Indices trade with minor cuts; broader mrkt outperforms

The key equity indices traded with small losses in afternoon trade, as investor sentiment remained weak after Moody's downgraded the US credit outlook and mixed economic signals from China. The Nifty traded below the 25,050 mark after hitting the day's high of 25,062.95 in the morning trade.

IT, media and FMCG shared declined while realty, PSU bank and pharma stocks advanced.

At 13:25 IST, the barometer index, the S&P BSE Sensex, shed 96.86 points or 0.12% to 82,233.74. The Nifty 50 index fell 16.45 points or 0.07% to 25,003.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.59% and the S&P BSE Small-Cap index jumped 0.96%.

The market breadth was strong. On the BSE, 2,619 shares rose and 1,375 shares fell. A total of 195 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.50% to 17.13

Gainers & Losers:

Bajaj Auto (up 3.94%), Shriram Finance (up 1.37%), Eicher Motors (up 1.33%), Hero MotoCorp (up 1.23%) and Bajaj Finance (up 0.89%) were the major Nifty50 gainers.

ETERNAL (down 1.97%), Tata Consumer Products (down 1.53%), Infosys (down 1.53%), Tata Consultancy Services (down 1.10%) and Dr. Reddy's Laboratories (down 1.02%) were the major Nifty50 Losers.

Stocks in Spotlight:

Divis Laboratories rallied 6.59% after the pharma major's consolidated net profit jumped 23.04% to Rs 662 crore in Q4 FY25 as against Rs 538 crore recorded in Q4 FY24. Revenue from operations grew by 12.24% year on year (YoY) to Rs 2,585 crore in the quarter ended 31 March 2025.

Banco Products (India) hit an upper circuit of 20% after the company's consolidated net profit soared 125.20% to Rs 153.50 crore in Q4 FY25 as against Rs 68.16 crore posted in Q4 FY24. The company's revenue from operations jumped 21.04% YoY to Rs 868.40 crore in the quarter ended 31 March 2025.

Heritage Foods tumbled 4.11% after its consolidated net profit slipped 5.74% to Rs 38.16 crore in Q4 FY25 as against Rs 40.49 crore in Q4 FY24. However, revenue from operations jumped 10.30% year on year to Rs 1,048.5 crore in Q4 FY25.

Bharat Bijlee tanked 10.03%. The company reported a standalone net profit of Rs 50.31 crore in Q4 FY25, up 3.66% as against Rs 48.53 crore in Q4 FY24. Revenue from operations jumped 5.38% year on year to Rs 619.10 crore in the fourth quarter of FY25.

Data Patterns (India) added 1.50% after the company's standalone net profit surged 60.45% to Rs 114.08 crore in Q4 FY25 as against Rs 71.10 crore posted in Q4 FY24. The company's revenue from operations zoomed 117.35% YoY to Rs 396.21 crore in the quarter ended 31 March 2025.

Global Markets:

Dow Jones futures were down 346 points on Monday, indicating a weak opening for U.S. equities. The decline followed Moody's decision to downgrade the U.S. sovereign credit rating from AAA to AA1 on Friday, citing concerns over the country's rising debt burden, which currently stands at approximately $36 trillion. The ratings agency also noted that proposed tax cuts by President Donald Trump could further strain fiscal conditions.

The downgrade was met with criticism from the Trump administration, which pointed to initiatives aimed at reducing government spending. Among them is the Department of Government Efficiency, led by Elon Musk. However, progress on these initiatives has been limited so far.

European shares fell on Monday as investors turned their attention to several key geopolitical developments impacting the region. First, there's the much-anticipated U.K.-EU summit taking place in London on Monday. Later, U.S. President Donald Trump will be holding a call with Russia's President Vladimir Putin

Most Asian stocks traded lower, influenced by the U.S. credit downgrade and mixed economic data from China. The momentum from last week's rally, driven by easing tensions in the U.S.-China tariff dispute, faded toward the end of the week.

Recent data from China showed: Industrial production increased by 6.1% year-on-year in April, surpassing expectations but slowing from the previous month's 7.7% growth. Retail sales rose by 5.1% y-o-y, below the 5.9% growth seen in March. Fixed asset investment grew by 4.0% y-o-y, missing expectations due to continued business uncertainty amid trade tensions.

On Friday, U.S. equities ended higher. The Dow Jones Industrial Average rose 0.78%, reaching a one-month high. The S&P 500 gained 0.70%, and the NASDAQ Composite added 0.52%. Gains were led by the healthcare, utilities, and telecommunications sectors.

However, sentiment data released the same day showed weakness. The University of Michigan's preliminary consumer sentiment index for May came in at 50.8, down from 52.2 in April and below the forecasted increase to 53.4.

Powered by Capital Market - Live News