Indices trade with major losses; oil & gas shares decline

The domestic equity benchmarks traded with heavy losses in the mid- afternoon trade, tracking weak global cues, as investor sentiment turned cautious ahead of key domestic economic data releases. The Nifty traded below the 24,750 mark. Oil & Gas shares slipped after advancing for the past two consecutive trading sessions.

At 14:29 IST, the barometer index, the S&P BSE Sensex, tanked 974.16 points or 1.19% to 81,197.39. The Nifty 50 index slipped 270.75 points or 1.08% to 24,733.24.

In the broader market, the S&P BSE Mid-Cap index shed 0.04% and the S&P BSE Small-Cap index added 0.07%.

The market breadth was negative. On the BSE, 1,765 shares rose and 2,095 shares fell. A total of 170 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index shed 0.82% to 11,432.85. The index rose 0.47% in the previous trading session.

Bharat Petroleum Corporation (down 1.97%), Hindustan Petroleum Corporation (down 1.83%), Gujarat State Petronet (down 1.08%), Reliance Industries (down 0.9%), Oil & Natural Gas Corpn (down 0.74%) were the top losers. Among the other losers were Castrol India (down 0.58%), Mahanagar Gas (down 0.47%), Gujarat Gas (down 0.47%), Petronet LNG (down 0.46%) and Indian Oil Corporation (down 0.28%) down.

On the other hand, Adani Total Gas (up 0.82%) ,Oil India (up 0.58%) and GAIL (India) (up 0.41%) moved up.

Numbers to Track:

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.4050, compared with its close of 85.1000 during the previous trading session.

MCX Gold futures for 5 June 2025 settlement shed 0.72% to Rs 95,242.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.33% to 99.32.

The United States 10-year bond yield tumbled 1.04% to 4.464.

In the commodities market, Brent crude for July 2025 settlement rose 1 cents or 0.02% to $64.79 a barrel.

Stocks in Spotlight:

Hi-Tech Pipes added 1.84% after the company's consolidated net profit jumped 58.4% to Rs 17.63 crore on 7.7% increase in revenue from operations to Rs 733.74 crore in Q4 FY25 over Q4 FY24.

Talbros Automotive Components (TACL) tumbled 5.55% after the company's net profit declined 46.60% year-on-year to Rs 26.58 crore in Q4 FY25, compared to Rs 49.78 crore in Q4 FY24. Revenue from operations rose 1.57% YoY to Rs 205.86 crore in Q4 FY25.

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