The first day of the financial year 2025 started with a positive note. The 30-share BSE Sensex climbed 405.60 points to 74,056.95 in early trade. The NSE Nifty gained 144.75 points to 22,471.65.
However, analysts expect the market to move in a narrow range ahead of RBI policy, Q4 results, and India Inc.’s FY25 outlook. They feel the general election will likely dampen trading interest in the coming days.
FY24 marked a rewarding period for the Indian market. Large caps recorded a substantial 33 per cent return, mid-caps surged by 56 per cent, and small caps excelled with an impressive 63 per cent.
Pravesh Gour, Senior Technical Analyst, Swastika Investmart, said: the RBI Monetary Policy Committee (MPC) is set to start its 3-day meeting deliberating interest rates and analysing the state of the economy on April 3 and will end on April 5.
“Reports suggest that the RBI is likely to keep interest rates unchanged at this meeting. Auto stocks will also be in focus as auto companies will announce the monthly sales numbers for March starting from April 1, 2024. Additionally, people will be watching how the rupee fares against the dollar and keeping tabs on crude oil prices. They’ll also be keeping an eye on investments made by foreign institutional investors (FIIs) and domestic institutional investors (DIIs).”
Meanwhile, Asia-Pacific stocks are mixed, and most have closed. Japan stocks are down, while Chinese, Singapore, and Taiwan stocks are up in early trade. Read more:
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