Nifty trades below 24,800 level; European mrkt opens higher
Barring the Nifty PSU Bank index, all other sectoral indices were traded in the red.
At 13:30 IST, the barometer index, the S&P BSE Sensex, slipped 171.09 points or 0.21% to 81,461.93. The Nifty 50 index fell 58.75 points or 0.24% to 24,772.90.
In the broader market, the S&P BSE Mid-Cap index shed 0.30% and the S&P BSE Small-Cap index rose 0.28%.
The market breadth was negative. On the BSE, 1,741 shares rose and 2,128 shares fell. A total of 162 shares were unchanged.
Gainers & Losers:
Eternal (up 3.67%), Cipla (up 0.53%), Larsen & Toubro (up 0.41%), HDFC Bank (up 0.35%) and Infosys (up 0.31%) were the major Nifty50 gainers.
Bajaj Auto (down 2.51%), Hindalco Industries (down 2.22%), Shriram Finance (down 1.36%), IndusInd Bank (down 1.20%) and Tech Mahindra (down 1.26%) were the major Nifty50 losers.
Stocks in Spotlight:
Ola Electric Mobility declined 5.11% after the company?s consolidated net loss widened to Rs 870 crore in Q4 FY25, compared with a net loss of Rs 416 crore in Q4 FY24. Revenue from operations tumbled 61.8% YoY to Rs 611 crore in Q4 FY25.
Gujarat Pipavav Port surged 10.16% after the company?s consolidated net profit jumped 70.68% to Rs 112.36 crore on 0.19% marginally rise in revenue from operations to Rs 251.77 crore in Q4 FY25 over Q4 FY24.
Welspun Living dropped 5.96% after the company reported a 9.71% decrease in consolidated net profit of Rs 131.82 crore in Q4 FY25 as against Rs 146 crore in Q4 FY24. Revenue rose by 2.74% year-over-year to Rs 2,645.90 crore during the period under review.
NBCC (India) rose 5.08% after the company reported a 29.27% increase in consolidated net profit of Rs 175.92 crore in Q4 FY25 as against Rs 136.08 crore in Q4 FY24. Revenue from operations rose 16.17% year on year (YoY) to Rs 4,642.55 crore in the quarter ended 31 March 2025.
Global Markets:
European shares opened higher on Friday, shrugging off concerns over the re-imposition of U.S. tariffs by U.S. courts.
Asian shares traded lower 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 Trump?s 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 court?s decision.
Australia's retail sales unexpectedly declined by 0.1% in April, snapping a three-month growth streak, driven by a drop in clothing purchases, as per data released by the Australian Bureau of Statistics. The decline follows a 0.3% growth in March, adding to expectations of potential rate cuts by the Reserve Bank of Australia.
On a year-over-year basis, retail sales rose 3.8% in April, amounting to A$37.2 billion ($23.9 billion), slower than the 4.3% increase recorded in March.
In regional economic data, Japan?s core consumer price index, excluding fresh food, rose 3.6% year-on-year in May, slightly higher than April?s 3.4%, according to the Statistics Bureau. The country?s 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.
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