Sensex, Nifty slip over 1%; European mkt opens higher

The headline equity indices traded with significant losses in the afternoon trade, dragged down by profit booking and weakness in index heavyweights, despite easing tensions between the U.S. and China. PSU bank, pharma and media advanced while IT, FMCG and realty declined. The Nifty slipped below the 24,650 mark.

At 13:28 IST, the barometer index, the S&P BSE Sensex, tumbled 1,260.30 points or 1.54% to 81,159.55. The Nifty 50 index tanked 333.75 points or 1.34% to 24,593.80.

The broader market, the S&P BSE Mid-Cap index rose 0.26% and the S&P BSE Small-Cap index gained 0.76%.

The market breadth was strong. On the BSE, 2,427 shares rose and 1,414 shares fell. A total of 157 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.11% to 18.60.

Gainers & Losers:

Bharat Electronics (up 4.43%), Jio Financial Services (up 1.96%), Dr Reddy's Laboratories (up 1.42%), Cipla (up 1.13%) and Adani Ports and Special Economic Zone (up 0.89%) were the major Nifty50 gainers.

Infosys (down 3.25%), Power Grid Corporation of India (down 3.15%), HCL Technologies (down 2.78%), Bharti Airtel (down 2.44%) and Tata Consultancy Services (down 2.43%) were the major Nifty50 Losers.

Stocks in Spotlight:

Raymond slipped 2.24% after the company's consolidated net profit tumbled 40.17% to Rs 137.47 crore in Q4 FY25 as against Rs 229.79 crore posted in Q4 FY24. Total income soared 94.90% year on year (YoY) to Rs 601.4 crore in the quarter ended 31 March 2025.

Morepen Laboratories shed 0.93%. The company reported a 29.33% decline in consolidated net profit to Rs 20.31 crore in Q4 FY25, compared with Rs 28.74 crore in Q4 FY24. However, revenue from operations jumped 10.11% year on year to Rs 465.85 crore in Q4 FY25.

DCX Systems added 3% after the company announced that it had bagged export orders worth Rs 28.60 crore from various clients. The company has received an order worth Rs 13.60 crore for the manufacture and supply of CIWS antennas from Israel-based ELTA Systems.

Power Mech Projects soared 1.60% after the firm said that it has secured an order worth Rs 971.98 crore from Telangana Power Generation Corporation (TSGENCO) for the 5x800 MW Yermarus Thermal Power Station (YTPS) project.

Aarti Surfactants hit an upper circuit of 10% after the company's consolidated net profit zoomed 109.03% to Rs 9.72 crore in Q4 FY25 as against Rs 4.65 crore posted in Q4 FY24. Revenue from operations surged 27.43% year on year to Rs 202.05 crore in the quarter ended 31 March 2025.

Dynamic Cables hit an upper circuit limit of 20% after the company's net profit rose 71.09% to Rs 23.56 crore on 37.41% increase in net sales to Rs 331.17 crore in Q4 March 2025 over Q4 March 2024.

Lupin gained 1.41% after the company announced the launch of Tolvaptan Tablets in the U.S. market, with 180-day exclusivity under the first-to-file status.

Global Markets:

European stock markets opened higher while Asian stocks advanced on Tuesday, following a massive rally on Wall Street after the U.S. and China agreed to a trade deal, which includes a 90-day pause on new tariffs and a reduction in reciprocal tariffs by 115 percentage points.

In the U.S., major indices posted significant gains. The Dow Jones Industrial Average rose 2.81%, the S&P 500 advanced 3.26%, and the Nasdaq Composite gained 4.35%, with technology stocks ' particularly those with exposure to China, such as Apple and Tesla ' leading the way.

The surge in investor confidence followed a joint announcement on Monday that the U.S. and China had agreed to mutually reduce tariffs on each other's goods for an initial 90-day period. Under the agreement, the U.S. will reduce its tariffs on Chinese imports from 145% to 30%, while China will lower its retaliatory tariffs from 125% to 10%. China also committed to easing certain non-tariff measures, including restrictions on rare earth exports.

The agreement was the result of intensive negotiations held over the weekend in Geneva, where both sides reported substantial progress. A joint statement emphasized the importance of developing a sustainable, long-term, and mutually beneficial economic and trade relationship.

This development marks a significant de-escalation in the prolonged trade conflict that began with the imposition of sweeping tariffs by the United States. The trade tensions had previously disrupted global supply chains, heightened market volatility, and raised concerns over a potential global recession.

However, despite the positive momentum, investor focus is now shifting toward upcoming U.S. inflation data, with the Consumer Price Index (CPI) report due later Tuesday.

Powered by Capital Market - Live News