Market hits the pause button after a two-day sprint; Nifty closes below 25,050

The benchmark equity indices closed with marginal losses today, ending a two-day winning streak, as investors booked profits following a sharp rally in the previous session. Market sentiment remained cautious ahead of key Q4 earnings announcements. Despite the subdued close, ongoing trade negotiations with the United States are expected to lend support to market sentiment, especially in the context of easing geopolitical tensions. The Nifty closed below the 25,050 level. Sector-wise, realty, media, and FMCG stocks found favour, while IT, metals, and pharma bore the brunt of the selling.

The S&P BSE Sensex declined 200.15 points or 0.24% to 82,330.59. The Nifty 50 index fell 42.30 points or 0.17% to 25,019.80.

Bharat Electronics (down 3.87%), Adani Enterprises (down 1.45%) and ITC (down 0.73%) were major drags.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.85% and the S&P BSE Small-Cap index added 1.18%.

The market breadth was strong. On the BSE, 2607 shares rose and 1380 shares fell. A total of 139 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.70% to 16.61.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 1.22% to 6.316, 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 85.5300, compared with its close of 85.5400 during the previous trading session.

MCX Gold futures for the 5 June 2025 settlement fell 0.44% to Rs 92,760.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 100.79.

The United States 10-year bond yield fell 1.14% to 4.404.

In the commodities market, Brent crude for June 2025 settlement added 3 cents or 0.05% to $64.56 a barrel.

Global Markets:

The US Dow Jones index futures were currently up by 158 points, signaling a positive opening for US stocks today.

European markets traded higher on Friday, while Asian stocks ended mixed as investors parsed Japan's latest gross domestic product figures.

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.

Stocks in Spotlight:

Bharti Airtel fell 2.81% after Singtel confirmed on Friday, 16 May 2025, that it sold a 1.2% stake in the Indian telecom major via block deals. With this transaction, Singtel has trimmed its stake in Bharti Airtel to 28.3% from 29.5% earlier.

Eureka Forbes surged 10% after the company's standalone profit after tax soared 137.5% year-on-year (YoY) to Rs 50.8 crore in Q4 FY25 from Rs 21.4 crore in Q4 FY24. Revenue from operations grew 10.8% YoY to Rs 612.5 crore in Q4 FY25. Continuing businesses grew marginally higher at 10.9% YoY.

Websol Energy System hit an upper limit of 5% after the company reported a standalone net profit of Rs 48.3 crore in Q4 March 2025 as against a net loss of Rs 58.6 crore in Q4 March 2024. Revenue from operations surged to Rs 173 crore in Q4 FY25, steeply higher than Rs 24.9 crore in Q4 FY24.

Godfrey Phillips India hit a lower circuit of 5% after the cigarette maker reported an 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.

Bharat Heavy Electricals (BHEL) rose 1.9% after the company's consolidated net profit jumped 3.02% to Rs 504.45 crore in Q4 FY25 as against Rs 489.62 crore posted in Q4 FY24. Revenue from operations grew by 8.87% year on year (YoY) to Rs 8,993.37 crore in the quarter ended 31 March 2025.

Jubilant Pharmova rallied 4.37% after the company reported net profit of Rs 153.60 crore in Q4 FY25 compared with net loss of Rs 58.60 crore in Q4 FY24. Revenue from operations increased 9.7% YoY to Rs 1,915.80 crore in Q4 FY25.

Neuland Laboratories declined 6.8% after the company's consolidated net profit tumbled 58.8% to Rs 27.81 crore on 14.7% fall in revenue from operations to Rs 328.36 crore in Q4 FY25 over Q4 FY24.

NOCIL tumbled 6.27% after the specialty chemical maker's consolidated net profit dropped 49.95% to Rs 20.79 crore on 4.71% decrease in net revenue from operations to Rs 339.69 crore in Q4 FY25 over Q4 FY24.

Dhanuka Agritech soared 11.08% after the company's consolidated net profit jumped 27.92% to Rs 75.50 crore in Q4 FY25 as against Rs 59.02 crore in Q4 FY24. Revenue from operations rose 20.01% YoY to Rs 442.02 crore in the quarter ended 31 March 2025.

JSW Energy added 3.44% 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.

NCC fell 1.13%. The company reported a consolidated net profit of Rs 253.82 crore in Q4 FY25, up 6.12% as against Rs 239.16 crore posted in Q4 FY24. However, 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.

G R Infraprojects jumped 5.62%. The company reported a 27.08% fall in consolidated net profit to Rs 403.90 crore in Q4 FY25 as against Rs 553.93 crore posted in Q4 FY24. Revenue from operations declined 8.43% YoY to Rs 2,275.57 crore in the quarter ended 31 March 2025.

Pricol tumbled 5.55% 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.

LT Foods added 2.15% after the company's consolidated net profit jumped 7% to Rs 161 crore in Q4 FY25, compared with Rs 150 crore in Q4 FY24. Total income increased 7.40% to Rs 2,228.36 crore in Q4 FY25, compared with Rs 2,074.81 crore in Q4 FY24.

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