Space Solutions (up 0.11%), Balaji Amines (up 0.96%), Bayer CropScience (up 2.11%), Blue Dart Express (up 1.81%), Capacite Infraprojects (up 0.72%), Brainbees Solutions (up 0.13%), General Insurance Corporation of India (up 1.09%), Gillette India (up 1.35%), Goldiam International(down 0.79%), Hi-Tech Pipes (up 0.12%), Infibeam Avenues (up 0.45%) and Nazara Technologies (down 2.22%) will declare their results later today.

Buzzing Index:

The Nifty Auto index jumped 1.17% to 23,791.35. The index jumped 1.41% in the second consecutive trading session.

Tata Motors (up 2.62%), Mahindra & Mahindra (up 2.54%), Hero MotoCorp (up 2.16%), Samvardhana Motherson International (up 1.65%), Bajaj Auto (up 1.57%), MRF (up 1.25%), Eicher Motors (up 1.12%), Exide Industries (up 0.8%), Bharat Forge (up 0.71%) and TVS Motor Company (up 0.57%) advanced.

Stocks in Spotlight:

Dr Reddys Laboratories rose 0.91%. The company said that the United States Food & Drug Administration (US FDA), post a GMP inspection, has issued a Form 483 with 2 observations to the company?s Telangana-based manufacturing facility.

Ashoka Buildcon advanced 1.85%. The company reported a 77.78% year-on-year decline in standalone net profit at Rs 59.63 crore for the quarter ended March 2025, compared to Rs 268.46 crore in the corresponding quarter of the previous fiscal. Revenue from operations tumbled 21% year-on-year to Rs 1,974.82 crore in Q4 FY25, compared to the same quarter last year.

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