Business
Opening bell: Markets trade flat; Sensex at 62,350.96, Nifty at 18,396.55

The markets on Tuesday opened flat with Sensex at 62,350.96, up by 5,25 points and Nifty down by 2.30 points at 18,396.55. Wipro, Infosys, Tata Steel, Power Grid and Nestle were the top gainers whereas ITC, Maruti, Mahindra and Mahindra, Kotak Bank and IndusInd Bank were the top losers.
The stocks of Airtel, Jindal Steel, Indian Oil, Granules and Bank of Baroda will be in focus as the companies are announcing the results for the last quarter today.
Markets on Monday
Buoyed by strong earnings, Sensex climbed 317 points to end the day at 62,345, while Nifty surged to 18,386 points in time for the closing bell. Tech Mahindra and Tata Motors led the pack of gainers, as with earnings of 75 firms scheduled for release on Monday.
Among laggards, Adani Enterprises lost the most, after firms form the group were dropped from the MSCI by Morgan Stanley. Real estate stocks along with media, IT, auto and FMCG were in the green, while pharma and energy failed to impress.
India’s trade deficit
India’s Trade deficit in April fell to $ 15.24 billion in comparison to $18.36 billion it reported last year, due to softening domestic demand and easing commodity prices. This is the lowest trade deficit in 21 months
Global markets
US stocks after slightly lower close on Friday, rose higher on Monday after benchmark Treasury yields saw a rise amid dim optimism that Washington will get past partisan wrangling and reach a debt ceiling deal. Dow Jones after declining for five straight sessions rose 47.98 points to 33,348.6, S&P 500 added 12.2 points to 4,136.28 and Nasdaq Composite gained 80.47 points to 12,365.21.
Asian markets trade higher on Tuesday morning with Singapore’s SGX Nifty up by 45 points at 18,448.50, Japan’s Nikkei 225 jumped 231.81 points at 29,858.15. Even Hong Kong’s Hang Seng saw a rise of 154.57 points to 20,125.70 and South Korea’s KOSPI was slightly higher at 2,487.59 with a gain of 8.24 points.
Oil prices
Oil prices on Tuesday were higher for the second day as US plans to purchase oil for the Strategic Petroleum Reserve. However, wildfires in Canada have added to the ongoing supply worries. Brent crude futures were up by 31 cents at $75.54 per barrel and US West Texas Intermediate Crude rose by 27 cents at $71.38 per barrel.
The government on May 15 has canceled windfall tax on crude petroleum to nil from the earlier 4,100 per tonne. The windfall tax on aviation turbine fuel, petrol and diesel was already at nil.
Rupee
Indian rupee on Tuesday opened slightly higher at 82.23 per dollar against Monday’s close of 82.30.
Business
Demand for homes priced Rs 1 crore and above boosts market in India: Report

Mumbai, April 24: The demand for homes prices Rs 1 crore and above bolstered the Indian property market in the first quarter this year, preventing overall sales of 65,250 units from hard landing, a report said on Thursday.
Residential sales in Q1 2025 (January-March) experienced only a modest decline and added up to 65,246 units. This limited drop was primarily due to robust demand in the Rs 3-5 crore and Rs 1.5-3.0 crore segments, which helped counterbalance the slowdown in relatively affordable housing, according to a JLL report.
The steady growth in higher ticket size homes indicates increasing affluence among homebuyers, changing lifestyle preferences and buyers prioritising larger and premium properties.
According to the report, housing sales in India’s top seven cities continued to be dominated by Bengaluru, Mumbai, and Pune, which collectively accounted for 66 per cent of Q1 sales.
High concentration of MNCs and startups creating significant employment opportunities and ongoing infrastructure improvements make these cities increasingly attractive places to live and work.
It is interesting to note that over the last few quarters a significant share of quarterly sales volume has been contributed by projects launched during the same quarter.
Q1 2025 was no exception, with around one-fourth of its sales being contributed by quarterly new launches. Launches by reputed developers with assurance of timely delivery and steady price appreciation, are driving the trend, the report informed.
“The residential real estate market is showing signs of a shift in buyer preferences with lowering of demand for less than Rs 1 crore housing and a growing affinity for mid to high-end properties. This as well suggests a potential upward movement in the overall market dynamics,” said Dr Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.
“This upswing in the higher-priced segment demand has shielded the overall housing sales from a sharper decline,” Das added.
Developers are focusing more on mid to high-end projects to align with current demand patterns. High-end housing sector experienced a steady upswing with 107 per cent year-on-year growth in launches of properties priced at Rs 1 crore and above, driven by strong sales in this segment.
Growth in launches despite economic uncertainties signals robust developer confidence in high-end housing demand, said the report, adding that 2025 is poised for robust growth in the residential sector demand.
Business
GreenLine flags off LNG truck fleet for Bekaert to drive sustainable logistics

Mumbai, April 24: GreenLine Mobility Solutions Ltd., an Essar venture and India’s only green logistics operator of LNG and electric-powered heavy commercial trucks, has partnered with Bekaert, a global leader in tire reinforcement technology, to decarbonise road logistics and support India’s vision of a gas-based economy.
The partnership was flagged off with the deployment of GreenLine’s LNG-powered trucks at Bekaert’s Ranjangaon Plant, marking the beginning of a pilot phase that aims to significantly reduce the carbon footprint of Bekaert’s logistics operations.
Each GreenLine LNG truck is expected to reduce up to 24 tonnes of CO₂ emissions annually, contributing to Bekaert’s ambition of becoming carbon net-zero by 2050 and achieving 65 per cent of sales from sustainable solutions.
Commenting on the partnership, Anand Mimani, CEO, GreenLine Mobility Solutions Ltd, said, “Our partnership with Bekaert demonstrates the growing commitment of forward-thinking corporates to drive sustainability at scale. At GreenLine, we are proud to offer not just green trucks, but an integrated ecosystem — from LNG refuelling to real-time telematics — that empowers our partners to make meaningful progress on their net-zero goals.”
Dinesh Mukhedkar, Procurement Operations Lead — South Asia and Procurement Global Shared Service Centre Lead, Bekaert, added, “As part of our purpose ‘Establishing the new possible,’ and our ambition to lead in safe, smart, and sustainable solutions, decarbonising logistics is an essential step. This directly supports our commitment to ESG principles and long-term sustainability goals.”
GreenLine’s expanding fleet of LNG-powered trucks has already clocked more than 40 million km, avoiding over 10,000 tonnes of CO₂ emissions. The company’s ongoing expansion includes plans to deploy over 10,000 LNG and EV trucks, supported by a nationwide network of 100 LNG refuelling stations, EV charging hubs, and battery swapping facilities — targeting a reduction of 1 million tonnes of carbon emissions annually.
Business
US tariffs pose major headwinds, need to diversify supply chains: BOK chief

Seoul, April 24: South Korea’s top central banker has said global trade tensions sparked by the United States’ sweeping tariff policy are a major headwind for the country’s export-driven economy, and the issue will likely accelerate its efforts to diversify supply chains.
Bank of Korea (BOK) Governor Rhee Chang-yong made the assessment during an interview with CNBC in Washington, where he is attending meetings of the Group of 20 (G20) finance ministers and central bank chiefs, as well as International Monetary Fund–World Bank Group (IMF-WBG) meetings, reports Yonhap news agency.
“We are an export-oriented economy. So the trade tension, definitely, too is large headwinds. We will be affected directly by the U.S. tariffs, and also indirectly to its tariff to other countries. For example, our semiconductor production in Vietnam, car and electronics production in Mexico and our battery production in Canada will be affected,” Rhee said.
“I really hope this trade tension will dissipate, because it’s bad for everybody,” he added.
But South Korea has “some strengths” to manage the issue, as the country has been “luckily” diversifying its supply chains, particularly from China, over the last several years amid growing competition from China and some political issues between the two nations.
“This is a kind of natural movement to diversify our supply chain and also move up to the value chain. So that will continue, but at the same time, the recent trade tension will probably expedite the move,” Rhee said.
Speaking of economic growth, Rhee said it is hard to present a growth outlook due to high uncertainties surrounding the U.S. tariff policy.
“At this moment, I don’t know what kind of trade tension scenarios we have to assume as a baseline or reference scenarios,” Rhee said. “I may have a better idea after tariff talks with the U.S. tomorrow.
South Korea and the U.S. are set to hold tariff talks in Washington on Thursday (U.S. time), as the Donald Trump administration has put on hold the implementation of 25 percent reciprocal tariffs on South Korean imports for 90 days.
South Korea’s real gross domestic product (GDP) contracted 0.2 percent in the January-March period from the previous quarter, according to the BOK’s preliminary data released in the day.
The BOK earlier expected the South Korean economy to expand 1.5 percent this year, but Rhee later said the outlook seemed “too optimistic” and the central bank will come up with its adjusted figure in May.
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