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WEEKLY MARKET REPORT
Indian benchmark indices ended with marginal losses in the volatile week that ended on April 11 on concerns over tariff war. Still, the US president’s unexpected 90-day pause on reciprocal tariffs provided some relief to investors on the final day of the week.
For the week, the BSE Sensex index fell 207.43 points or 0.27 percent to end at 75,157.26, and Nifty50 declined 75.9 points or 0.33 percent to close at 22,828.55.
Considering the broader indices, the BSE Large cap index was down 0.2 percent, while the BSE Midcap index also declined 0.5 percent, and the BSE Smallcap index ended marginally lower.
On the sectoral front, the Nifty Realty index shed 4 percent, the Nifty Metal index was down 3 percent, the Nifty IT index declined 2.3 percent, Nifty PSU Bank index shed 1.5 percent. On the other Nifty Consumer Durable and FMCG added more than 3 percent each.
In this week, Hindustan Unilever added the most to its market value, followed by Reliance Industries, ITC, and Titan Company. On the other hand, Tata Consultancy Services, Larsen & Toubro, and Infosys lost the most of their market-cap.
Foreign Institutional Investors (FIIs) extended their selling this week as they sold equities worth Rs 20,911.30 crore, while Domestic Institutional Investors (DII) bought equities worth Rs 21,955.62 crore.
The Indian rupee ended lower against the US dollar as it fell 82 paise at 86.05 per dollar on April 11 against the April 4 closing of 85.23.
ECONOMY
Impact of US-China tariffs on developing countries
The International Trade Centre (ITC) has warned that the trade tensions between two big players like the US and China could have a catastrophic effect on developing countries. Global trade could shrink by 3-7% and global gross domestic product by 0.7%, with developing countries the worst affected. For instance, Bangladesh, a major apparel exporter, could see a $3.3 billion reduction in annual exports to the US by 2029 if current tariffs persist. ITC suggests that the affected countries explore regional trade partnerships or target European markets to mitigate these adverse effects.
GAIL India seeks stake in US LNG
The authority has issued a tender on Friday to buy up to 26 percent stake in a liquefied natural gas project in the United States combined with a 15-year gas import deal, aiding New Delhi’s efforts to narrow its trade surplus with Washington. The agreement is to import 1 million metric tons of LNG annually starting between 2029 and 2030. This initiative aligns with India’s strategy to reduce its $45.7 billion trade surplus with the U.S. and enhance energy imports. India’s largest gas distributor and the world’s fourth largest LNG importer is considering both existing and new LNG projects, with the tender submission deadline set for April 28.
STOCK IN NEWS
Muthoot Finance
Shares of the company declined over 6 percent, following the RBI’s release of draft guidelines on gold-backed loans. This move has scared investors and caused a sharp intraday volatility and surge in trading volumes. The sell-off was sharp enough to briefly push the stock into a 10% lower circuit before a partial recovery.
Sun Pharma
Emkay Global Financial has made a report on Sun Pharma. The financial services company has maintained a buy rating on Sun Pharma stock with a target price of Rs 2400 in its research report. This recommendation is based on the company’s strong performance in its domestic and global specialty segments despite challenges in the U.S. generics market.
JP Morgan Chase & Co
JP Morgan Chase reported a strong first-quarter 2025 performance, with net income rising to $14.6 billion, up from $13.4 billion in the same period last year. The shares of the company have increased more than 10 percent in the past week. Despite the strong results, CEO Jamie Dimon expressed his caution about the economic outlook, citing concerns over political tensions and trade-related volatility stemming from recent US trade tariffs.
Titan Company
Shares of Indian jeweller Titan Company rose as much as 5% on Tuesday to be the second-biggest gainer on the benchmark Nifty 50 index. This rise was due to the demand for premium jewellery and gold coins boosted its revenue. The company’s fourth quarter standalone revenue rose by approximately 25 percent, exceeding both the previous quarter and the same period last year.
Tata Consultancy Services (TCS)
India’s top software services exporter reported weaker than expected quarterly results on Thursday and warned that uncertainty around U.S. tariffs was prompting clients to rethink discretionary projects. The company reported its fourth-quarter earnings, revealing a 1.69% decline in net profit to ₹122.24 billion, falling short of analyst expectations.
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