Nifty trades below 24,850; European mrkt opens higher
At 13:30 IST, the barometer index, the S&P BSE Sensex, slipped 668.48 points or 0.81% to 81,507.97. The Nifty 50 index fell 177.30 points or 0.71% to 24,824.60.
The broader market outperformed frontline indices. The S&P BSE Mid-Cap index rose 0.06% and the S&P BSE Small-Cap index added 0.15%.
The market breadth was negative. On the BSE, 1,807 shares rose and 2,019 shares fell. A total of 166 shares were unchanged.
Gainers & Losers:
IndusInd Bank (up 2.89%), Jio Financial Services (up 1.30%), Trent (up 1.18%), Asian Paints (up 0.46%) and Bharat Electronics (up 0.38%) were the major Nifty50 gainers.
UltraTech Cement (down 2.34%), ITC (down 1.82%), NTPC (down 1.59%), Grasim Industries (down 1.46%) and Mahindra & Mahindra (down 1.44%) were the major Nifty50 Losers.
Stocks in Spotlight:
Blue Dart Express slipped 4.61% after the company reported 29.09% decline in consolidated net profit to Rs 55.15 crore in Q4 FY25 as against Rs 77.78 crore posted in Q4 FY24. However, revenue from operations rose 7.13% YoY to Rs 1,417.32 crore in the quarter ended 31 March 2025.
Snowman Logistics fell 2.17% to Rs 58.56. The company reported 81.4% surge in consolidated net profit to Rs 3.90 crore on an 8.27% rise in revenue from operations to Rs 137.01 crore in Q4 March 2025 over Q4 March 2024.
Brainbees Solutions (Firstcry) fell 6.18% after the company?s consolidated net loss widened to Rs 76.74 crore in Q4 FY25, compared with a net loss of Rs 51.74 crore in Q4 FY24. Revenue from operations jumped 15.8% YoY to Rs 1,930.32 crore in Q4 FY25.
Olectra Greentech declined 5.85% after the company?s consolidated net profit slipped 55.2% to Rs 20.69 crore in Q4 FY25, compared with Rs 46.62 crore in Q3 FY25. Revenue from operations declined 12.89% QoQ to Rs 448.92 crore during the quarter.
Venus Remedies soared 9.16% after the company reported a 99.80% surge in consolidated net profit to Rs 21 crore in Q4 FY25 as against Rs 10.51 crore recorded in Q4 FY24. However, revenue from operations decreased marginally to Rs 194.97 crore in Q4 FY25, as against Rs 195.16 crore posted in the corresponding quarter of the previous year.
Global Markets:
US Dow Jones futures soared 559 points early Tuesday, hinting at a strong start for Wall Street after a long weekend break. The US stock market was shut on Monday for Memorial Day.
European markets opened higher on Tuesday as French inflation cooled to 0.6% in May. Provisional data from Insee, France?s statistics office, pointed to annual harmonized inflation increasing by 0.6% in May It marked a slowdown from April, when French inflation rose by 0.9% on an annual basis.
German consumer sentiment improved in May. According to the GfK Consumer Climate report, sentiment rose for the third consecutive month in May, driven by easing inflation and favorable wage settlements. However, despite the improvement, overall sentiment remained low as U.S. tariff policies continued to dampen consumer willingness to spend, with many hesitant to make discretionary purchases.
In the U.K., food inflation rose by 2.8% year-on-year in May, according to the British Retail Consortium. This marks the fourth consecutive month of rising prices, up from 2.6% in April and above the three-month average of 2.6%.
Asian shares traded mixed as investors continued to assess the global trade climate after U.S. President Donald Trump deferred 50% tariffs on European Union imports.
Japan?s Nikkei slipped after Bank of Japan Governor Kazuo Ueda highlighted risks from sticky inflation. He hinted that more rate hikes could be on the table if the economy picks up steam.
China, meanwhile, offered a glimmer of optimism. Industrial profits rose 3% year-on-year in April, beating March?s 2.6% growth. For the first four months of the year, profits are up 1.4%, according to the National Bureau of Statistics.
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