The Indian equity markets made a powerful recovery on April 8, 2025, following a steep sell-off on what was dubbed Black Monday. The Nifty 50 closed at 22,500, up 1.69%, and the BSE Sensex surged 1.49% to end at 74,227.08, regaining investor confidence across all major indices. The recovery was broad-based, with realty, financials, FMCG, and consumer durables leading the charge, while even the broader indices gained more than 2%.

Titan Surges After Strong Q4 Business Update

Titan Company’s shares soared 6.5%, becoming one of the top performers of the day. The rally followed its March quarter business update, which revealed a 25% year-on-year revenue growth across all business verticals, including jewellery, watches, and eyewear.

Despite a 7% decline in the stock's value so far this year, the strong quarterly update renewed investor confidence, indicating robust demand and effective business strategies heading into the new financial year.

HPCL Gains as Government Hikes Fuel Prices

Hindustan Petroleum Corporation Ltd (HPCL) was another standout performer, gaining over 4%. The rise came after the government increased LPG prices and excise duties on petrol and diesel. According to market sources, this move is expected to help offset current operational losses incurred by oil marketing companies (OMCs), including HPCL. This policy shift boosted the entire OMC pack, reinforcing investor sentiment in the sector.

Delhivery Dips Despite Broker Buy Ratings

On the other hand, Delhivery stock slipped 7.25% even after Emkay and JM Financial issued buy ratings with target prices of Rs 380 and Rs 400, respectively. The drop comes despite resilience during Monday’s crash and indicates some degree of investor caution or profit-booking. The logistics company’s near-term challenges are seen in operating margins, but brokerages remain bullish on long-term prospects.

IGL Falls on CNG Auto Phase-Out Proposal

Indraprastha Gas Ltd (IGL) saw its shares drop 5% after the Delhi government proposed a phase-out of CNG-powered autorickshaws by August 15, 2026. The policy, aimed at transitioning to cleaner electric mobility, triggered worries about a sharp decline in demand for CNG fuel, which is IGL’s core revenue generator.

This development adds to the uncertainty around urban mobility fuel dynamics and its potential impact on gas distribution companies.

Mahindra & Mahindra Incorporates New Subsidiary

Shares of Mahindra and Mahindra (M&M) rose over 2% to Rs 2,548 after the company announced the incorporation of a new wholly-owned subsidiary, MATL. M&M subscribed to 50 lakh equity shares at par, gaining full 100% ownership of the entity. This move is part of M&M’s ongoing efforts to restructure and expand its operational base, particularly in the automobile and agri-tech sectors.

Jana Small Finance Bank Rallies on Positive Outlook

Jana Small Finance Bank gained 9%, following a bullish outlook by Nuvama. The brokerage sees strong upside potential driven by improved cost efficiency and better collection performance starting FY26. Although opex pressures are expected to remain high in FY25 due to enhanced collection efforts, the long-term operating leverage is expected to improve, providing room for margin expansion.

Shriram Finance Jumps on Rate Cut Hopes

Shriram Finance was among the top gainers in the BFSI pack, rising nearly 6% amid expectations that the RBI may cut interest rates during its ongoing three-day monetary policy meeting. The repo rate currently stands at 6.25%, and markets are anticipating a 25 basis points cut, which would benefit NBFCs and banks in terms of cost of capital and borrowing rates.

EMS Stocks Rally on Margin Expansion Hopes

EMS (Electronics Manufacturing Services) stocks surged 9%, supported by rising expectations of higher order volumes and margin improvements. PG Electroplast led the gains in the Nifty Consumer Durables index, soaring 8.81%.

The momentum in EMS counters was further boosted by reports suggesting Apple may be exploring options to reduce its dependence on Chinese manufacturing, driven by increasing U.S. tariffs, and potentially increasing orders from Indian EMS firms.

Sectoral and Broader Market Recovery

All sectoral indices on the NSE ended in the green. The Nifty Realty, FMCG, and Financial Services indices were the top gainers, each rising over 2%.

The Nifty Smallcap 100 and Nifty Midcap 100 indices outperformed, both rallying over 2%, indicating strong participation from retail and institutional investors in the recovery. This broad-based rebound suggests renewed optimism in Indian equities after Monday’s dip.

What Lies Ahead

Investor attention now turns to the RBI’s monetary policy decision, due on April 9. A repo rate cut would further fuel bullish sentiment, particularly in financials, housing, and auto sectors.

Moreover, Q4 earnings season will start soon, and expectations are high from sectors like consumer durables, banking, and auto, which have shown steady business traction even amid macroeconomic uncertainties.

In summary, today’s market rally reflects a relief-driven bounce-back from oversold levels, supported by positive sectoral triggers, government policy moves, and favourable brokerage views on select counters.

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