Indices trade with decent gains; IT shares jump
The domestic equity indices traded with moderate gains in mid-afternoon trade, supported by sustained buying interest. Investors remained focused on global cues and Q4 earnings announcements. The Nifty traded above the 24,800 level. IT shares jumped after declining in the past three trading sessions.
At 14:25 IST, the barometer index, the S&P BSE Sensex gained 392.80 points or 0.48% to 81,578.72. The Nifty 50 index rose 119 points or 0.48% to 24,802.90.
In the broader market, the S&P BSE Mid-Cap index rallied 0.73% and the S&P BSE Small-Cap index added 0.22%.
The market breadth was positive. On the BSE, 2,057 shares rose and 1,851 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, rose 2.58% to 17.84.
Economy:
India's infrastructure output, which tracks activity across eight sectors and makes up 40% of the country's industrial production, grew at 0.5% annually in April as against 4.6% in March, data from Ministry of Commerce & Industry showed on Tuesday. The Index of eight Core Industries is the measure of combined and individual performance of production of eight core industries: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.
India's retail inflation for farm as well as rural workers eased marginally to 3.48% and 3.53%, respectively, in April this year compared to the pace of price hikes for the two categories at 3.73% and 3.86% recorded in March. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) increased by 1 point each in April 2025 to stand at 1307 and 1320 points, respectively. The CPI-AL and CPI-RL were 1306 points and 1319 points, respectively, in March.
Buzzing Index:
The Nifty IT index rallied 0.72% to 37,552.35. The index declined 2.64% in the past three trading sessions.
Tech Mahindra (up 1.31%), Coforge (up 0.79%), Tata Consultancy Services (up 0.77%), HCL Technologies (up 0.63%), LTIMindtree (up 0.55%), Wipro (up 0.5%), Mphasis (up 0.45%), Infosys (up 0.27%) and Persistent Systems (up 0.13%) advanced.
Numbers to Track:
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.6875, compared with its close of 85.5800 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement added 0.73% to Rs 95,536.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.33% to 99.70.
The United States 10-year bond yield advanced 1.25% to 4.537.
In the commodities market, Brent crude for July 2025 settlement added 88 cents or 1.35% to $65.26 a barrel.
Stocks in Spotlight:
Gabriel India jumped 6.54% after the company's net profit rose 31.24% to Rs 64.36 crore while net sales rose 17.03% to Rs 1,073.15 crore in Q4 March 2025 over Q4 March 2024.
Panasonic Energy India Company rose 0.22%. The companys standalone net profit jumped 10.37% to Rs 1.17 crore in Q4 FY25, compared with Rs 1.06 crore in Q4 FY24. However, revenue from operations tumbled 12.56% year on year to Rs 63.40 crore in Q4 FY25.
JK Tyre Industries surged 13.23% after the companys consolidated net profit jumped 88.35% to Rs 97.04 crore on a 2.31% increase in revenue from operations to Rs 3,758.60 crore in Q4 FY25 over Q3 FY25.
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