📈 ₹18.4 Lakh Crore Rally — In A Day

🌞 Good morning, midweek hustlers!

Markets are roaring back, valuations are in flux, and India just pulled off a rally that made global investors sit up straighter than a tax auditor at year-end. Meanwhile, Swiggy’s snack runs might now beat your food delivery ETA.

From IPO prep and tech drama to gold rushes and electric chaos, we’ve brewed the boldest headlines for your cup today.

So sip slowly — this Wednesday edition is full-bodied and extra spicy. ☕

☕ Chai Shots

• 📈 Markets bounce back in beast mode: Indian stock markets staged a dramatic rally with Sensex shooting up over 1,500 points and Nifty reclaiming 23,300. Over ₹18.4 lakh crore in investor wealth was added in just two days, riding high on Trump’s tariff pause and a global rebound. More in the Big Brew below. ☕

• 🧮 IndusInd Bank’s ₹1,979 Cr math blunder: A misreporting in its derivatives exposure could lead to a major hit on profits. The RBI has stepped in, and a forensic audit is underway to uncover the extent of the error.

• 🟡 Gold breaks records as safe haven demand surges: Investors flocked to gold amid global uncertainty, pushing prices to an all-time high of ₹96,450 per 10g. Silver wasn’t left behind either, jumping ₹2,500/kg.

• 🚗 BluSmart in hot water over Gensol mess: The EV cab platform is being examined by SEBI after its co-founders were named in a probe involving misuse of EV financing tied to Gensol Engineering.

• 🌾 Inflation cools down, rate cut chatter heats up: India’s retail inflation dropped to 3.34% in March — the lowest in nearly six years — thanks to falling prices in vegetables, eggs, and pulses. With CPI now well below RBI’s 4% target, expectations for another rate cut just got spicier.

📉 Market Masala

• 💥 Market liftoff smashes April blues: Sensex closed up 1,577 points at 76,734 while Nifty surged past the 23,300 mark, riding a perfect storm of tariff pauses, rate cut hopes, and global optimism.

• 🌍 5 power plays behind the pop:

  • 📵 Trump’s tariff timeout on electronics sparked tech stock rebounds

  • 🇮🇳 Global funds shifted focus to India as a trade-safe growth story

  • 🚙 Auto stocks rallied on hopes of tariff easing for foreign car parts

  • 🏦 Banking majors led gains with better margin outlook post HDFC rate cuts

  • 🌏 World markets cheered — from Wall Street to Nikkei to FTSE

• 💸 CRED mulls fundraise at ₹2.5K Cr markdown: Kunal Shah’s fintech giant is reportedly seeking $100–200M at a $4B valuation, nearly 40% below its 2022 peak. Profitability focus drives the recalibration.

• 🤝 Goldman Sachs takes over PeopleStrong: In a major PE move, Goldman Sachs Alternatives acquired a majority stake in HR tech firm PeopleStrong, valuing it at ₹1,300 crore. The Gurugram-based SaaS company offers AI-powered HR solutions and aims to expand its user base from 2 million to 10 million globally. This marks one of the largest SaaS exits in India’s HR space.

• 📦 Apple’s $2B iPhone airlift from India: As Trump’s tariffs loomed, Apple’s Indian suppliers Foxconn and Tata Electronics shipped a record $1.9B worth of iPhones to the U.S. in March. It was a logistical masterclass — over six cargo jets flew out of Chennai, helping Apple avoid fresh duties and putting India in the global spotlight as a key electronics export hub.

🌎 Global Masala

• 📉 Nvidia-led tech slide drags U.S. futures down: S&P 500 futures dipped 0.2%, and Dow shed 0.4% as Nvidia announced a $5.5B charge linked to China chip export restrictions. The sharp drop followed muted Wall Street sessions and signals more turbulence ahead. Traders are now focused on March retail sales data, earnings from Abbott and ASML, and ripple effects from the ongoing U.S.-China standoff.

• 🏢 European markets in rally mode: Stoxx 600 climbed 1.6%, led by gains in auto and property sectors as Trump’s tariff pause brought temporary global relief.

• 🛫 China cancels Boeing buys amid trade war: In retaliation to the US’s tariff blitz, Beijing told airlines to halt all new Boeing jet deliveries. European rival Airbus and domestic giant COMAC stand to gain.

🍵 The Big Brew: Tariff Timeout Triggers Market Comeback

Call it the great April reset. After Trump rattled markets with his tariff tantrum, a surprising pause on electronics duties has flipped sentiment. India, with its solid domestic story, swooped in as the new darling of global investors.

Here’s what brewed this explosive rally:

• ⏸️ Electronics escape Trump’s wrath: Tariff relief for smartphones, laptops, and chips sparked a tech rally — Indian players like Dixon and Kaynes gained big.

• 🌍 India rides the ‘China-plus-one’ wave: Amid trade chaos, investors bet on India’s rising role in global manufacturing.

• 🚗 Autos find open roads: Tata Motors and component makers surged after Trump hinted at easing 25% duties on imported cars.

• 🏦 Banks fuel domestic momentum: With interest rates cooling and HDFC slashing savings account returns, investors poured into private banks.

• 📈 Global markets added the spark: Wall Street’s tech-heavy Nasdaq rose, Asian bourses followed, and Europe closed strong — all aligning to lift India’s tide.

What does this mean?

This isn’t the end of the trade war — just a halftime breather. But for now, India’s consistent inflation control, strong earnings base, and diplomatic tariff strategy give it a golden moment. Keep your eyes on upcoming earnings and any twist from Washington or Beijing.

🌟 Startup Scoop

• 🧀 Milky Mist lays the groundwork for IPO: Ahead of a ₹2,000 Cr listing, the dairy giant added independent directors to meet SEBI norms. The brand processes 1.5 million litres of milk daily — paneer, curd, and now paperwork.

• 🍦 NOTO scoops up ₹15 Cr: The guilt-free dessert brand raised fresh funds to expand to new cities and whip up innovative flavours. Already backed by John Abraham and Titan Capital, the low-sugar label is scaling fast.

• 🌍 Uniqus aims for $20M Series C: With a focus on ESG and regulatory compliance consulting, this global professional services firm wants to double its valuation and expand to Canada, Singapore, and the Middle East.

• 🦷 Cura Care raises ₹5 Cr for home dental services: Offering professional teeth whitening, scaling, and polishing at your doorstep, the startup wants to redefine oral hygiene in Indian households.

• 🔌 Plugzmart powers up EV ecosystem: The IIT-Madras-incubated startup became India’s first to get ARAI certification for locally developed EV charger controllers and PLC modules — a win for Make in India.

• 🏦 Findi snaps up BANKIT for AU$30M: This acquisition adds over 1.8 lakh merchants and deepens Findi’s ambition to become a full-stack digital payments bank serving rural India.

• 🍽️ Swiggy SNACC lands in NCR: After a Bangalore beta, Swiggy's 15-minute snack delivery app is now live in Noida and Gurugram — promising quick bites before you finish that Zoom call.

🤔 Chai Break Trivia

🥭 Did you know India is the world’s top mango producer?
We grow over 20 million tonnes every year — from Alphonso to Kesar — making us the juicy heartbeat of global mango mania. 🥭

☕ What’s Brewing Next?

• 📉 With March CPI dropping to 3.34%, the RBI could finally shift from neutral to rate-cut mode.

That’s your full pour for Wednesday! Markets are feeling perky, but don’t toss your umbrella yet — tariff storms could roll back in. Catch you tomorrow for another spicy sip.