Sensex, Nifty pare some losses; Europe mrkt open lower

The frontline indices trimmed some losses and traded with small losses in afternoon trade, as pressure on the indices eased despite weak global cues. Investors will closely monitor key events such as the RBI MPC meeting and global trade developments. The Nifty traded above the 24,700 level.

IT, consumer durables and metal shares declined while realty, PSU Bank and FMCG stocks advanced.

At 13:28 IST, the barometer index, the S&P BSE Sensex, declined 132.40 points or 0.18% to 81,302.09. The Nifty 50 index fell 40.25 points or 0.16% to 24,711.05.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.49% and the S&P BSE Small-Cap index added 0.50%.

The market breadth was positive. On the BSE, 2,100 shares rose and 1,907 shares fell. A total of 192 shares were unchanged.

Economy:

India's GDP growth touched a four-quarter high of 7.4% in Q4 FY25, with full-year growth ending at 6.5%, according to data released by the government post-market hours Friday. The GDP growth, higher than the previous quarter's 6.4%, was lower than the 8.4% growth logged in Q4 FY24.

Meanwhile, India's fiscal deficit for FY25 stood at 4.8% of GDP, meeting the revised estimate, according to data released by the Comptroller General of Accounts on Friday. The central government's fiscal deficit stood at Rs 15.77 lakh crore, or 100.5% of the revised annual target, compared with 95.4% a year before.

Further, the seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) declined to 57.6 in May 2025, down from 58.2 in April 2025, highlighting the weakest improvement in operating conditions since February. The headline figure was nevertheless well above both the neutral mark of 50.0 and its long-run average of 54.1.

Panelists suggested that demand strength continued to support sales and production, though competition, inflation, and the India-Pakistan conflict had reportedly weighed on growth.

Gainers & Losers:

Adani Ports & Special Economic Zone (APSEZ) (up 2.99%), Mahindra & Mahindra (up 1.75%), Tata Consumer Products (up 1.44%), Adani Enterprises (up 1.35%) and Eternal (up 1.31%) were the major Nifty gainers.

Hero Motocorp (down 1.96%), Tech Mahindra (down 1.63%), HDFC Life Insurance Company (down 1.54%), JSW Steel (down 1.39%) and Bajaj Auto (down 1.36%) were the major Nifty losers.

Auto sales data:

Bajaj Auto declined 1.32%. The company has recorded total sales of 3,84,621 units in May 2025, which is higher by 8.25% compared with the sales volume of 3,55,323 units sold in May 2024.

Hero MotoCorp fell 1.87%. The company said that it has dispatched 507,701 units of motorcycles and scooters during May 2025, which is higher 1.92% as compared with the dispatch figure of 498,123 units recorded in May 2024.

SML Isuzu rose 0.72%. The company said that it sold 1,543 units in May 2025, registering a de-growth of 1.3% from 1,563 units sold in the same period last year.

Hyundai Motor India (HMIL) rose 0.32%. The company reported total sales of 58,701 units in May 2025, marking a marginal increase of 1% from 58,502 units sold in May 2024, including 43,861 units sold in the domestic market and 14,840 units exported.

Eicher Motors added 0.16%. The company has reported 26% jump in total motorcycle sales to 89,429 units in May 2025 from 71,010 units in May 2024.

Atul Auto shed 0.29%. The company reported 7.34% increase in total sales to 2,502 units in May 2025 as against 2,331 units sold in May 2024.

Ashok Leyland gained 0.17%. The company reported a 5% rise in total commercial vehicle sales to 15,484 units in May 2025 from 14,682 units sold in May 2024.

TVS Motor Company shed 0.56%. The company has registered sales of 431,275 units in May 2025, which is higher by 17% as compared with the 369,914 units sold in May 2024.

Escorts Kubota rallied 3.05% after the tractor manufacturer announced that its agri-machinery business division recorded a marginal 0.7% year-on-year increase in sales to 10,354 units in May 2025, compared to 10,286 units sold in May 2024.

Stocks in Spotlight:

Apollo Hospitals Enterprise added 1.19% after the company reported a 53.5% jump in consolidated net profit to Rs 389.60 crore on a 13.1% increase in revenue from operations to Rs 5,592.20 crore in Q4 FY25 over Q4 FY24.

FSN E-Commerce Ventures (Nykaa) tumbled 4.26% after the company's consolidated net profit fell 22.36% to Rs 20.28 crore on 9.06% fall in revenue from operations to Rs 2,061.76 crore in Q4 FY25 over Q3 FY25.

Alembic Pharmaceuticals declined 1.77% after the United States Food and Drug Administration (USFDA) issued Form 483 with four observations to the company's Panelav API-I & II facility.

Global Markets:

US Dow Jones futures were down 187 points, signaling a weak start for Wall Street.

European and Asian shares declined Monday after U.S. President Donald Trump announced a fresh tariff hike on steel imports, sending jitters across global markets. Speaking to U.S. steelworkers late Friday, Trump said he would double tariffs on steel from 25% to 50%, effective Wednesday, June 4.

Markets in China, Malaysia, and New Zealand were closed for holidays, muting some of the early regional reactions.

Trump also took to Truth Social to confirm the June 4 rollout, claiming the hike was in response to China's alleged breach of a recent trade agreement. He didn't elaborate on how the deal was violated but added that he plans to speak with Chinese President Xi Jinping 'soon.'

Wall Street ended last week on a mixed note. The S&P 500 was nearly flat, inching down 0.01% to close a strong month. The Nasdaq Composite slipped 0.32%, while the Dow Jones eked out a 0.13% gain.

Commerce Secretary Howard Lutnick backed the tariff decision over the weekend, saying the measures were 'not going anywhere', even as they face stiff legal resistance. A federal trade court had recently blocked much of Trump's tariff plans, but an appeals court swiftly reinstated them. The case now looks poised to head to the Supreme Court.

Trump, undeterred, hinted he'd use alternative mechanisms to enforce the tariffs if necessary. This legal showdown is unfolding just weeks ahead of a key July deadline to ink new trade deals. If those talks fall through, Trump has threatened sweeping new tariffs on several major economies.

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