Barometers trade with small losses; Nifty below 25,050; India VIX slides 2.47%

The key equity indices traded with minor losses in the afternoon trade amid limited profit booking, following a sharp rally in the previous session. Investors are awaiting Q4 earnings reports from various companies. Realty, FMCG and oil & gas shares advanced while IT, metal and pharma shares declined. The Nifty traded below the 25,050 mark.

At 13:28 IST, the barometer index, the S&P BSE Sensex, declined 155.01 points or 0.19% to 82,373.01. The Nifty 50 index shed 36.80 points or 0.12% to 25,033.05.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.81% and the S&P BSE Small-Cap index added 1.01%.

The market breadth was strong. On the BSE, 2,428 shares rose and 1,382 shares fell. A total of 178 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 2.47% to 16.48.

Gainers & Losers:

Bharat Electronics (up 4.21%), Adani Enterprises (up 1.50%), Tata Consumer Products (up 1.46%), Bajaj Auto (up 1.04%) and Hindustan Unilever (up 0.93%) were the major Nifty50 gainers.

Bharti Airtel (down 2.81%), Indusind Bank (down 2.07%), HCL Technologies (down 2.00%), Shriram Finance (down 1.90%) and Infosys (down 1.51%) were the major Nifty50 Losers.

IndusInd Bank fell 2.07% after the bank disclosed an accounting discrepancy worth Rs 674 crore in its microfinance (MFI) business.

In a statement issued following a media report, the bank clarified that its Internal Audit Department (IAD) had reviewed the MFI operations and discovered that Rs 674 crore had been erroneously booked as interest income across three quarters in FY24'25. Crucially, the bank noted that the full amount was reversed by 10 January 2025.

Stocks in Spotlight:

NCC declined 2.98%. The company reported consolidated net profit of Rs 253.82 crore in Q4 FY25, up 6.12% as against Rs 239.16 crore posted in Q4 FY24. Revenue from operations tumbled 5.45% to Rs 6,130.88 crore in Q4 FY25 as against Rs 6,484.88 crore posted in Q4 FY24.

Pricol tumbled 5.68% after the company's consolidated net profit fell 15.80% to Rs 34.94 crore in Q4 FY25 as against Rs 41.50 crore posted in Q4 FY24. However, revenue from operations increased 32.81% YoY to Rs 725.01 crore in Q4 FY25.

ZF Commercial Vehicle Control Systems India declined 3.03%. The company reported a consolidated net profit of Rs 126.72 crore in Q4 FY25, up 26.46% from Rs 100.20 crore in Q4 FY24. The company's revenue from operations jumped 5.55% YoY to Rs 1,011.9 crore in Q4 FY25.

JSW Energy added 3.07% after the company's consolidated net profit jumped 16.1% to Rs 408.05 crore on 15.7% increase in revenue from operations to Rs 3,189.39 crore in Q4 FY25 oer Q4 FY24.

Godfrey Phillips India was locked in lower circuit of 5% after the cigarette maker reported 11.57% fall in consolidated net profit to Rs 279.29 crore in Q4 FY25 as against Rs 315.85 crore posted in Q3 FY25. Revenue from operations (excluding excise duty) declined 1.09% quarter-on-quarter (QoQ) to Rs 1,565.82 crore in the quarter ended 31 March 2025.

Abbott India gained 1.20% after the company's standalone net profit climbed 27.9% to Rs 367.04 crore on 11.5% increase in revenue from operations to Rs 1,604.59 crore in Q4 FY25 over Q4 FY24.

LIC Housing Finance fell 1.42%. The company has reported 25% increase in net profit to Rs 1367.96 crore on a 5% rise in revenue from operations to Rs 7283.33 crore in Q4 FY25 as compared with Q4 FY24.

Bikaji Foods International slipped 1.46%. The company's consolidated net profit fell 65.66% to Rs 39.92 crore in Q4 FY25 as against Rs 116.28 crore posted in Q4 FY24. Total revenue from operations grew by 14.60% year on year (YoY) to Rs 596.91 crore in the quarter ended 31 March 2025.

Global Markets:

European markets opened higher on Friday as investors awaited earnings updates from Richemont, Land Securities, Swiss Re, and Thales.

Asian stocks traded mixed as investors parsed Japan's latest gross domestic product figures and awaited a slate of other economic data from the region.

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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