The key equity indices erased all losses and traded with minor gains in mid-morning trade as investors reacted to news of Operation Sindoor, a targeted strike by Indian forces on terror sites in response to the recent Pahalgam attack. The operation was described as focused and restrained, avoiding Pakistani military targets. The Nifty traded above the 24,400 level after hitting the day's low of 24,220 in early trade. Market sentiment remains volatile due to rising Indo-Pak tensions.
FMCG shares extended losses for the second consecutive trading session.
At 11:30 IST, the barometer index, the S&P BSE Sensex, rose 73.51 points or 0.09% to 80,714.58. The Nifty 50 index added 25.75 points or 0.11% to 24,405.35.
The broader market outperformed the frontline indices. the S&P BSE Mid-Cap index jumped 1% and the S&P BSE Small-Cap index rallied 0.70%.
The market breadth was negative. On the BSE, 1,741 shares rose and 1,847 shares fell. A total of 175 shares were unchanged.
Buzzing Index:
The Nifty FMCG index declined 0.43% to 56,641.05. The index shed 0.51% in two consecutive trading sessions.
Radico Khaitan (down 3.38%), Patanjali Foods (down 2.24%), Godrej Consumer Products (down 1.30%), Varun Beverages (down 1.07%), Nestle India (down 0.98%), Colgate-Palmolive (India) (down 0.74%), ITC (down 0.63%), Hindustan Unilever (down 0.28%), Britannia Industries (down 0.17%) and Tata Consumer Products (down 0.10%) declined.
Radico Khaitan slipped 3.38%. The company reported a 59.76% jump in standalone net profit to Rs 90.71 crore in Q4 FY25 as compared with Rs 56.78 crore in Q4 FY24. Revenue from operations (excluding excise duty) jumped 20.9% YoY to Rs 1,304.08 crore during the quarter ended 31st March 2025.
Stocks in Spotlight:
Angel One advanced 2.23% after the company announced that its client base surged 37% to 31.48 million in April 2025, compared with 22.99 million in April 2024.
Aster DM Healthcare added 1.08% after the company said that it has entered into a lease agreement for a composite property located at Sarjapur Road, Bengaluru, Karnataka, for setting up a new multi-specialty hospital.
Global Markets:
The US Dow Jones index futures were currently up by 191 points, signaling a positive opening for US stocks today.
Most Asian indices rose on Wednesday following a series of stimulus announcements from China’s central bank and financial regulators. In an effort to support economic growth amid ongoing trade concerns, China will reduced key interest rates and adjusted banking reserve requirements.
The People’s Bank of China will cut the seven-day reverse repurchase rate by 10 basis points to 1.4%, a move expected to lower the loan prime rate by a similar margin. Additionally, the central bank will reduce the reserve requirement ratio by 50 basis points, a step projected to inject approximately $138.6 billion into the financial system.
Global investors are also awaiting a key policy announcement from the U.S. Federal Reserve. The Fed is widely expected to maintain interest rates at current levels when its two-day meeting concludes later today. While no major policy shifts are anticipated, markets are closely monitoring for signals regarding the Fed’s outlook amid persistent economic uncertainty and the impact of U.S. trade policy.
On Wall Street, major indices closed lower on Tuesday. The Dow Jones Industrial Average declined by 0.95%, the S&P 500 dropped 0.77%, and the NASDAQ Composite fell by 0.87%.
Among individual stocks, Ford Motor Company gained over 2% despite lowering its full-year guidance. The company cited uncertainty related to U.S. trade policy as a significant factor affecting its outlook.
Palantir Technologies shares declined approximately 12% after the company reported quarterly earnings that fell short of elevated market expectations, although it raised its annual revenue guidance.
Tesla shares also dropped more than 1% following a sharp decline in sales volume in Germany for April. Meanwhile, new car registrations in the United Kingdom fell by 62% year-on-year, marking the lowest level in more than two years.