Barometers trade with modest gains; Nifty above 25,100 level

The key equity indices traded with minor gains in the afternoon trade buoyed by the Reserve Bank of India's firm monetary policy stance and positive global sentiment. Barring the Nifty Realty index, all the sectoral indices on the NSE were traded in green. The Nifty traded above the 25,100 mark.

At 13:28 IST, the barometer index, the S&P BSE Sensex, added 275.02 points or 0.32% to 82,456.03. The Nifty 50 index rose 101.15 points or 0.40% to 25,104.15.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.96% and the S&P BSE Small-Cap index added 1.14%.

The market breadth was strong. On the BSE, 2,752 shares rose and 1,305 shares fell. A total of 171 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tanked 2.47% to 16.48.

Gainers & Losers:

Kotak Mahindra Bank (up 3.20%), Jio Financial Services (up 2.98%), Bajaj Finance (up 2.69%), Trent (up 2.30%) and Axis Bank (up 2.18%) were the major Nifty50 gainers.

Eternal (down 1.65%), ICICI Bank (down 1.32%), HDFC Life Insurance Company (down 0.90%), Mahindra & Mahindra (down 0.72%) and UltraTech Cement (down 0.60%) were the major Nifty50 Losers.

Mahindra & Mahindra shed 0.70%. The company's production jumped 27.56% to 89,626 units in May 2025, compared with 70,261 units produced in May 2024.

Economy:

India's forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday.

For the week ended May 30, foreign currency assets'a major component of the reserves'fell $1.952 billion to $584 billion, according to the RBI data.

The gold reserves increased by $723 million to $84.305 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $2 million to $18.569 billion, the apex bank said.

India's reserve position with the IMF was also down by $6 million at $4.395 billion in the reporting week, the apex bank data showed.

Stocks in Spotlight:

Hindustan Zinc surged 4.12% after the company has scheduled board meeting on 11 June 2025, to consider and approved the first interim dividend for the financial year 2025'26.

PNC Infratech added 3.34% after the company received a letter of acceptance (LOA) worth Rs 239.94 crore from PWD-Rajasthan for the construction of a flyover in Bharatpur, Rajasthan.

Mahindra EPC Irrigation gained 3.28% after the firm received an order worth Rs 4.32 crore from the water resources department for allied works related to the implementation of a community micro irrigation project.

Kernex Microsystems (India) hit an upper circuit of 5% after the company said that its joint venture, the Kernex-KEC Consortium, has received a Letter of Acceptance (LoA) worth Rs 182.81 crore from Western Railway. Kernex holds a 70% stake in the consortium.

NIBE added 0.78%. The company entered into a licensing agreement with the Defence Research and Development Organisation (DRDO), Research & Development Establishment (Engineers), Pune. The agreement covers the transfer of technology (ToT) to manufacture modular bridging systems ranging from 14 to 46 meters in length. The contract is valued at Rs 3.76 crore.

Global Markets:

European markets opened lower on Monday as global investors remained cautious ahead of the upcoming US-China trade talks, which are expected to take place in London.

Asian market moved higher as investors awaited trade discussions between the United States and China and reviewed the latest economic data from China and Japan.

China's consumer price index declined 0.1% year-on-year in May, unchanged from the previous month, according to government data released Monday. The producer price index fell 3.3% year-on-year, marking the sharpest decline in 22 months and following a 2.7% decrease in April.

Japan's gross domestic product contracted 0.2% year-on-year in the January'March quarter. While better than the preliminary estimate of a 0.7% decline, it reflected a reversal from 2.4% growth in the previous quarter.

Reports indicated that China granted temporary approvals for rare earth exports, and Boeing resumed commercial aircraft deliveries to China.

In the United States, equities closed higher on Friday following the release of nonfarm payroll data and news of upcoming trade talks. The US economy added 139,000 jobs in May, down from April's revised figure of 147,000. March payrolls were also revised lower to 120,000.

Average hourly earnings increased by 0.1% on a monthly basis in May, resulting in a 0.4% annual pace, reflecting ongoing wage pressures.

President Donald Trump stated that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer would meet Chinese officials in London on Monday to discuss trade matters.

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