India’s equity market has shown its resilience despite global uncertainties, and is well-positioned in a world reshaped by trade and tariffs, a report said on Friday.

The BSE 500 recorded a 6.25 per cent gain in March — its best monthly performance in 15 months, indicating that much of the market excess has likely been corrected.

India’s macro fundamentals are notably resilient. GDP growth is projected at 6.5 per cent in FY25, supported by strong domestic consumption, capex, and manufacturing upcycle, according to the report by PL Asset Management, the asset management arm of PL Capital Group (Prabhudas Lilladher).

Indian stock market saw a sharp decline on Friday within hours of opening of trade, as uncertainty over geopolitical tensions continues to spook the investors.

Domestic benchmark indices opened flat to positive in morning trade but turned red during intra-day trade. Sensex and Nifty fell by more than 1 per cent as uncertainty over India-Pakistan relations affected investors' sentiment.

At around 11:55 am, Sensex was trading 1,132.1 points or 1.42 per cent down at 78,669.26 while the Nifty declined 374.40 points or 1.54 per cent at 23,872.30.

Among the 30-share Sensex pack, Only Infosys, TCS, IndusInd Bank and Tech Mahindra were the top gainers. Axis Bank, Bajaj Finserv, PowerGrid, Bajaj Finance and Eternal were the top losers.

Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Friday highlighted that in the last 10 years, the number of CNG stations providing green fuel for vehicles in the country has surged more than 20 times, while the number of households using piped cooking gas has recorded a 5-fold increase and LPG connections more than doubled.

This reflects not only an improvement in the lifestyle of the people but also an acceleration in the journey of 'Healthy India with Clean Fuel'.

“Under the guidance of Prime Minister Narendra Modi, in the last 10 years, CNG stations have increased by 2,300 per cent, PNG connections have increased by 467 per cent, LPG connections have increased by 128 per cent,” the minister posted on X.

India’s passenger vehicle (PV) industry is set to scale a fresh high this fiscal with domestic and export volume cumulatively crossing 5 million units even as the annual growth rate slows to 2-4 per cent, a report showed on Friday.

A Crisil Ratings report said that this marks the fourth consecutive year of record sales, although momentum has significantly eased from the 25 per cent surge in fiscal 2023 after the pandemic.

According to the report, utility vehicles (UVs) will drive volume growth this fiscal, aided by new launches, easing interest rates, rising compressed natural gas (CNG) adoption and rural tailwinds.

“PV growth will moderate to 2-4 per cent this fiscal, but UVs will continue to cruise with 10 per cent growth, supported by new launches. With UVs contributing 68-70 per cent of volumes and bulk of upcoming models, the shift toward premiumisation is structural,” said Anuj Sethi, Senior Director, Crisil Ratings.

The households in India remain well positioned to support 6.5 per cent growth over the next 3-5 years, a Morgan Stanley report said on Friday.

Current household debt level in India is manageable and household debt (core) remains at levels lower than other economies, the report emphasised, adding that even as it rises, it expects the trend to be manageable driven by income growth.

The recent rise in retail loans has led to concerns on rising indebtedness at the household level. This has led to the narrative of higher household leverage, lower net financial saving, and patchy income growth, increasing distress in the household balance sheet.

According to the report, the rise in retail loans has been the key driver of credit growth post the pandemic, leading to concerns of over-leverage.

The three-day ‘India Steel 2025’ has brought together various stakeholders to discuss the potential, challenges and opportunities in the Indian steel sector and the road-map to capitalise the international market, the Ministry of Steel said on Friday.

The inaugural session was addressed by Prime Minister Narendra Modi on Thursday through a video message, where he emphasised India’s strategic vision to enhance domestic steel production, reduce carbon emissions, and promote 'Make in India'.

During the day, several important sessions were organised, according to the ministry.

At the session on ‘Viksit Bharat: Role of Steel Sector in Indian Economy’, a high-level panel comprising senior policymakers, economists, and industry leaders delved into the critical role of steel in realising India’s $5 trillion economy vision.

The Indian equity benchmark indices opened higher on Friday amid positive global cues, as buying was seen in the IT, pharma and auto sectors in the early trade.

At around 9.27 am, Sensex was trading 265.3 points or 0.33 per cent up at 80,066.81 while the Nifty added 89.85 points or 0.37 per cent at 24,336.55.

Nifty Bank was down 222.85 points or 0.40 per cent at 54,978.55. The Nifty Midcap 100 index was trading at 54,980.80 after increasing 10.95 points or 0.02 per cent. Nifty Smallcap 100 index was at 16,903.30 after declining 60.20 points or 0.35 per cent.

According to market watchers, "after a positive opening, Nifty can find support at 24,200 followed by 24,100 and 24,000. On the higher side, 24,500 can be an immediate resistance, followed by 24,600 and 24,700.

Leading cement and building materials company ACC Limited on Thursday reported highest-ever annual profit after tax (PAT) at Rs 2,402 crore in FY25, up by 3 per cent.

ACC, part of the diversified Adani Portfolio, also clocked highest-ever revenue in a quarter at Rs 6,067 crore (Q4 FY25), driven by higher trade sales volume and premium product as percentage point (pp) of trade sales at 41 per cent (up by 7 pp YoY), thus ensuring market leadership.

On an annual basis, the company reported highest-ever volume which was up by 14 per cent at 42.2 million tonnes.

“As we conclude this financial year, ACC stands stronger, more agile and future-ready. This year has been marked by strategic milestone that reinforce our position as a leader in the Indian cement industry,” said Vinod Bahety, Whole Time Director and CEO, ACC.

The Indian stock market ended lower on Thursday, as investors booked profits after a strong seven-day bull rally.

Sentiments were also hit by the Pahalgam terror attack, along with the expiry of the April derivatives contracts on the National Stock Exchange (NSE).

The Sensex opened slightly lower at 80,058 and briefly touched a high of 80,174 in early trade. However, selling pressure dragged the index down through the day.

It fell to an intra-day low of 79,725 before settling at 79,801, down 315 points. With this, the Sensex snapped its seven-day winning streak, during which it had jumped 6,269 points.

The Nifty also saw a similar trend. It traded within a narrow range of 131 points, moving between a high of 24,348 and a low of 24,216.

India’s ethanol revolution is proving to be a game-changer, not only boosting farmers’ income and creating jobs but also saving the country billions in foreign exchange and reducing carbon footprint, Union Petroleum and Natural Gas Minister, Hardeep Singh Puri, said on Thursday.

According to the Union Minister, India’s ethanol drive has so far added Rs 1,07,580 crore to farmers’ earnings while saving Rs 1,26,210 crore in foreign exchange by curbing crude oil imports.

The Union Minister further highlighted that the government’s ethanol initiative aligns with Prime Minister Narendra Modi’s vision of turning ‘annadatas’ (food providers) into ‘urjadatas’ (energy providers).

“This initiative not only increases farmers’ income and creates jobs, but also helps save foreign exchange and is a boon for the environment,” Puri wrote on social media platform X.

As part of this green transformation, a bamboo-based, bio-ethanol refinery in Assam is now nearing completion and is set to significantly benefit the northeastern region.