The key equity indices traded with moderate losses in mid-afternoon trade, investors remained cautious amid global headwinds. The Nifty hovered below the 25,000 level after hitting day’s high of 25,062.95 in morning trade.
PSU Bank surged for the seventh consecutive trading session.
At 14:25 IST, the barometer index, the S&P BSE Sensex, declined 279.48 points or 0.34% to 82,051.11. The Nifty 50 index fell 70.55 points or 0.27% to 24,950.35.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.39% and the S&P BSE Small-Cap index jumped 0.73%.
The market breadth was strong. On the BSE, 2,456 shares rose and 1,585 shares fell. A total of 189 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 4.87% to 17.36
Buzzing Index:
The Nifty PSU Bank index advanced 1.51% to 6,728. The index rallied 9.07% in seven consecutive trading sessions.
Central Bank of India (up 4.49%), Punjab & Sind Bank (up 4.07%), Indian Overseas Bank (up 3.99%), Bank of Maharashtra (up 3.86%), UCO Bank (up 3.32%), Bank of India (up 2.97%), Union Bank of India (up 2.66%), Punjab National Bank (up 2.47%), Indian Bank (up 2.35%) and Bank of Baroda (up 1.25%) surged.
Numbers to Track:
The yield on India's 10-year benchmark federal paper fell 0.14% to 6.222 compared with the previous close of 6.231.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.4250, compared with its close of 85.5700 during the previous trading session.
MCX Gold futures for 5 June 2025 settlement rose 1.36% to Rs 93,698.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.74% to 100.34.
The United States 10-year bond yield advanced 2.37% to 4.544.
In the commodities market, Brent crude for July 2025 settlement fell 48 cents or 0.73% to $64.93 a barrel.
Stocks in Spotlight:
Kalpataru Projects International added 2.03% after the company’s consolidated net profit jumped 37.2% to Rs 225.41 crore on 18.3% increase in revenue from operations to Rs 7066.77 crore in Q4 FY25 over Q4 FY24.
Uflex declined 1.90%. The company reported a consolidated net profit of Rs 168.56 crore in Q4 FY25, compared with net loss of Rs 270.95 crore in Q4 FY24. Revenue from operations added 11.31% YoY to Rs 3,814.28 crore in the quarter ended 31 March 2025.
Banco Products (India) hit an upper circuit of 20% after the company's consolidated net profit soared 125.20% to Rs 153.50 crore in Q4 FY25 as against Rs 68.16 crore posted in Q4 FY24. The company’s revenue from operations jumped 21.04% YoY to Rs 868.40 crore in the quarter ended 31 March 2025.