Indices edge higher; breadth positive

The key equity indices traded near flat line with positive bias in early trade, mirroring supportive global cues. The Nifty traded above the 24,950 mark. Market participants will closely monitor global trade developments and the ongoing Q4 earnings season. Metal, IT and FMCG shares advanced while realty, media and private bank stocks declined.

At 09:26 IST, the barometer index, the S&P BSE Sensex, added 76.59 points or 0.09% to 82,136.01. The Nifty 50 index advanced 25 points or 0.09% to 24,964.70.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.20% and the S&P BSE Small-Cap index shed 0.19%.

The market breadth was positive. On the BSE, 1,423 shares rose and 1,421 shares fell. A total of 129 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth 525.95 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 237.93 crore in the Indian equity market on 19 May 2025, provisional data showed.

Stocks in Spotlight:

Power Grid Corporation of India shed 0.89%. The company's consolidated net profit fell 0.56% to Rs 4142.87 crore in Q4 FY25 compared with Rs 4166.33 crore in Q4 FY24. Revenue from operations increased 2.48% YoY to Rs 12,275.35 crore in Q4 FY25.

Bharat Electronics (BEL) fell 0.59%. The company reported an 18.36% jump in consolidated net profit to Rs 2127.04 crore on 6.84% increase in revenue from operations to Rs 9149.59 crore in Q4 FY25 over Q4 FY24.

ACME Solar Holdings declined 3.21% after the company's consolidated net profit declined 76.83% to Rs 123.36 crore despite of a 64.96% jump in revenue from operations to Rs 486.88 crore in Q4 FY25 over Q4 FY24.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was flat at 6.222.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.4300, compared with its close of 85.4200 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement fell 0.39% to Rs 92,929.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 100.35.

The United States 10-year bond yield shed 0.38% to 4.458.

In the commodities market, Brent crude for July 2025 settlement added 1 cent or 0.02% to $65.55 a barrel.

Global Markets:

Asian shares advanced on Tuesday as investors awaited the Reserve Bank of Australia's monetary policy decision and digested fresh economic measures from China.

The People's Bank of China reduced its key lending rates by 10 basis points in an effort to support economic growth amid ongoing trade tensions. The 1-year loan prime rate was lowered from 3.1% to 3.0%, while the 5-year LPR, commonly used for mortgage pricing, was cut from 3.6% to 3.5%.

In equity markets, shares of Contemporary Amperex Technology, the world's largest battery manufacturer, rose over 11% during their trading debut in Hong Kong.

Meanwhile, U.S. markets closed higher overnight. The S&P 500 gained 0.09%, extending its winning streak to six sessions as Treasury yields eased and investors looked past Moody's recent downgrade of the U.S. credit outlook.

The Dow Jones Industrial Average rose 0.32%, supported by an 8% rebound in UnitedHealth following recent losses. The Nasdaq Composite edged up 0.02%.

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