Indices trade higher; European mrkt advance

The domestic equity barometers traded with substantial gains in afternoon trade, supported by buying interest amid positive global sentiment, expectations of a rate cut in the upcoming RBI policy meeting later this week, and continued foreign fund inflows. While investors await the policy outcome, they are also closely monitoring bond markets, Brent crude trends, and global trade developments. The Nifty traded above the 24,750 mark.

Realty, pharma and FMCG shares advanced while PSU Bank, auto and private bank stocks declined.

At 13:25 IST, the barometer index, the S&P BSE Sensex, advanced 475.63 points or 0.59% to 81,473.37. The Nifty 50 index jumped 148 points or 0.60% to 24,768.20.

In the broader market, the S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index added 0.73%.

The market breadth was strong. On the BSE, 2,369 shares rose and 1,473 shares fell. A total of 185 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 2.87% to 15.29.

Gainers & Losers:

Eternal (up 4.98%), Trent (up 3.52%), Dr Reddys Laboratories (up 3.40%), Power Gird Corporation of India (up 2.03%) and Shriram Finance (up 1.79%) were the major Nifty gainers.

Dr. Reddy's Laboratories rallied 3.40% after the company announced a collaboration with Iceland-based Alvotech to co-develop and commercialize a biosimilar to Keytruda (pembrolizumab) for global markets.

IndusInd Bank (down 1.11%), Bajaj Finserv (down 0.79%), Maruti Suzuki India (down 0.67%), Bajaj Finance (down 0.63%) and Axis Bank (down 0.44%) were the major Nifty losers.

Stocks in Spotlight:

Angel One added 3.54% after the firm announced that its client base jumped 34.1% to 31.95 million in May 2025, compared with 23.83 million in May 2024.

Power Grid Corporation of India added 1.99% after the company said that it has acquired MEL Power Transmission (MPTL), a special-purpose vehicle, for an aggregate value of Rs 8.53 crore.

Force Motors rallied 3.35% after the company's domestic sales jumped 24.46% to 3,002 units in May 2025, as against 2,412 units sold in May 2024.

Newgen Software Technologies rose 0.70%. The company received an order worth $2.5 million (approximately Rs 20.8 crore) from an international customer for the procurement of an enterprise workflow and content management system.

Garden Reach Shipbuilders & Engineers added 4.23% after the company announced the signing of memorandum of intent (MoI) and memorandum of understandings (MoUs) with various entities in Norway.

CESC declined 1.15%. The company said that its subsidiary, Purvah Green Power, has signed a framework agreement with Envision Energy India for the supply and commissioning of 1 GW wind turbine generators (WTGs).

Global Markets:

Most shares in Europe and Asia advanced Thursday. Investors awaited a rate cut from the European Central Bank (ECB). The central bank widely expected to trim interest rates by 25 basis points, taking its key rate, the deposit facility rate, to 2%

German factory orders rose 0.6% in April from the previous month, preliminary data showed on Thursday. The Federal Statistical Office said the rise in April was largely due to a significant increase in the manufacturing of data processing equipment, electrical goods and optical products.

Investor attention remained on a potential call between U.S. President Donald Trump and Chinese President Xi Jinping, which the White House indicated could take place this week. Optimism surrounding the potential dialogue contributed to gains on Wall Street earlier in the week.

The Caixin China services purchasing managers' index came in at 51.1 in May, rising from 50.7 in April and remaining above the 50-mark, which separates an expansion from a contraction.

China's services activity in May climbed from the month before, buoyed by rising tourism activity. However, new export orders slowed at a slightly lower pace, weighed by uncertainty from the U.S. tariffs.

On Wednesday, U.S. markets closed mixed. The Dow Jones Industrial Average declined by 0.22%, while the S&P 500 inched up 0.01% and the Nasdaq Composite gained 0.32%, supported by strength in technology stocks.

Meanwhile, private sector hiring in the U.S. fell to its lowest level in over two years. Data from payroll processor ADP showed that payrolls increased by only 37,000 in May, compared to a revised 60,000 in April. The report has heightened concerns about the impact of trade-related uncertainty on the U.S. economy. The data precedes the release of the official nonfarm payrolls report for May, scheduled for Friday, which investors now expect to show further weakness.

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