India Indexes Extend Gains Despite Weak Bank Earnings, Crude Oil Drops to 4-Year Low

Arjun Pandit
05 May, 2025
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Stock market indexes in India advanced in Monday's trading as investors reviewed the fresh batch of earnings, and crude oil prices eased. 

The Sensex and Nifty indexes advanced as investors increased exposures to recently beaten-down stocks. 

Market sentiment improved after the international price of crude oil dropped to a four-year low of $56.45 a barrel after OPEC+ announced it would increase production after a meeting on Saturday. 

Saudi Arabia, the leader of the OPEC+, decided to flood the market by as much as 2 million barrels over the six months to November and influence other members to curtail their excess production. 

Investors also took note of a possible thawing of trade tensions between the U.S. and China after Beijing showed a willingness to discuss tariffs and trade frameworks. 

Over the weekend, Singapore's long-ruling party, PAP, won another landslide victory in the general election held over the weekend, giving a boost to the new prime minister, Lawrence Wong. 

In Australia, the Labor Party, headed by Prime Minister Anthony Albanese, increased its tally of members in the lower house of the parliament after the federal election on Sunday. 

 

India Indexes and Stocks 

Avenue Supermarts decreased 2.6% to ₹3,954.70, and the parent company of D Mart reported a 2% decline in profit in the March quarter.

Kotak Mahindra declined 5.5% to ₹2,070.50, and the financial services provider reported that revenue increased 17% and profit declined 14% in the March quarter.

State Bank of India decreased 1.4% to ₹2,070.50, and the financial services provider reported a profit in the March quarter declined 10% to ₹18,643 crore.

Marico Ltd. advanced 3.5% to ₹718.0, and the consumer products maker said March quarter profit rose 8%.  

Tata Motors increased 1% to ₹661.70, and the company's board approved the sale of ₹500 crore non-convertible bonds.