Indices open lower in early trade; breadth positive
The domestic equity indices traded with major losses in early trade amid negative global sentiments. The Nifty traded below the 24,600 level. PSU Bank, FMCG and realty shares advanced while IT, metal and consumer durables shares declined.
At 09:25 IST, the barometer index, the S&P BSE Sensex, declined 728.54 points or 0.89% to 80,722.47. The Nifty 50 index fell 180.30 points or 0.71% to 24,578.15.
In the broader market, the S&P BSE Mid-Cap index shed 0.09% and the S&P BSE Small-Cap index decined 0.37%.
The market breadth was positive. On the BSE, 1,328 shares rose and 1,765 shares fell. A total of 197 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth 6,449.74 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 9,095.91 crore in the Indian equity market on 30 May 2025, provisional data showed.
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 of 6.4%, was lower than the 8.4% growth logged in Q4 FY24.
Meanwhile, Indias 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 governments fiscal deficit stood at Rs 15.77 lakh crore, or 100.5% of the revised annual target, compared with 95.4% a year before.
Numbers to Track:
The yield on India's 10-year benchmark federal paper added 0.16% to 6.192 from previous close of 6.182.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4275, compared with its close of 85.5550 during the previous trading session.
MCX Gold futures for 5 August 2025 settlement rose 0.31% to Rs 96,170.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 99.29.
The United States 10-year bond yield fell 0.07% to 4.412.
In the commodities market, Brent crude for August 2025 settlement rose $1.39 or 2.21% to $64.17 a barrel.
Stocks in Spotlight:
Apollo Hospitals Enterprise advanced 1.94% after the company reported 53.5% jump in consolidated net profit to Rs 389.60 crore on 13.1% increase in revenue from operations to Rs 5,592.20 crore in Q4 FY25 over Q4 FY24.
FSN E-Commerce Ventures (Nykaa) rose 0.25%. The companys consolidated net profit surged 192.6% to Rs 20.28 crore on 23.6% jump in revenue from operations to Rs 2,061.76 crore in Q4 FY25 over Q FY24.
Rama Steel Tubes declined 3.34% after the company has reported 3.9% fall in consolidated net profit to Rs 6.84 crore despite a 9.3% increase in revenue from operations to Rs 293.13 crore in Q4 FY25 as compared with Q4 FY24.
Global Markets:
US Dow Jones futures were down 140 points, signaling a weak start for Wall Street.
Most Asian shares traded lower 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 Chinas alleged breach of a recent trade agreement. He didnt 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 Trumps tariff plans, but an appeals court swiftly reinstated them. The case now looks poised to head to the Supreme Court.
Trump, undeterred, hinted hed 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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