Sensex dips 182 pts, Nifty settles at 24,750 ahead of domestic GDP data

Business Standard

a day ago

The domestic equity benchmarks ended with minor losses today as traders turned cautious ahead of the release of the domestic GDP data. The Nifty settled near the 24,750 mark. PSU bank and media shares advanced while metal, IT and auto shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 182.01 points or 0.22% to 81,451.01. The Nifty 50 index shed 82.90 points or 0.33% to 24,750.70.
In the broader market, the S&P BSE Mid-Cap index fell 0.39% and the S&P BSE Small-Cap index added 0.17%.
The market breadth was negative. On the BSE, 1,822 shares rose and 2,169 shares fell. A total of 128 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.08% to 16.08.
IPO Update:
The initial public offer (IPO) of Scoda Tubes received bids for 53,05,29,300 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 15:20 IST on Friday (30 May 2025). The issue was subscribed 44.78 times.
The issue opened for bidding on Wednesday (28 May 2025) and it will close on Friday (30 May 2025). The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Metal index declined 1.69% to 9,193.25. The index slipped 1.28% in previous consecutive trading session.
Jindal Stainless (down 3.87%), Vedanta (down 3.53%), Hindalco Industries (down 2.56%), Jindal Steel & Power (down 2.47%), National Aluminium Company (down 1.82%), NMDC (down 1.65%), Hindustan Copper (down 1.49%), Lloyds Metals & Energy (down 1.43%), Tata Steel (down 1.42%) and Hindustan Zinc (down 1.39%) tanked.
Stocks in Spotlight:
Bajaj Auto tanked 3.10%. The company's standalone net profit rose 6% to Rs 2,049 crore, while revenue from operations increased 6% to Rs 12,148 crore in Q4 March 2025 over Q4 March 2024.
Welspun Living tumbled 10.04% after the company reported a 9.71% decrease in consolidated net profit of Rs 131.82 crore in Q4 FY25 as against Rs 146 crore in Q4 FY24. Revenue rose by 2.74% year-over-year to Rs 2,645.90 crore during the period under review.
NBCC (India) soared 5.92% after the company reported a 29.27% increase in consolidated net profit of Rs 175.92 crore in Q4 FY25 as against Rs 136.08 crore in Q4 FY24. Revenue from operations rose 16.17% year on year (YoY) to Rs 4,642.55 crore in the quarter ended 31 March 2025.
SJVN dropped 5.54% after the company reported consolidated net loss of Rs 127.60 crore in Q4 FY25 as against net profit of Rs 61.08 crore posted in Q4 FY24. However, revenue from operations rose by 4.45% year-over-year to Rs 504.40 crore during the period under review.
Samhi Hotels rose 0.55%. The company reported a 305.93% surge in consolidated net profit to Rs 45.87 crore, while revenue from operations rose 14.2% to Rs 318.81 crore in Q4 March 2025 over Q4 March 2024.
Ola Electric Mobility declined 5.11% after the companys consolidated net loss widened to Rs 870 crore in Q4 FY25, compared with a net loss of Rs 416 crore in Q4 FY24. Revenue from operations tumbled 61.8% YoY to Rs 611 crore in Q4 FY25.
Landmark Cars fell5.16% to Rs 455.95 after the companys consolidated net profit declined 86.6% YoY to Rs 1.42 crore despite a 26.3% jump in revenue from operations to Rs 1,091.22 crore in Q4 FY25 over Q4 FY24.
Sobha jumped 3.00% after the companys consolidated net profit surged 481.2% to Rs 40.86 crore on 62.6% increase in revenue from operations to Rs 1,240.62 crore in Q4 FY25 over Q4 FY24.
Suzlon Energy surged 9.05% after the companys consolidated net profit surged 365.2% to Rs 1,182.22 crore on 73.2% jump in revenue from operations to Rs 3,773.54 crore in Q4 FY25 over Q4 FY24.
KNR Constructions declined 4.37% after the company's consolidated net profit tumbled 60.58% to Rs 139.24 crore on 31.03% decline in revenue from operations Q4 FY25 over Q4 FY24.
Gujarat Pipavav Port surged 5.91% after the companys consolidated net profit jumped 70.68% to Rs 112.36 crore on 0.19% marginally rise in revenue from operations to Rs 251.77 crore in Q4 FY25 over Q4 FY24.
Global Markets:
European shares traded higher on Friday, shrugging off concerns over the re-imposition of U.S. tariffs by U.S. courts.
Asian shares tumbled lower as investor sentiment remained cautious amid signs of a slowing U.S. economy, persistent inflation concerns, and uncertainty surrounding recent judicial developments linked to U.S. President Donald Trumps tariff policies.
On Wednesday, the U.S. Court of International Trade ruled that Trump had exceeded his authority in imposing the so-called reciprocal tariffs and ordered them to be vacated. In response, the Trump administration filed an appeal, and by Thursday afternoon, an appellate court reinstated the levies. The administration indicated it may approach the Supreme Court as early as Friday to pause the lower courts decision.
Australia's retail sales unexpectedly declined by 0.1% in April, snapping a three-month growth streak, driven by a drop in clothing purchases, as per data released by the Australian Bureau of Statistics. The decline follows a 0.3% growth in March, adding to expectations of potential rate cuts by the Reserve Bank of Australia.
On a year-over-year basis, retail sales rose 3.8% in April, amounting to A$37.2 billion ($23.9 billion), slower than the 4.3% increase recorded in March.
In regional economic data, Japans core consumer price index, excluding fresh food, rose 3.6% year-on-year in May, slightly higher than Aprils 3.4%, according to the Statistics Bureau. The countrys unemployment rate remained unchanged at 2.5% in April.
South Korea reported a 0.9% decline in industrial production for April on a seasonally adjusted basis, following a 2.9% increase in March, according to data released by Statistics Korea.
Despite the uncertainty, U.S. markets closed slightly higher overnight. The S&P 500 rose 0.4%, the Nasdaq Composite added 0.39%, and the Dow Jones Industrial Average gained 0.28%. However, gains were limited by investor caution surrounding the ongoing legal proceedings related to the tariffs.