Benchmarks trade with moderate gains; European mrkt open higher
Barring the media index, all the sectoral indices on the NSE were traded in green with metal, auto and IT shares advancing the most.
At 13:26 IST, the barometer index, the S&P BSE Sensex, added 342.67 points or 0.42% to 82,063.75. The Nifty 50 index advanced 117 points or 0.47% to 24,968.50.
In the broader market, the S&P BSE Mid-Cap index added 0.45% and the S&P BSE Small-Cap index jumped 0.49%.
The market breadth was positive. On the BSE, 2,230 shares rose and 1,739 shares fell. A total of 204 shares were unchanged.
Economy:
The Reserve Bank of India (RBI) on Friday handed the government a whopping Rs 2.68 lakh crore in surplus for FY25, 27% more than last year and even higher than what the Union Budget had estimated. Analysts suggest that this additional amount could support the government?s objective of reducing the fiscal deficit to 4.4% for the current financial year.
Gainers & Losers:
JSW Steel (up 2.63%), Bajaj Auto (up 2.31%), Mahindra & Mahindra (up 2%), Nestle India (up 1.79%) and Hero Motocorp (up 1.77%) were the major Nifty50 gainers.
JSW Steel jumped 2.63% after the company reported a 15.7% year-on-year (YoY) increase in consolidated net profit to Rs 1,503 crore for the quarter ended 31 March 2025, compared to Rs 1,299 crore in the corresponding period last year. Revenue from operations declined 3.13% YoY to Rs 44,819 crore in Q4 FY25.
Eternal (down 4.84%), Sun Pharmaceutical Industries (down 0.81%), UltraTech Cement (down 0.61%), Maruti Suzuki India (down 0.37%) and Asian Paints India (down 0.37%) were the major Nifty50 losers.
Stocks in Spotlight:
NTPC shed 0.10%. The company has reported 23.4% increase in consolidated net profit to Rs 7,611.22 crore on a 4.6% rise in net sales to Rs 49,833.70 crore in Q4 FY25 as compared with Q4 FY24.
Indigo Paints added 1.36% after the company?s consolidated net profit rose 5.99% to Rs 56.90 crore in Q4 FY25 as against Rs 53.68 crore in Q4 FY24.
GE Vernova T&D India hit an upper circuit of 10% after the company?s standalone net profit surged 181.3% to Rs 186.50 crore on a 26.15% jump in revenue from operations to Rs 1,152.54 crore in Q4 FY25 over Q4 FY24.
Ruchira Papers surged 9.88% after the company?s standalone net profit surged 90.87% to Rs 18.40 crore on a 1.04% rise in revenue from operations to Rs 161.68 crore in Q4 FY25 over Q4 FY24.
Narayana Hrudayalaya rose 1.66% after the company reported a 3.41% rise in consolidated net profit to Rs 197.21 crore on an 18.39% increase in revenue from operations to Rs 1,475.44 crore in Q4 FY25 over Q4 FY24.
Finolex Industries surged 6.82% after the company's standalone net profit surged 111.75% to Rs 150.26 crore while net sales rose 17.04% to Rs 1,171.81 crore in Q4 March 2025 over Q3 December 2024.
Anupam Rasayan India rose 5.04% after the company's consolidated net profit surged 44.19% to Rs 44.57 crore on a 24.72% jump in revenue from operations to Rs 500.16 crore in Q4 FY25 over Q4 FY24.
Global Markets:
The US Dow Jones index futures were currently up by 346 points, signaling a strong opening for US stocks today.
Most European shares traded higher while Asian stocks traded mixed on Monday, as U.S. President Donald Trump issued and then softened threats of increased tariffs on European imports over the weekend. Japanese equities extended recent gains, while technology shares across the region, particularly those supplying Apple Inc., declined.
Investor sentiment was weighed down by concerns that Trump may impose a 25% tariff on all iPhones and other smartphones manufactured overseas. The remarks added pressure to tech stocks in Asia, many of which are key suppliers in Apple's global production chain.
Broader Asian markets also tracked the losses seen on Wall Street last Friday, when Trump initially announced plans to impose 50% tariffs on European Union goods. However, on Sunday, he stated that implementation would be delayed until July 9.
Reports indicate that Japanese trade officials will visit Washington in early June for a fourth round of bilateral trade discussions. Despite ongoing talks, Japan has maintained its position that the United States should remove all existing tariffs on Japanese exports.
U.S. market ended lower on Friday following the renewed trade rhetoric. The Dow Jones Industrial Average fell 0.61%, the S&P 500 dropped 0.67%, and the NASDAQ Composite declined 1%.
In a post on Truth Social, Trump stated that he would recommend a 50% tariff on all EU imports starting June 1, citing a lack of progress in trade negotiations. He wrote, The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with, Trump said on Truth Social social media site. Our discussions with them are going nowhere!
Earlier in the year, the administration had imposed a series of tariffs on EU goods, including a 25% duty on automobiles, steel, and aluminium in March, followed by a 20% tariff on additional products in April. These were later reduced temporarily to allow space for further negotiations. In response, the EU suspended planned retaliatory tariffs and proposed eliminating duties on all industrial goods traded between the two sides.
Trump also announced that iPhones sold in the U.S. would need to be manufactured domestically or face a 25% import tariff. This marked the first time in 2025 that a specific company has been singled out in U.S. trade policy. Apple shares fell more than 3% in premarket trading, contributing to a broader decline in technology stocks.
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