Benchmarks snap two-day rising streak, Nifty holds 24,800

The domestic equity benchmarks declined sharply on Tuesday, ending their two-day winning streak. A mixed trend across Asian markets sparked profit booking in Indian equities. The Nifty50 once again struggled to break past the 25,000 mark, highlighting the lack of fresh positive triggers. Auto, IT, and FMCG stocks were among the biggest drags on the indices. However, mid- and small-cap stocks held up relatively well, buoyed by a cooling in premium valuations.

The S&P BSE Sensex tanked 624.82 points or 0.76% to 81,551.63. The Nifty 50 index slipped 174.95 points or 0.70% to 24,826.20.

ICICI Bank (down 0.92%), Reliance Industries (down 0.86%) and HDFC Bank (down 0.69%) were major drags.

In the broader market, the S&P BSE Mid-Cap index rose 0.18% and the S&P BSE Small-Cap index added 0.19%.

The market breadth was negative. On the BSE, 1957 shares rose and 1979 shares fell. A total of 148 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.85% to 18.54.

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 fell 0.89% to Rs 95,085.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.41% to 99.40.

The United States 10-year bond yield tumbled 0.95% to 4.468.

In the commodities market, Brent crude for July 2025 settlement rose 16 cents or 0.25% to $64.94 a barrel.

Global Markets:

US Dow Jones futures soared 544 points early Tuesday, hinting at a strong start for Wall Street after a long weekend break. The US stock market was shut on Monday for Memorial Day.

European markets advanced on Tuesday as French inflation cooled to 0.6% in May. Provisional data from Insee, France's statistics office, pointed to annual harmonized inflation increasing by 0.6% in May It marked a slowdown from April, when French inflation rose by 0.9% on an annual basis.

German consumer sentiment improved in May. According to the GfK Consumer Climate report, sentiment rose for the third consecutive month in May, driven by easing inflation and favorable wage settlements. However, despite the improvement, overall sentiment remained low as U.S. tariff policies continued to dampen consumer willingness to spend, with many hesitant to make discretionary purchases.

In the U.K., food inflation rose by 2.8% year-on-year in May, according to the British Retail Consortium. This marks the fourth consecutive month of rising prices, up from 2.6% in April and above the three-month average of 2.6%.

Asian shares ended mixed as investors continued to assess the global trade climate after U.S. President Donald Trump deferred 50% tariffs on European Union imports.

Japan's Nikkei slipped after Bank of Japan Governor Kazuo Ueda highlighted risks from sticky inflation. He hinted that more rate hikes could be on the table if the economy picks up steam.

China, meanwhile, offered a glimmer of optimism. Industrial profits rose 3% year-on-year in April, beating March's 2.6% growth. For the first four months of the year, profits are up 1.4%, according to the National Bureau of Statistics.

Stocks in Spotlight:

Shriram Properties surged 15.12% after the company's consolidated net profit soared 137% to Rs 47.78 crore on 34.9% jump in revenue from operations to Rs 407.73 crore in Q4 FY25 over Q4 FY24.

Jio Financial Services gained 3.46% after JioBlackRock Asset Management, a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock, on May 27 said it has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as an investment manager for their mutual fund business in India.

Schneider Electric Infrastructure jumped 2.96% after the company's standalone net profit soared 1571.1% to Rs 55 crore while net sales rose 24.4% to Rs 587 crore in Q4 March 2025 over Q4 March 2024.

Bayer CropScience surged 10.67% after the company's standalone net profit jumped 49.27% to Rs 143.30 crore while net sales rose 32.07% to Rs 1,046.40 crore in Q4 March 2025 over Q4 March 2024.

India Pesticides surged 10.61% after the company's consolidated net profit zoomed 1,953.8% to Rs 21.77 crore on a 64.06% increase in revenue from operations to Rs 207.24 crore in Q4 FY25 compared to Q4 FY24.

Blue Dart Express slipped 5.13% after the company reported 29.09% decline in consolidated net profit to Rs 55.15 crore in Q4 FY25 as against Rs 77.78 crore posted in Q4 FY24. However, revenue from operations rose 7.13% YoY to Rs 1,417.32 crore in the quarter ended 31 March 2025.

Brainbees Solutions (Firstcry) tanked 6% after the company's consolidated net loss widened to Rs 76.74 crore in Q4 FY25, compared with a net loss of Rs 51.74 crore in Q4 FY24. Revenue from operations jumped 15.8% YoY to Rs 1,930.32 crore in Q4 FY25.

Olectra Greentech declined 6.5% after the company's consolidated net profit slipped 55.6% to Rs 20.69 crore in Q4 FY25, compared with Rs 46.62 crore in Q3 FY25. Revenue from operations declined 12.89% QoQ to Rs 448.92 crore during the quarter.

Venus Remedies soared 10.78% after the company reported a 99.80% surge in consolidated net profit to Rs 21 crore in Q4 FY25 as against Rs 10.51 crore recorded in Q4 FY24. However, revenue from operations decreased marginally to Rs 194.97 crore in Q4 FY25, as against Rs 195.16 crore in the corresponding quarter of the previous year.

Bondada Engineering rose 5.8% after the company announced that it has secured a Letter of Award (LOA) worth Rs 204.20 crore from Telangana Power Generation Corporation (TGGENCO) for setting up of Battery Energy Storage Systems (BESS).

New Listing:

Shares of Borana Weaves settled at Rs 255.10 on the BSE, representing a premium of 18.10% compared with the issue price of Rs 216.

The scrip was listed at Rs 243, exhibiting a premium of 12.5% to the issue price. The stock hit a high of 255.10 and a low of 243. On the BSE, over 2.06 lakh shares of the company were traded in the counter.

IPO Update:

The initial public offer (IPO) of Schloss Bangalore received bids for 76,78,934 shares as against 4,66,10,169 shares on offer, according to stock exchange data at 16:45 IST on Tuesday (27 May 2025). The issue was subscribed 0.16 times.

The issue opened for bidding on Monday (26 May 2025) and it will close on Wednesday (28 May 2025). The price band of the IPO is fixed between Rs 413 and 435 per share. An investor can bid for a minimum of 34 equity shares and in multiples thereof.

Aegis Vopak Terminals' IPO received bids for 2,38,62,951 shares as against 6,90,58,296 shares on offer, according to stock exchange data at 16:45 IST on Tuesday (27 May 2025). The issue was subscribed 0.35 times.

The issue opened for bidding on Monday (26 May 2025) and it will close on Wednesday (28 May 2025). The price band of the IPO is fixed between Rs 223 and 235 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.

Prostarm Info Systems' IPO received bids for 3,91,39,176 shares as against 1,12,00,000 shares on offer, according to stock exchange data at 16:45 IST on Tuesday (27 May 2025). The issue was subscribed 3.49 times.

The issue opened for bidding on Tuesday (27 May 2025) and it will close on Thursday (29 May 2025). The price band of the IPO is fixed between Rs 223 and 235 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof.

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