Indices edge lower in early trade; breadth strong

The key equity benchmarks traded with minor cuts in early trade. The Nifty traded a tad below the 25,050 mark. IT, pharma, and private bank stocks declined, while consumer durables, realty, and PSU bank shares advanced.

At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 245.07 points or 0.30% to 82,285.67. The Nifty 50 index fell 14.70 points or 0.06% to 25,048.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index added 0.82%.

The market breadth was strong. On the BSE, 2,107 shares rose and 794 shares fell. A total of 143 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth 5,392.94 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 1,668.47 crore in the Indian equity market on 15 May 2025, provisional data showed.

Stocks in Spotlight:

LT Foods rose 4.09% after the company's consolidated net profit jumped 7.91% to Rs 160.51 crore on a 7.4% increase in revenue from operations to Rs 2,228.36 crore in Q4 FY25 over Q4 FY24.

JSW Energy added 1.09% after the company reported a 16.14% jump in consolidated net profit to Rs 408.05 crore on a 15.73% increase in revenue from operations to Rs 3189.39 crore in Q4 FY25 over Q4 FY24.

Godrej Industries rallied 2.27% after the company reported a consolidated net profit of Rs 183.08 crore during the quarter as compared with a net loss of Rs 311.81 crore in the corresponding quarter last year. Revenue from operations jumped 26.55% YoY to Rs 5,779.69 crore in Q4 FY25.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 1.23% to 6.317 compared with the previous close of 6.240.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4025, compared with its close of 85.5400 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement shed 0.40% to Rs 92,808.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.14% to 100.67.

The United States 10-year bond yield rose 0.70% to 4.424.

In the commodities market, Brent crude for July 2025 settlement rose 10 cents, or 0.15% to $64.63 a barrel.

Global Markets:

Asian stocks traded mixed on Friday as investors kept one eye on U.S.-China trade headlines and the other on a surprise economic stumble from Japan.

Japan's economy hit an unexpected speed bump in Q1 2025. GDP shrank 0.7% year-on-year, a sharp U-turn from the previous quarter's 2.4% growth. On a quarterly basis, the economy contracted 0.2%.

Thursday saw a mixed bag in U.S. markets. The S&P 500 climbed 0.4%, and the Dow Jones added 0.7%, but the NASDAQ slipped 0.2%, dragged down by tech stocks catching their breath after a strong rally. However, soft producer inflation and retail sales data sparked bets that the Fed will have to cut interest rates further this year.

April's producer price index (PPI) showed a 0.5% dip'its first monthly fall since 2023'signaling a cooling inflation trend. March's PPI, previously reported as down 0.4%, was quietly revised to flat. Meanwhile, retail sales in April rose just 0.1%, a slowdown from March's revised 1.7% boost.

Vistra Energy surged nearly 4% after unveiling a $1.9 billion deal to acquire natural gas assets.

Take-Two Interactive lost 2.5% after delaying Grand Theft Auto VI and issuing soft guidance.

Applied Materials dropped 5.4% despite strong earnings. Revenue and guidance were underwhelming.

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