The key equity indices traded with minor gains in early trade. The Nifty traded above the 24,700 level. Investors are keeping a close eye on global trends and Q4 earnings announcement. Pharma, realty and FMCG shares advanced while consumer durables, metal and IT stocks declined.
At 09:25 IST, the barometer index, the S&P BSE Sensex, added 101.76 points or 0.13% to 82,257.76. The Nifty 50 index advanced 17.90 points or 0.07% to 24,703.85.
In the broader market, the S&P BSE Mid-Cap index added 0.06% and the S&P BSE Small-Cap index shed 0.19%.
The market breadth was positive. On the BSE, 1,381 shares rose and 1,374 shares fell. A total of 146 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth 10,016.10 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,738.39 crore in the Indian equity market on 20 May 2025, provisional data showed.
Economy:
India's infrastructure output, which tracks activity across eight sectors and makes up 40% of the country's industrial production, grew at 0.5% annually in April as against 4.6% in March, data from Ministry of Commerce & Industry showed on Tuesday. The Index of eight Core Industries is the measure of combined and individual performance of production of eight core industries: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.
India's retail inflation for farm as well as rural workers eased marginally to 3.48% and 3.53%, respectively, in April this year compared to the pace of price hikes for the two categories at 3.73% and 3.86% recorded in March. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) increased by 1 point each in April 2025 to stand at 1307 and 1320 points, respectively. The CPI-AL and CPI-RL were 1306 points and 1319 points, respectively, in March.
Stocks in Spotlight:
Dixon Technologies (India) declined 5%. The company's consolidated net profit surged 321.2% to Rs 400.82 crore on 121% jump in revenue from operations to Rs 10,292.54 crore in Q4 FY25 over Q4 FY24.
Torrent Pharmaceuticals added 2.72% after the company reported 10.9% jump in consolidated net profit to Rs 498 crore on 7.9% increase in revenue from operations to Rs 2,909 crore in Q4 FY25 over Q4 FY24.
United Spirits declined 2.18%. The company's consolidated net profit jumped 74.7% to Rs 421 crore on 8.9% increase in net sales (excluding excise duty) to Rs 3,031 crore in Q4 March 2025 over Q4 March 2024.
Numbers to Track:
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.6500, compared with its close of 85.5800 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement added 0.66% to Rs 95,398.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.40% to 99.63.
The United States 10-year bond yield advanced 0.62% to 4.509.
In the commodities market, Brent crude for July 2025 settlement added 99 cents or 1.51% to $65.37 a barrel.
Global Markets:
The US Dow Jones index futures were currently down by 123 points, signaling a weak opening for US stocks today.
Asian shares traded mixed on Wednesday. The Bank of Indonesia's policy decision is expected later in the day. The central bank had cut interest rates in September 2024 and again in January 2025 but has maintained rates at 5.75% since then.
In Japan, trade data for April showed a surprise deficit, as exports were impacted by stronger yen levels and increased U.S. trade tariffs. The country posted a trade deficit of 115.8 billion yen ($800 million), compared to a 559.4 billion yen surplus in March. Exports rose 2% year-on-year, a slowdown from 4% in the previous month. Imports declined 2.2% year-on-year, compared to expectations for a 4.5% drop, and contrasted with a 1.8% increase in the prior month.
In the United States, the three major indices closed lower on Tuesday. The S&P 500 declined 0.39%, the Nasdaq Composite fell 0.38%, and the Dow Jones Industrial Average lost 0.27%, as investor sentiment weakened. The technology sector fell 0.5%, with declines in major companies including Nvidia (-0.9%), AMD, Meta Platforms, Apple, and Microsoft.
Geopolitical tensions weighed on markets following reports that Israel may be planning an attack on Iran's nuclear facilities. Oil prices rose on concerns over potential conflict in the Middle East.
Additionally, comments from several Federal Reserve officials signaled continued caution regarding economic and trade-related uncertainties. Policymakers indicated that elevated tariffs could contribute to inflation and reiterated a limited scope for near-term interest rate cuts.
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