Nifty slides below 24,800; auto shares in pressure

The key equity indices traded with substantial losses in afternoon trade, as investors booked profits after recent gains, despite supportive global cues. Market participants turned cautious ahead of key global trade developments and the ongoing Q4 earnings season, which are expected to steer sentiment in the coming days. The Nifty traded below the 24,800 level after hitting the day's high of 25,010.35 in the early trade.

Auto, FMCG and private bank shares declined while metal and realty stocks advanced.

At 13:30 IST, the barometer index, the S&P BSE Sensex, tumbled 607.27 points or 0.75% to 81,446.59. The Nifty 50 index fell 165.55 points or 0.67% to 24,779.45.

In the broader market, the S&P BSE Mid-Cap index fell 0.76% and the S&P BSE Small-Cap index shed 0.34%.

The market breadth was negative. On the BSE, 1,551 shares rose and 2,328 shares fell. A total of 147 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.84% to 17.21

Gainers & Losers:

Coal India (up 2.58%), Oil & Natural Gas Corporation (up 1.09%), Tata Steel (up 1.05%), Dr. Reddy's Laboratories (up 1%) and Bharat Electronics (up 0.99%) were the major Nifty50 gainers.

ETERNAL (down 3.77%), Maruti Suzuki India (down 1.83%), Hero MotoCorp (down 1.80%), Trent (down 1.69%) and Mahindra & Mahindra (down 1.59%) were the major Nifty50 Losers.

Bharat Electronics (BEL) rose 0.99%. The company's standalone net profit surged 18.01% to Rs 2,104.78 crore on 6.93% rise in revenue from operations to Rs 9,119.71 crore in Q4 FY25 over Q4 FY24.

Stocks in Spotlight:

Pfizer soared 11.78% after the company's adjusted net profit rose 10.89% to Rs 198.33 crore while net sales rose 8.28% to Rs 591.91 crore in Q4 March 2025 over Q4 March 2024.

Acme Solar Holdings declined 2.96% after the company reported a 76.82% decline in consolidated net profit to Rs 123.36 crore in Q4 FY25, compared to Rs 532.39 crore in Q4 FY24. Despite the steep drop in profitability, the company's revenue from operations surged 64.95% to Rs 486.89 crore during the quarter.

Restaurant Brands Asia rallied 4.64% after the company's consolidated net loss reduced to Rs 60.44 crore in Q4 FY25 from a net loss of Rs 92.09 crore posted in Q4 FY24. However, revenue from operations advanced 5.92% YoY to Rs 632.55 crore in Q4 FY25.

IRB Infrastructure Developers slipped 1.18%. The company's consolidated net profit increased 13.68% to Rs 214.72 crore in Q4 FY25 as against Rs 188.88 crore posted in Q4 FY24. However, revenue from operations rose 4.26% to Rs 2,149.24 crore in the fourth quarter of FY25 as against Rs 2,061.24 crore reported in Q4 FY24.

JK Paper declined 1.34% after its consolidated net profit tumbled 72.35% to Rs 76.20 crore in Q4 FY25 as against Rs 275.64 crore posted in same quarter last year. Revenue from operations shed 1.69% year on year (YoY) to Rs 1,689.50 crore in the quarter ended 31 March 2025.

NLC India rallied 3.03% after its consolidated net profit zoomed 321.83% to Rs 481.96 crore on 8.34% increase in revenue from operations to Rs 3,836 crore in Q4 FY25 over Q4 FY24.

Global Markets:

European shares advanced on Tuesday as investors awaited Germany's producer price index data.

Asian shares advanced as Australia's central bank cut its policy rate to 3.85%, its lowest level since May 2023, as inflation concerns in the country continue to recede, giving room for the bank to ease monetary policy.

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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