Indices trade with small gains; broader mrkt outperforms

Business Standard

7 days ago

The domestic equity indices traded near the flatline with some positive bias in early trade amid mixed global cues. The Nifty traded above the 24,800 level. Realty, private bank and FMCG shares advanced while IT, metal and media shares declined.
At 09:30 IST, the barometer index, the S&P BSE Sensex, added 58.82 points or 0.07% to 81,615.84. The Nifty 50 index rose 15.80 points or 0.06% to 24,838.60.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index added 0.23%.
The market breadth was positive. On the BSE, 1,600 shares rose and 1,176 shares fell. A total of 152 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth 884.03 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,286.50 crore in the Indian equity market on 29 May 2025, provisional data showed.
Stocks in Spotlight:
Bajaj Auto fell 1.86% after the companys consolidated net profit declined 10.4% to Rs 1801.85 crore despite a 8.5% increase in net sales to Rs 12,204.49 crore in Q4 FY25 over Q4 FY24.
Suzlon Energy soared 12.81% after its consolidated net profit surged 365.2% to Rs 1182.22 crore on 73.2% jump in net sales to Rs 3,773.54 crore in Q4 FY25 over Q4 FY24.
Numbers to Track:
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.2700, compared with its close of 85.4825 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement shed 0.66% to Rs 94,760.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 99.40.
The United States 10-year bond yield fell 0.09% to 4.420.
In the commodities market, Brent crude for August 2025 settlement fell 34 cents or 0.54% to $63.01 a barrel.
Global Markets:
Asian shares traded lower on Friday 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.
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.